Post On : July 27, 2023
On July 23-24, 2023, MAIPARK participated in The 2023 International Actuarial Research Conference held in Yogyakarta. The event held by the Indonesian Mathematical Society and sponsored by the Indonesian Actuaries Association (PAI) and the Society of Actuaries (SOA) carried the theme "Reinforcing Research in Actuarial Science to Increase Trust and Confidence in the Financial Institutions".
On the occasion, the MAIPARK team present, Hengki Eko (Group Head Research & Development), Rico Fernando (Actuarial Specialist), and Dennish Ari (Meteorology Specialist) presented related to the Implementation of MAIPARK Catastrophe Modelling (MCM) for the formation of flood insurance rates to the actuarial community from universities, practitioners, and regulators who were also present at the event. MCM itself is a powerful quantitative tool, involving multidisciplinary science between actuarial, earth science, and data science that can be used to determine potential losses for natural disasters owned by insurance companies.
