Christian Evan Chandra, a student of the Actuarial Science Study Program, Class of 2017, Faculty of Mathematics and Natural Sciences, University of Indonesia (FMIPA UI) won the Asia Region Casualty Actuaries (ARECA) Actuarial Scholarship in the written or essay competition.
Cev, as he is often called, received this proud news via personal email and was also published on the official website of the Casual Actuarial Society on Friday, May 8, 2020. Thanks to his achievement, Cev became one of the undergraduate actuarial education students in the Asia Pacific Region who was entitled to receive a scholarship.
Cev wrote a paper titled “Electric Cars to Reduce Global Warming in Jakarta: Learning Its Additional Hazard on Motor and Property Insurance.” The paper’s main theme concerns efforts to address the impacts of climate change in participating countries, as well as the participants’ roles as actuaries anticipating potential changes in insurance needs.
Cev tries to formulate the right insurance products to provide protection for things affected by climate change.
Through his paper, the 21-year-old student expressed his ideas about the advantages and disadvantages of using electric cars as a solution to reduce global warming in Indonesia, as well as how an actuary prepares the right insurance product for electric car users.
Thus, electric car users and insurance companies can mutually benefit through this insurance product. The advantages and disadvantages of electric cars, Cev said, were crucial factors in formulating the insurance product design.
“My essay explains the advantages and disadvantages of using electric cars to reduce global warming in Indonesia, particularly in Jakarta, and how an actuary prepares insurance products for electric car users to benefit both parties. The advantages and disadvantages of electric cars are important factors in determining insurance products, both in terms of price and usage scenarios,” said Cev in an interview with the FMIPA UI public relations team.
Furthermore, regarding the technical instructions for designing the insurance product, along with the price formulation, and the details of the regulations, it cannot be explained in more depth because it concerns the confidentiality of data from the insurance company and the publication rights of the organizer.
Cev’s achievements prove that as a student majoring in actuarial science, one must be critical and sensitive to current events and emerging issues both nationally and globally, which could lead to changes in the needs and business processes of the insurance industry in the future.
“This has equipped me to become an actuary capable of keeping up with global competition in the insurance industry and other fields that rely on the crucial role of actuaries,” Cev added.
Dean of FMIPA UI Dr. Rokhmatuloh, M.Eng. welcomed the achievements of his students. He said, “FMIPA UI continues to encourage and provide full support to all outstanding students, both in academic and non-academic fields.” As encouragement and motivation to his students, he also guaranteed that every outstanding student, both at the national and international levels, would receive a special award from FMIPA UI. “For students who achieve achievements at both the national and international levels will receive a special award from FMIPA UI so that students are motivated to display the highest achievements they have in the events they participate in,” he said. He hopes that the achievements that have been carved by previous students can motivate more FMIPA UI students to be active in various competitions in academic and non-academic fields.
ARECA, as the organizer, is an affiliate of CAS (Casualty Actuarial Society), the general insurance professional association for the Asia Pacific region. ARECA joins 17 other CAS Regional Affiliates worldwide as providers of high-quality continuing education for CAS members.
