Welcome to Risk Management, Economic Sustainability, and Actuarial Science Development in Indonesia

The Risk Management, Economic Sustainability, and Actuarial Science Development in Indonesia (READI) project (2015-2021) was undertaken with the financial support of the Government of Canada provided through the Department of Global Affairs Canada (GAC), with the University of Waterloo serving as the Canadian Executing Agency (CEA). The project is housed in the Department of Statistics and Actuarial Science at the University of Waterloo. Additional funding was provided by Manulife Indonesia  to support elements of the project to reach its goals.

The objective of the project was to establish Indonesia as a regional centre of actuarial excellence.

The project worked with a range of key stakeholders – including high schools and universities, the insurance and pensions industry, Indonesia’s professional actuarial association, and government agencies – to:

  • Increase the number and quality of Indonesian actuarial science graduates available to Indonesian businesses, uni­versities and government agencies;
  • Strengthen the linkages between industry, government and edu­cational institutions in support of actuarial science and risk management;
  • Deepen the under­standing of actuarial science and risk management as a profession.

Global Affairs Canada affaires mondiales Canada

Risk Management, Economic Sustainability and Actuarial Science Development in Indonesia (READI) Project undertaken with the financial support of the Government of Canada provided through the Department of Global Affairs Canada (GAC).


Monday, September 2, 2019

READI in WIRED Magazine

The WIRED magazine published an article, "The Sea Is Consuming Jakarta, and Its People Aren't Insured," in which it looked at Jakarta is sinking, and at the worst possible time. Journalist Matt Simon states, "As sea levels creep higher, the coastal megalopolis continues to pump too much water from its underlying aquifers, causing the land to collapse by almost a foot a year in some places.

Industry 4.0 has generated a new focus towards globalization and technology in Indonesia.  The emphasis on digital economic patterns, big data, robotics and artificial intelligence means exciting new opportunities for education.  Indonesian universities need to be more innovative in their curriculum and teaching to produce new generations of competent and competitive graduates in the face of this era of industrial revolution.  The ability to think critically, systemically, laterally and entrepreneurial are all key cognitive skills required of today’s post-secondary students.

In April 2019, READI  invited Alicia Rollo, CHRL from the Canadian Institute of Actuaries (CIA), to represent both the International Actuarial Association (IAA) and the Canadian Institute of Actuaries at education-related meetings in Jakarta, Indonesia. CIA has been a strong supporter for READI and its work from the very beginning with their letter of support to the University of Waterloo in 2014 to aid their proposal to Global Affairs Canada for the funding to build the actuary profession in Indonesia.