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READI Newletter
Thursday, November 2, 2017

READI Newsletter - Volume 2

The READI (Risk Management, Economic Sustainability and Actuarial Science Development in Indonesia) project aims to increase the number and quality of Indonesian actuarial science graduates to address the country’s growing demand for actuaries. In collaboration with Government of Indonesia, insurance industry, key university partners and the Persatuan Aktuaris Indonesia (PAI), the READI project aims to develop Indonesia as a center of actuarial science excellence. Project efforts will supplement the Otoritas Jasa Keuangan (OJK)’s 1,000 Actuaries program by providing gender-equitable opportunities and support for innovative, high-quality actuarial science education, certification and professional development.

Denpasar, Bali 27th October 2017 - During the annual PAI (Society of Actuaries of Indonesia) Conference
Friday, October 27, 2017

Collaboration is the Key

Denpasar, Bali 27th October 2017 - During the annual PAI (Society of Actuaries of Indonesia) Conference, one of the main agenda items was the signing of a MoU (Memorandum of Understanding) between the University of Waterloo/READI and PAI with AAJI (Indonesian Association of Life Insurance Agencies) for collaboration on the development of updated Mortality Tables for Indonesia.  The MoU formalizes co-operation between the tripartite to develop updated mortality tables to support the Indonesian life insurance industry.  UWaterloo/READI will provide technical assistance to support the joint venture with UWaterloo’s Professor Ken Seng Tan slated to play a leading role by providing technical guidance and advice.  As part of its higher education capacity building efforts, the READI project will contract selected READI university partners to provide assistance with related data analysis.

This MoU will help to strengthen linkages between READI and the PAI and AAJI along with working relations between the insurance industry and selected READI partner universities working to enhance actuarial science education in Indonesia.  The initiative will support the development of the actuarial profession in Indonesia by providing opportunities for targeted research and the publication and use of up-to-date mortality tables.