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All Journal Akuntansi'45 STATISTIKA
Mulawarman Awaloedin
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Mathematics

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Risk Based Capital Sebagai Tolok Ukur Kinerja Keuangan Perusahaan Asuransi Jiwa Dalam Membantu Masyarakat Yang Hendak Berasuransi I Nyoman Winata; Mulawarman Awaloedin
AKUNTANSI 45 Vol. 4 No. 2 (2023): Jurnal Ilmiah Akuntansi
Publisher : Fakultas Ekonomi Program Studi Akuntansi Universitas 45 Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30640/akuntansi45.v4i2.1805

Abstract

The purpose of this study is to analyze the difference in the RBC between the national life insurance company and the joint venture life insurance company and to analyze the impact of the difference in the RBC  for people who want to be insured. The method used is a case study on national life insurance companies and joint life insurance companies, each with 5 companies with the largest assets, in 2019-2020. While the type of data is secondary data collected through the website of each company in the form of financial statements. The analysis technique was carried out by means of a different mean test (Compare Means) or a t-test (t-test) with the help of SPSS. Then analyze the impact of differences in the RBC achievement for people who want to be insured. The calculation results show that there is no difference in the RBC between the national life insurance company and the joint venture life insurance company. However, judging from the average RBC, national life insurance companies have not shown better financial performance than joint venture life insurance companies. This has an impact on the lack of public trust in national life insurance companies, which has the potential to cause the company's inability to cope with the risk of future losses.
Integration of Extreme Value Models and Vine Copula for Urban Flood Parametric Insurance Premium Mulawarman Awaloedin
Statistika Vol. 25 No. 2 (2025): Statistika
Publisher : Department of Statistics, Faculty of Mathematics and Natural Sciences, Universitas Islam Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29313/statistika.v25i2.8247

Abstract

Abstract. This study integrates Extreme Value Theory (EVT) and a C-Vine Copula model to design the trigger mechanism and premium structure of a flood parametric insurance scheme in Jakarta (DKI Jakarta). Using historical flood data from 2014–2020 (84 monthly observations) with an event-based analytical unit, the model incorporates maximum rainfall (mm), flood duration (days), and the number of affected neighborhood units (RW). The Generalized Extreme Value (GEV) distribution is employed to model rainfall extremes, while the Generalized Pareto Distribution (GPD) is applied to flood duration. A C-Vine Gumbel Copula is used to capture interdependence across variables. Estimation results show Kendall’s τ of 0.58 between rainfall and affected RWs, and 0.54 between flood duration and RWs, with goodness-of-fit validation (p > 0.05). The optimal trigger — rainfall > 175 mm, flood duration > 2.5 days, and > 120 affected RWs — yields a claim probability of 3.5% ± 1.2% and a basis risk of 18%. With an insured value of IDR 10 billion and a 20% loading factor, the annual premium is determined at IDR 428.4 million. The EVT–Copula integration enhances flood risk estimation accuracy and premium efficiency, providing a replicable probabilistic framework for the development of parametric insurance products in high-risk regions.
Co-Authors I Nyoman Winata