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Estimation of the Extreme Distribution Model of Economic Losses Due to Outbreaks Using the POT Method with Newton Raphson Iteration Riza Adrian Ibrahim; Sukono Sukono; Riaman Riaman
International Journal of Quantitative Research and Modeling Vol 2, No 1 (2021)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (336.324 KB) | DOI: 10.46336/ijqrm.v2i1.118

Abstract

Extreme distribution is the distribution of a random variable that focuses on determining the probability of small values in the tail areaof the distribution. This distribution is widely used in various fields, one of which is reinsurance. An outbreak catastrophe is non-natural disaster that can pose an extreme risk of economic loss to a country that is exposed to it. To anticipate this risk, the government of a country can insure it to a reinsurance company which is then linkedto bonds in the capital market so that new securities are issued, namely outbreakcatastrophe bonds. In pricing, knowledge of the extreme distribution of economic losses due to outbreak catastrophe is indispensable. Therefore, this study aims to determine the extreme distribution model of economic losses due to outbreak catastrophe whose models will be determined by the approaches and methods of Extreme Value Theory and Peaks Over Threshold, respectively. The threshold value parameter of the model will be estimated by Kurtosis Method, while the other parameters will be estimated with Maximum Likelihood Estimation Method based on Newton-Raphson Iteration. The result of the research obtained is the resulting model of extreme value distribution of economic losses due to outbreak catastrophe that can be used by reinsurance companies as a tool in determining the value of risk in the outbreak catastrophe bonds.
Application of Exogenous Liquidity Risk Models to Analyze Single Assets Yasir Salih; Riaman Riaman; Komar Komar; Alit Kartiwa
International Journal of Business, Economics, and Social Development Vol 1, No 1 (2020)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v1i1.15

Abstract

Exogenous liquidity risk measurement is a measurement of liquidity risk that affects all market participants and is not affected by the actions of any other actors. Exogenous liquidity risk measurement is usually called the Cost of Liquidity (COL). The main problem is how the level of liquidity of one currency against other currencies and the effect of liquidity risk on VaR (Value at Risk) on a single asset. This thesis examines the importance of liquidity risk on a single asset. Combining basic VaR and liquidity risk will result in more effective calculations. The model used is to add the basic VaR value with the Cost of Liquidity (COL) or also called Liquidity VaR (L-VaR). The calculation results show the different effects of liquidity for each country's currency. Indonesian Rupiah (IDR) is the currency that has the highest liquidity component compared to the Japanese Yen (JPY) and the Thai Baht (THB). The lower the liquidity component of a currency, the currency is very liquid, and the Japanese Yen (JPY) is the most liquid currency compared to the Indonesian Rupiah (IDR) and the Thai Baht (THB).
Estimation of Reinsurance Risk Value Using the Excess of Loss Method Jumadil Saputra; Tika Fauzia; Sukono Sukono; Riaman Riaman
International Journal of Business, Economics, and Social Development Vol 1, No 1 (2020)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v1i1.16

Abstract

As with any other business that has a risk of any incident in the future, the insurance business also needs protection against the risks that may arise in the company so that the company does not lose. Therefore, the need for anticipation in organizing any claims submitted by the insurance company to Reinsurance Company so that insurance company may assign any or all of the risks to reinsurance companies. In the method of reinsurance excess-of-loss there is a certain retention limits that allow reinsurance companies bear no claims incurred on insurance companies. The results of this study showed the average occurrence of claims and the risks that may be encountered by Reinsurance Company during the period of insurance. The magnitude of the risk assumed by the reinsurer relies on the model claims aggregation formed from individual claim size distribution models and distribution models the number of claims incurred in the period of insurance. Besides the magnitude of risk was also determined from the retention limit of insurance and reinsurance method used.
ANALISIS PENERAPAN METODE POHON BINOMIAL DAN METODE BLACK-SCHOLES DALAM PENENTUAN HARGA OPSI BELI Betty Subartini; Riaman Riaman; Nahda Nabiilah; Sukono Sukono
Teorema: Teori dan Riset Matematika Vol 6, No 2 (2021): September
Publisher : Universitas Galuh

