Yogyakarta, July 16, 2025 — The three-day Workshop on Time Series Models in Risk Management and Insurance, organized by the Statistics Laboratory of the Department of Mathematics, FMIPA UGM, officially concluded on Wednesday, July 16, 2025. The event was held in a hybrid format-on-site at Meeting Room 1, 3rd Floor of the Department of Mathematics, and online via the Zoom platform.
On the third day, the workshop featured two speakers from both academia and industry. The first session was delivered by Dr. Mohd Mahayudin Mansor from the School of Mathematical Science, Universiti Teknologi MARA (UiTM), Malaysia. In his talk titled Introductory Applications of Threshold Autoregressive (TAR) Models in Actuarial and Risk Modelling, Dr. Mansor explained the fundamental applications of TAR models in actuarial science and risk modeling. As a token of appreciation, a souvenir was presented by Danang Teguh Qoyyimi, S.Si., M.Sc., Ph.D. at the end of the session.
The second session continued with Jakub Nugraha, Division Head of Microinsurance and Agriculture Insurance at PT Asuransi Central Asia. He delivered a presentation titled Parametric-Based Agricultural Insurance Scheme Integrated with Risk Management in Climate-Smart Farming Ecosystems. In his talk, Jakub highlighted the importance of agricultural insurance in mitigating climate change risks and the role of parametric schemes in this effort. He also noted that out of 71 insurance companies in Indonesia, only five currently offer agricultural insurance products. A souvenir was presented by Prof. Dr. Drs. Gunardi, M.Si., Head of the Statistics Laboratory, as a token of appreciation.
“I am so happy and grateful I could attend this workshop. The material is very relevant to my studies, especially for my Regression Modeling and Time Series courses. The third session on TAR applications opened up new insights and made me even more interested in delving deeper into time series topics,” said Sadida, a 4th-semester Actuarial Science student, who also expressed appreciation to the presenters and organizers and hoped similar workshops could be held more frequently.
The event concluded with remarks from the organizing committee, expressing gratitude for the active participation of all speakers and attendees. It is hoped that this workshop will serve as a foundation for further collaboration and research development in time series-based risk management and actuarial science.
Keywords: Time Series Modeling, Risk Management, Agricultural Insurance
Author: Shafira Fauzia Untsa
Photo: Shafira Fauzia Untsa