Article Per Year (5 Year)
p-Index From 2021 - 2026
0.817
P-Index
This Author published in this journals
All Journal BAREKENG: Jurnal Ilmu Matematika dan Terapan ACADEMICS IN ACTION Journal of Community Empowerment Journal of Actuarial, Finance, and Risk Managment
Sudding, Fauziah Nur Fahirah
Universitas Presiden
Humanities Computer Science & IT Control & Systems Engineering Economics, Econometrics & Finance Education Energy Engineering Mathematics Mechanical Engineering Physics Social Sciences Transportation

Published : 5 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 5 Documents
Search

 1 
Sosialisasi Peranan Profesi Aktuaris pada Industri Asuransi dan Asuransi untuk Kehidupan kepada Masyarakat Cikarang Maria Yus Trinity Irsan; Lina Rosmawati; Fauziah Nur Fahirah Sudding
ACADEMICS IN ACTION Journal of Community Empowerment Vol 1, No 2 (2019)
Publisher : President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/aia.v1i2.852

Abstract

Actuarial science study program is a new study program in Indonesia. Recently many universities in Indonesia have opened the study program. Currently, Indonesia needs more actuary, this is one of the reasons for the existence of the actuarial science study program in Indonesia. However, many Indonesians do not know about the actuary and actuarial science field. Besides that, most Indonesians have not realized the importance of insurance for our life. The socialization about actuary and insurance is one of the ways to introduce actuary and increase the insurance awareness to the people in Indonesia, especially in Cikarang. This event went by distributing pamphlet and giving a short explanation to the respondent about actuary, insurance, and the relationship between them.
Logistic Regression Analysis of Demographic and Vehicle Condition for Purchasing Vehicle Insurance Gabriel Azhar; Muhammad Cahirul Rahman; Rosyid Nur Salam; Fauziah Nur Fahirah Sudding
Journal of Actuarial, Finance, and Risk Management Vol 1, No 1 (2022)
Publisher : Journal of Actuarial, Finance, and Risk Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/jafrm.v1i1.3673

Abstract

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party. Building a model to predict whether a customer would be interested in Vehicle Insurance is extremely helpful for the company because it can then accordingly plan its communication strategy to reach out to those customers and optimize its business model and revenue. In this research, we use the secondary data that collected in India in 2020, which analyzes vehicle condition, demographics, and owning a driver’s license on vehicle insurance buying interest. The method used in this research is the Logistic Regression, the response variable is the Response (of buying vehicle insurance interest), and the independent variables are Gender, Driving License, Previously Insured, Vehicle Age, and Vehicle Damage. The result of this research showed that the Previously Insured, Vehicle Age, and Vehicle Damage have a correlation to the Response.
Comparison of Chain Ladder Method and Cape Cod Method in Reinsurance Incurred But Not Reported (IBNR) Reserve Estimation Pahlevi, Zievan Ananta; Sudding, Fauziah Nur Fahirah
Journal of Actuarial, Finance, and Risk Management Vol 3, No 2 (2024)
Publisher : President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/jafrm.v3i2.5551