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25157/teorema.v6i2.5781

Abstract

Opsi adalah salah satu surat perjanjian jual beli saham antara pihak penjual dan pembeli untuk melakukan suatu kesepakatan dengan harga dan periode yang ditentukan. Seseorang yang membeli opsi bisa memilih untuk melaksanakan haknya ataupun tidak. Penelitian ini bertujuan mengetahui hasil perbandingan harga Opsi Beli Apple Inc., dengan penggunaan dua metode yaitu metode Pohon Binomial dan metode Black-Scholes. Hasil dari penelitian ini menunjukkan bahwa dengan asumsi suku bunga bebas risiko dan strike price yang ditentukan sama, maka hasil perhitungan harga Opsi Beli dengan kedua metode tersebut hampir sama. Dapat disimpulkan bahwa harga Opsi Beli yang didapat dengan metode Pohon Binomial mendekati harga Opsi Beli dengan metode Black-Scholes. Sehingga kedua metode tersebut layak digunakan untuk perhitungan awal harga Opsi Beli.Kata kunci:  Metode black-scholes, metode pohon binomial, opsi tipe eropa
Penguatan Konsep Matematika Dalam Pembelajaran Latex untuk Siswa SMP dan SMA Edi Kurniadi; Herlina Napitupulu; Alit Kartiwa; Riaman Riaman
Jurnal Cendekia : Jurnal Pendidikan Matematika Vol 5 No 1 (2021): Jurnal Cendekia: Jurnal Pendidikan Matematika Volume 5 Nomor 1 Tahun 2021
Publisher : Mathematics Education Study Program

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/cendekia.v5i1.396

Abstract

Dalam artikel ini, kita belajar konsep coding dengan Latex melalui penguatan konsep matematika untuk siswa SMP dan SMA. Tujuan penelitian ini adalah untuk menarik minat para siswa dalam mempelajari coding melalui penguatan konsep matematika yang baik dan benar dengan memperkenalkan apa yang disebut Program Latex. Program Latex ini merupakan perangkat lunak alternatif selain Microsoft Word untuk pengetikan rumus-rumus matematika. Selanjutnya, metode yang digunakan dalam penelitian ini adalah deskriptif kualitatif untuk menggambarkan kemampuan siswa dalam memahami konsep dasar matematika dan implementasinya melalui pengetikan rumus-rumus matematika dengan Latex. Siswa dilatih agar supaya mempunyai pengetahuan yang baik dan benar tentang konsep dasar matematika, khususnya bagaimana cara membaca dan menulis rumus matematika secara sistematis. Hasil dari penelitian ini, para siswa dapat menulis rumus-rumus matematika dalam Program Latex dan mempunyai pemahaman konsep matematika yang baik dan benar yang tentunya akan menjadi modal dasar untuk memahami konsep coding untuk tingkatan yang lebih tinggi. Untuk penelitian selanjutnya, konsep matematika dapat direalisasikan melalui Pemograman Python. Melalui pendekatan Program Python ini, diharapkan para siswa akan menyukai penerapan-penerapan matematika dalam berbagai hal.
ECONOMIC EMPOWERMENT OF COASTAL COMMUNITIES THROUGH FISHERMAN INSURANCE Riaman Riaman; Sukono Sukono; Kalfin Kalfin
International Journal of Research in Community Services Vol 1, No 4 (2020)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijrcs.v1i4.302

