Bachelor of Actuarial Science
History
Actuarial science is a branch of study that focuses on managing financial risks in the future by applying theories from mathematics, probability, statistics, economics, finance, communication, and psychology. It addresses real-world business problems involving the estimation of uncertainties in future events that have financial implications.
The rapid growth of the insurance and risk management industries in Indonesia has driven the need for skilled professionals with specialized expertise in life insurance, general insurance, pension funding, social security, finance, banking, and risk management. Universitas Padjadjaran, as a higher education institution under the Ministry of Research, Technology, and Higher Education, plays an active role in supporting the availability of human resources by developing undergraduate education in actuarial science. As stated in its statutes under Government Regulation No. 51/2015, Universitas Padjadjaran, as a Legal Entity State University (PTN-BH), has autonomy in both academic and non-academic matters, including establishing new study programs.
To meet the market demand for skilled actuaries, the Department of Statistics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, formalized its actuarial track, which had been operational for 15 years since 2003 within the undergraduate statistics program, into a new Undergraduate Program in Actuarial Science. This program was officially established on February 15, 2018, under Rector Decree No. 113/UN6.RKT/Kep/HK/2018. Admissions for the first cohort (2018) and second cohort (2019) were conducted through the SBMPTN and SMUP selection paths. Starting in 2020, the program began admitting students through SNMPTN, SBMPTN, and SMUP.
Furthermore, since December 15, 2017, a collaboration has been established between the Faculty of Mathematics and Natural Sciences and the Society of Actuaries of Indonesia (PAI) to enhance human resource quality in actuarial science. This collaboration includes certification equivalencies for PAI exams for students from the Statistics and Mathematics undergraduate programs. The Statistics program received equivalency for four actuarial exams.
Vision, Mission, and Objectives
In line with its duties and functions as an academic program, as well as in accordance with the demands of stakeholders and the developments in science and technology, the Actuarial Science Program has the following vision, mission, and objectives:
Visi
To establish the Actuarial Science Program as a competitive entity at the ASEAN regional level, with a strong commitment to advancing ACTUARIAL EDUCATION and RESEARCH
Misi
Conduct education in actuarial science using an Outcome-Based Education (OBE) curriculum aligned with the Indonesian National Qualifications Framework (KKNI) to foster teaching and learning that strengthens and synthesizes ideas for developing educational programs and research. This includes strategic areas such as estimating the magnitude of future financial risks, decision-making, business data analysis, and actuarial science.
Conduct research and innovation in insurance business, consultancy, and actuarial decision-making to support the application of actuarial expertise recognized at the national and ASEAN levels.
Implement community service integrated with research and innovation in actuarial science to address societal issues effectively.
Forming academic people who have a culture of RESPECT (Responsibility, Excellence, Scientific, Professionalism, Encouragement, Creative, and Trust)
Objectives
- The formation of academic people who have academic excellence and uphold local culture.
- The realization of Actuarial Science PS that interacts intensively with the user community.
- The achievement of human resources and professional graduates in the field of Actuarial Science who are able to be independent and responsible, highly competitive at the National and ASEAN levels.
- Establishing a climate for real problem-based partnership research with user communities, consultants, and financial institutions.