Abstract

In the era of globalization, there are a lot of risks that surround individuals and companies, including insurance companies. The necessity of risk management becomes important, and risk transfer through reinsurance is crucial in managing the company’s risk profile. As stated in the Otoritas Jasa Keuangan (OJK) Regulations Number 71 of 2016 Article 19 Paragraph (2), reinsurance companies are obliged to establish technical reserves, in which one of the components is Incurred But Not Reported (IBNR) reserve. Considering there is inconsistency from past studies and the importance of accurately calculating IBNR reserves. Therefore, this study aims to compare the results of IBNR reserves using the Chain Ladder method and the Cape Cod method. This study utilizes the Chain Ladder and Cape Cod models that are being applied in Microsoft Excel to calculate the IBNR reserves. The secondary data used in this study is the Paid & Reported Loss Triangle 2013-2022 from Munich Reinsurance’s Financial Results. The result of this study shows that the value of IBNR claim reserves generated using the Chain Ladder gives better accuracy, with a 12.8% relative error compared to the Cape Cod method’s 26.9%. Based on the assumptions made, the Chain Ladder model is suitable for portfolios that are just starting or have sufficient amounts of data. Meanwhile, the Cape Cod model is ideal for portfolios that have been operating for a long period.
ESTIMATION OF VALUE AT RISK FOR GENERAL INSURANCE COMPANY STOCKS USING THE GARCH MODEL Nugraha, Edwin Setiawan; Olivia, Agna; Sudding, Fauziah Nur Fahirah; Lestari, Karunia Eka
BAREKENG: Jurnal Ilmu Matematika dan Terapan Vol 19 No 2 (2025): BAREKENG: Journal of Mathematics and Its Application
Publisher : PATTIMURA UNIVERSITY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30598/barekengvol19iss2pp1071-1082

Abstract

Investment plays a crucial role in supporting economic development by allocating funds to generate future profits. Among various investment options, stock investment is widely popular. However, investors face the challenge of developing strategies to maximize returns while minimizing risks. Effective investment requires understanding the potential maximum risk of loss, known as Value at Risk (VaR). This research focuses on estimating VaR for four top general insurance companies in Indonesia: PT Lippo General Insurance Tbk (LPGI), PT Asuransi Tugu Pratama Indonesia Tbk (TUGU), PT Victoria Insurance Tbk (VINS), and PT Asuransi Dayin Mitra Tbk (ASDM). These companies were selected due to their leading positions in the industry. The Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model, an extension of the ARIMA method designed to handle volatility clustering, is utilized for VaR estimation. Results at confidence levels of 90%, 95%, and 99% reveal that VINS carries the highest risk, with a maximum VaR of IDR 2,848,710 at 99% confidence, while LPGI shows the lowest risk, with a maximum VaR of IDR 22,677. For TUGU, the maximum possible loss is IDR 517,589, and for ASDM, it is IDR 1,532,267. Backtesting confirms the reliability of the models, with some accepted at specific significance levels. Based on this analysis, the results can help investors make investment decisions that minimize potential losses, specifically in the four stocks analyzed.
Premium Reserves Calculation on Whole Life Insurance Using The Fackler Method Jabbarudin, Akbar; Sudding, Fauziah Nur Fahirah
Journal of Actuarial, Finance, and Risk Management Vol 4, No 1 (2025)
Publisher : President University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/jafrm.v4i1.6247

Abstract

Everyone has a risk of death and as they get older, the risk of death will increase. Therefore, everyone suggested to have insurance. Not only for individual, the risk is also faced with insurance provider. There are several categories of life insurance. One of the category is whole life insurance. Whole life insurance has benefitfor lifetime of the insured. The insurance provider will pay beneficiaries when the policyholder dies within any years. There are two major methods of calculating premium reserve which are prospective and retrospective method. The Fackler method adapting the concept of retrospective method. The assumptions of the Fackler method that final reserve value is determined as the reserve at the end of the next year. Considering the long-term impact, this study conducted premium reserves calculation on whole life insurance using the Fackler method. This study use “Tabel Mortalitas Penduduk Indonesia 2023” from BPJS Kesehatan as Mortality Data and 5.75% as interest rate from BI-Rate. The result of this study shows that the amount of premium reserves reaches the promised benefit at the age of 67 years old for male and 70 years old for female. Life expectancy in Indonesia is 73 years old for male and 78 years old for female. Based on the result, the Fackler method success reaches the promised benefit below life expectancy Indonesia.
Co-Authors Gabriel Azhar Irsan, Maria Yus Trinity Jabbarudin, Akbar Karunia Eka Lestari Lina Rosmawati Muhammad Cahirul Rahman Nugraha, Edwin Setiawan Olivia, Agna Pahlevi, Zievan Ananta Rosyid Nur Salam