Bogor, West Java. On 19th October 2017, the Institut Pertanian Bogor (IPB), one of the dynamic READI project’s partner universities, conducted the 4th International Seminar on Sciences (ISS). The 4th ISS, which was organized by the Faculty of Mathematics and Natural Sciences, focused on 12 major topics, one of which was Actuarial Science and Risk Theory. The READI project co-sponsored this year’s ISS and provided two notable speakers; Prof. Johnny Li (University of Waterloo) and Mr. Fabio Laurent Lumantau, ASA (Milliman Indonesia).
H.E. Peter MacArthur, Ambassador of Canada for Indonesia, delivered opening remarks at the 4th ISS Opening. During his speech, the Ambassador underlined the importance of IPB roles as a key university partner for READI project, which aims to build a solid foundation for economic growth and stability in Indonesia by strengthening the country’s actuarial profession. The Ambassador also highlighted IPB’s strong commitment to green development noting that several IPB faculty and departments have been involved in the Kyoto Protocol Ratification and the 2nd (Indonesian) National Action Plan for Reducing Greenhouse Gas Emission. IPB has also served as the Indonesian focal point for the United Nations Framework Convention on Climate Change.
During the first day of the 4th ISS, University of Waterloo’s Professor Johnny Li presenting his paper on “Hedging Crop Yield with Exchange-Traded Weather Derivatives. On the second day, Mr. Fabio Laurent Lumantau, ASA of Milliman Indonesia delivered his presentation on “Actuarial Science for Green Development”.
Actuaries are in a good position to support sustainable/green development, since they have the skills and experience in modelling of risks”
Overall the seminar served as good platform to introduce hundreds of science lecturers, researchers and students to Actuarial Science, illustrating how Actuarial Science is applicable to many disciplines and sectors, not just the insurance industry. Given actuaries’ skills and experience generating and modelling of the outcomes for economic activities, and the eclectic nature of the actuarial science discipline, the actuarial profession holds a unique position in society enabling the profession to make unique contributions to forecasting, assessing and mitigating financial risks related to environmental, social and economic challenges.
From left to right:
Dr. Yessie Widya Sari, M.Si (Chairperson of the 4th ISS); Dr. Arif Imam Suroso. MSc (IPB Vice Rector); H.E. Peter MacArthur (Ambassador of Canada for Indonesia) and Dr. Sri Nurdiati, MSc (Dean of Faculty of Mathematics and Natural Science)