Abstract

The current condition of fishermen in Indonesia is still far from prosperous, especially small fishermen who generally have an income of less than one million/month. Fishermen are faced with constraints on the characteristics of their fishing business which depend on climate change, weather uncertainty, and sea waves, so they pose a high risk. This affects the low income of these fishermen because fishermen working hours are very dependent on the weather so if the sea waves are high or other bad weather, fishermen are forced not to go to sea. Therefore, it is necessary to protect fishermen through fisherman insurance. Currently, the government has been trying to increase the target of fish production and consumption through protection and welfare for fishermen. One of the efforts to improve fishermen's welfare is a work program that guarantees protection against risks to fishermen, fish cultivators, and salt farmers. This program targets 1 million insurance for fishermen spread across the territory of the Republic of Indonesia. One of the government's efforts to protect fishermen and their families is through the provision of Insurance Premium Assistance for Fishermen. This effort is intended to provide guaranteed protection against risks experienced by fishermen, such as death, permanent disability, and medical costs; as well as provide awareness of insurance for fishermen. However, currently, fishermen's income is not included in the risk guarantee from the fishermen’s insurance program. Even though the income of fishermen is one of the criteria for measuring the economy of coastal communities who work as fishermen and indirectly can determine the maritime economy. Therefore, we as academics intend to conduct training and socialization of economic empowerment of fishing communities based on knowledge, skills, and potential in Cirebon Fishermen Village through Community Service programs. The material that will be provided in this Community Service activity is related to the economic empowerment of fishermen communities and community-based fisherman insurance. This material will be given to the workshop session both to the local community.
STUDI SIMULASI : PERBANDINGAN UJI WELCH DAN UJI COHRAN COX PADA MASALAH BEHRENS-FISHER Sudartianto Sudartianto; Yudhi Andriyana; Riaman Riaman
Jurnal Ilmiah Matematika dan Pendidikan Matematika Vol 9 No 1 (2017): Jurnal Ilmiah Matematika dan Pendidikan Matematika
Publisher : Jurusan Matematika FMIPA Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20884/1.jmp.2017.9.1.2856

Abstract

Behrens-Fisher problem has a lot of test, two of them are Cohran-Cox test and Welch test. This study will examine the stability of both tests by comparing thesignificance levels of both tests to a specific (given) significance level. The result shows that the Welch test is more stable than the Cochran-Cox test which means that theoretically Welch test is better than Cochran-Cox test.
Training on Economic Empowerment for Fishermen Community in Ambulu Village, Losari Sub-District, Cirebon Regency, West Java, Indonesia Sukono Sukono; Riaman Riaman; Soeryana Hasbullah
International Journal of Ethno-Sciences and Education Research Vol 1, No 2 (2021)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (248.185 KB) | DOI: 10.46336/ijeer.v1i2.122

Abstract

The welfare of fishermen in Indonesia is still very low and many of them have not been able to meet their family's daily needs. This is caused by various factors that affect their economic condition. This paper aims to conduct economic empowerment training for fisheries communities in Ambulu Village, Losari District, Cirebon Regency, West Java, Indonesia. In this study, 115 respondents Ambulu village fishermen are included in the study. The reviewed factors include social factors, work system factors, and economic factors themselves in meet the needs of fishermen's family. As much as 79.13% of respondents were able to meet their daily needs, while 20.87% were unable to meet their daily needs. This shows that other efforts are needed from fishermen to fulfil their daily needs in order to improve their welfare.
Determining the Price of Fisherman Micro Insurance Premiums Using the Aggregate Risk Model Approach in Cirebon Regency Ratih Kusumadewi; Riaman Riaman; Sukono Sukono
International Journal of Quantitative Research and Modeling Vol 3, No 3 (2022)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijqrm.v3i3.346

