03 July 2019
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This was conveyed by the Head of BPPDAN Arie Surya Nugraha at the 2019 BPPDAN Gathering which carries the theme 'BPPDAN Transformation for Quality Insurance Data Management' in Jakarta, Thursday.
"The goal is that when it is needed by the Indonesian General Insurance Association (AAUI) to review rates, BPPDAN is ready with a better calculation model," he said.
BPPDAN collaborates with the Scientific Group (KK) of Statistics, Faculty of Mathematics and Natural Sciences (FMIPA) Bandung Institute of Technology (ITB) as academic partners to develop and apply stochastic in data processing and calculation of premium rates.
Ari continued, stochastic is considered capable of reducing the possibility of errors in the process of verifying insurance policy data, which is so large. This methodology requires the collection of comprehensive and accurate data to optimize tariff determination based on the risk of the policy.
"Due to this high level of accuracy, we have also developed a B2B data validation system that prevents imperfections from being processed, which in turn improves efficiency and workflow," he added.
Furthermore, for the application of this methodology, his party has improved the data processing infrastructure by developing a B2B system.
"This system has been successfully tested in five insurance companies," he said.
On the same occasion, the Head of the Department of Mathematics and Natural Sciences' Master of Mathematics Teaching and Actuarial Master of Statistics ITB revealed that the stochastic methodology allows prospective, not retrospective, data analysis.
"So, with stochastic we can process data for the past 10 years to predict trends that will occur in the next one year. This cannot be done by determinists," he explained.
The application of stochastic to modern insurance practice is considered appropriate given the rapid development of technology that makes data collection easier and more accurate.
Executive Director of the Indonesian General Insurance Association (AAUI) Dody A. S. Dalimunthe, as a representative of the national insurance industry, expressed his support for implementing this method to bring better value to both insurance companies and the insured.
"So the output will not be "one size fits all', but it will be much more variable and adjust to the risk of each policy," he concluded.
Intending to increase obligatory statistic session, BPPDAN is testing new data processing methodologies
Jakarta (ANTARA) - To encourage an increase in the obligatory statistic session of the national insurance industry, which is currently at 2.5 percent or a maximum value of IDR 500 million per policy, the National Insurance Data Center Management Agency (BPPDAN) conducted a trial of the application of stochastic methodology data management process.
This was conveyed by the Head of BPPDAN Arie Surya Nugraha at the 2019 BPPDAN Gathering which carries the theme 'BPPDAN Transformation for Quality Insurance Data Management' in Jakarta, Thursday.
"The goal is that when it is needed by the Indonesian General Insurance Association (AAUI) to review rates, BPPDAN is ready with a better calculation model," he said.
BPPDAN collaborates with the Scientific Group (KK) of Statistics, Faculty of Mathematics and Natural Sciences (FMIPA) Bandung Institute of Technology (ITB) as academic partners to develop and apply stochastic in data processing and calculation of premium rates.
Ari continued, stochastic is considered capable of reducing the possibility of errors in the process of verifying insurance policy data, which is so large. This methodology requires the collection of comprehensive and accurate data to optimize tariff determination based on the risk of the policy.
"Due to this high level of accuracy, we have also developed a B2B data validation system that prevents imperfections from being processed, which in turn improves efficiency and workflow," he added.
Furthermore, for the application of this methodology, his party has improved the data processing infrastructure by developing a B2B system.
"This system has been successfully tested in five insurance companies," he said.
On the same occasion, the Head of the Department of Mathematics and Natural Sciences' Master of Mathematics Teaching and Actuarial Master of Statistics ITB revealed that the stochastic methodology allows prospective, not retrospective, data analysis.
"So, with stochastic we can process data for the past 10 years to predict trends that will occur in the next one year. This cannot be done by determinists," he explained.
The application of stochastic to modern insurance practice is considered appropriate given the rapid development of technology that makes data collection easier and more accurate.
Executive Director of the Indonesian General Insurance Association (AAUI) Dody A. S. Dalimunthe, as a representative of the national insurance industry, expressed his support for implementing this method to bring better value to both insurance companies and the insured.
"So the output will not be "one size fits all', but it will be much more variable and adjust to the risk of each policy," he concluded.
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