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All Journal Journal of Actuarial, Finance, and Risk Managment
Fauziah Nur Fahirah Sudding
Study Program of Actuarial Science, President University
Economics, Econometrics & Finance Mathematics

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Comparison of Premium Reserves with New Jersey Methods and Full Preliminary Term on Endowment Insurance Filemon Febrian Bintoro; Fauziah Nur Fahirah Sudding
Journal of Actuarial, Finance, and Risk Management Vol 1, No 2 (2022)
Publisher : Journal of Actuarial, Finance, and Risk Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/jafrm.v1i2.3969

Abstract

Life insurance companies often have difficulty getting fees at the beginning of the insurance year. It’s noted that there are several life insurers who suffer losses caused by the inability to pay compensation to the insured, because the value of the claim insured submit exceeds the cliam estimated by the insurer. Those conditions can be anticipated if the insurance company has reserve funds. This study aims to find the right reserve value for insurance companies that have been adapted to endowment life insurance using the New Jersey and Full Preliminary Term method. Based on the data analysis carried out, it was concluded that the New Jersey reserve value for male from 1st year to 49th year is greater than that for females. Meanwhile, for Full Preliminary Term reserves, the value of male’s reserves from the 1st year to the 49th year is relatively always greater than that of females. This research could be used as a reference for insurance company to consider the better method in calculating premium reserves based on its policyholder profile
Forecasting The Number of Aircraft Passengers Arriving Through Soekarno-Hatta Airport Using Arima Model Windi Marnizal Putri; Fauziah Nur Fahirah Sudding
Journal of Actuarial, Finance, and Risk Management Vol 1, No 2 (2022)
Publisher : Journal of Actuarial, Finance, and Risk Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33021/jafrm.v1i2.3970

Abstract

Soekarno-Hatta International Airport is well known as the busiest airport in Indonesia with the number of airplane passengers normally grow from year to year. In 2010, there were more than 43 million passengers, and had increased up to 62.4 million over the year 2011. Risk of overcapacity became an issue. Thus, in the following year, the airport was planned for an expansion.  Predicting the frequency of passengers can be helpful for future planning and to improve airport facilities and policy. This research used Autoregressive Integrated Moving Average (ARIMA) to forecast the number of aircraft passengers. ARIMA (0,1,1) is the most suitable model used with MAPE 110%, the results is 2,405,205 passengers. Actual data and predictive data are not much different
Co-Authors Filemon Febrian Bintoro Windi Marnizal Putri