Abstract

Catastrophe such as hurricanes, heavy rains, and similar occurrence pose serious threats and risks to fishermen's livelihoods as well as losses from damage to their assets. Therefore, it is necessary to have special insurance to protect the fishermen's assets from financial losses due to the risks that can occur, namely Fisherman Micro Insurance. Micro-insurance is an insurance product that is intended for low-income people with features and administration that are simple, easy to obtain, economical prices and immediately in the completion of the provision of compensation. Fisherman's micro insurance guarantees assets in the form of fishing equipment in the occurrence of a risk of an accident causing damage, this insurance product protects against worries without a large premium burden. This study aims to calculate the premium price with an aggregate risk model approach. The data used is data on fisherman’s losses if they did not go to sea which obtained by surveys. The occurrence data follows the Poisson distribution, and the loss data follows the Exponential distribution. Parameter Estimation was carried out using the Maximum Likelihood Estimation. The estimation results from numbers of occurrence and the amount of losses are used to estimate the collective risk model. Estimators of the average and variance of the aggregate risk are used to determine the premium. The results of the premium selection in this study amounted to IDR 153.861.958.00. The premium amount is a collective premium which is the result of a calculation based on the standard deviation principle.
Characteristic Factors of Health Micro Insurance Against Considerations in Selection of Health Service Facilities Radya Pratiwi Serila; Dwi Susanti; Riaman Riaman
International Journal of Research in Community Services Vol 4, No 1 (2023)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijrcs.v4i1.389

Abstract

Indonesia is still faced with a series of health problems. One of the causes of health problems is the expensive cost of treatment.  An alternative that people can choose for health financing is to have health micro-insurance aimed at lower-middle-class households. The purpose of this study was to identify factors characteristic of micro-insurance, against the consideration of choosing health service facilities. The data used were primary data obtained through a questionnaire of 220 health micro-insurance participants. This research was analyzed with a quantitative descriptive approach. The results of the analysis show that the characteristics of hospitals that are registered as good quality micro-insurance services and responsive to providing referrals to hospitals, when there are patient complaints are the main factors in considering the choice of health service facilities.
Co-Authors AGUS SUPRIATNA Aldino Reisnanda Alit Kartiwa Anang Muhajirin Andhita Zahira Adib Annisa Aprillia Ariyanti, Devi Arla Aglia Yasmin Ary Robayani Asthie Zaskia Maharani Atha Hukama Aulianda Anisa Putri S. R. Aulya Putri Ayyinah Nur Bayyinah Azizah Rini Widyani Bayyinah, Ayyinah Nur Betty Subartini Betty Subartini Betty Subartini Betty Subartini Dewi Ratnasari Dwi Susanti Dwi Susanti Dwi Susanti Dwi Susanti Dwi Susanti Dwi Susanti Edi Kurniadi Emmanuel Parulian Sirait Estu Putri Dianti Ghazali, Puspa Liza Hasbullah, Soeryana Herlina Napitupulu Hidayana, Rizki Apriva Hukama, Atha Iin Irianingsih Jumadil Saputra Kahar, Ramadhina Hardiva kalfin Kalfin Kankan Parmikanti Khalilah Razanah Zakirah Komar Komar Laksito, Grida Saktian Linda Damayanti Putri Luki Setiawan Luki Setiawan Lutfi Praditia Ma’mur Maharani, Asthie Zaskia Ma’mur, Lutfi Praditia MIFTAAHUL JANNAH Moisino, Misel Lindi Nahda Nabiilah Noriszura Ismail Novianti, Saqila Pramudhita, Annisa Pryimak, Evgen Putri Adhira Novalia Putri Chaerunnisa Febryanti Putri, Aulya Putri, Linda Damayanti Qurrotu Aini Radya Pratiwi Serila Raharjanti, Amalia RAHMAWATI, SEPTI Ramdhania, Tya Shafa Ratih Kusumadewi Riadi, Nadia Putri Riza Adrian Ibrahim Saefullah, Rifki Silvia Wijaya Soeryana Hasbullah Subartiny, Betty Sudartianto Sudartianto Sukono Sukono Supian, Sudradjat Susanto, Sunarta Sya’imaa.HS, Audrey Ariij Tika Fauzia Tyrenia Rahmawati Ulfatmi, Ristifani Vimelia, Willen Wahid, Alim Jaizul Waway Tiswaya Widyani, Azizah Rini Willen Vimelia Yasir Salih Yasmin, Arla Aglia Yeremia Herry Parulian Yeremia Herry Parulian, Yeremia Herry Yudhi Andriyana Yulianus Brahmantyo Zahra, Ami Emelia Putri