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Actuary: A Rarely Interested Profession, But Promising

The need for an actuary profession is currently increasing, but the number is still lacking in Indonesia. Based on data from the Indonesian Actuary Association (PAI), the number of professional actuaries up to the period of June 5, 2016 was only around 235 people. This amount is not comparable to the needs of actuary power that reaches 1000 and will continue to grow every year.

“The small number of applicants in the actuary profession in Indonesia is due to the lack of information about the picture and the opportunity for an actuary career. In fact, this is a promising profession,” explained Windawati Azmi, Mathematics Outreach Officer from Risk Management, Economic Sustainability, and Actuarial Science Development in Indonesia (READI). She conveyed this in a seminar entitled ‘Actuary, the Largest Career Opportunity in Mathematics’. This seminar is part of the 2018 International Education Expo held by SUN Education Group at the Le Meridien Hotel, Jakarta, on 4 August.

actuary profession

Windawati Azmi, Mathematics Outreach Officer from READI. Photo: SUN

In front of 64 participants, Azmi emphasized the importance of the role of actuaries in evaluating risk possibilities, as well as determining the right strategy to protect someone from these risks. In predicting the risk, continued Azmi, an actuary involves the science of calculation which is the basis of actuarial science. “A professional actuary must master a strong foundation in mathematics that involves statistics, probability, finance and computer science. These skills are needed to manage risks in the future,” she explained.

In life, we certainly cannot escape risks, such as illness, death, accidents, fires, and so forth. That is what makes the actuary profession have bright prospects. “Risk is an opportunity for actuaries. Later, the actuary is tasked with quantifying the disaster. That is why the actuary profession is quite important. The role of actuaries is as important as the medical profession, because it is in charge of helping people from the shackles of risk, “said Dr. Helena Margaretha, M.Sc., Coordinator of Actuarial Concentration and Business Mathematics, Pelita Harapan University (UPH), Jakarta.

Dr. Helena Margaretha, M.Sc., Coordinator of Actuarial Concentration and Business Mathematics, Pelita Harapan University (UPH). Photo: SUN

Helena continued, the actuary profession is needed in various fields that are closely related to risk, especially in the financial, insurance (life and non-life), banking, investment, capital market and social security programs. In addition, the actuary profession now also penetrates the field of data analytics, which requires business risk analysts.

With great job responsibilities, it is normal for an actuary’s salary to be high enough. Based on salaryexpert.com information, an actuary who is still in the entry-level stage receives an average salary of Rp. 311 million per year.

Even so, the process of becoming a professional actuary is quite long and challenging. This was felt by Katrin Ravina, a final semester student majoring in Mathematics, UPH, Jakarta. “In my opinion, the challenge of learning Actuarial Science is the matter of maintaining discipline. “We are required to continue to study and fight to get professional certification. Although difficult, I am sure that I will get through it. Because everything will be beautiful in the right time,” said the student who is currently doing an internship at one of the leading insurance companies in Indonesia.

Katrin Ravina, a final semester student majoring in Mathematics, UPH. Photo: SUN

At the end of the seminar, Katrin emphasized the importance of mastering mathematics for students who want to take an actuarial course. “Mathematical logic is the basis of actuarial science. This is also the actuary’s ‘weapon’ to calculate risk, make a program, analyze, and process data,” said Katrin.

Well, for those of you who like math and want to have promising career opportunities, Actuarial Science is worth choosing!

Do you want to know which university provides Actuarial Science majors? Search here SUN Course Navigation. For complete consultation regarding the management of Computer Science courses abroad, visit the nearest SUN office.

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