The Indonesian Actuarial Journal publishes original research in actuarial science, in both its theoretical and applied forms, and serves actuaries in practice and in research across Indonesia and the wider region.

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e-ISSN 3110-6463  |  DOI prefix 10.65689  |  Published since 2025

Current Issue

Vol. 2 No. 1 (2026)

Published: 31 July 2026

Original Research Article

Measuring Risk Aversion Behavior Using Szpiros Approach: Case Study in Indonesias Life Insurance Industry

10.65689/iajvol2no1pp001-012
Kristio Rapi (1), Dominicus Savio Priyarsono (2), Siti Jahroh (3), Toni Bakhtiar (4)
(1) School of Business, IPB University, Bogor, Indonesia ,
(2) Department of Economics, IPB University, Bogor, Indonesia ,
(3) School of Business, IPB University, Bogor, Indonesia ,
(4) Department of Mathematics, IPB University, Bogor, Indonesia
001-012
PDF
284

Forecasting and Financial Risk Analysis Using ARIMA Intervention Model: A Case Study on JMAS Tbk

10.65689/iajvol2no1pp013-023
Rina Yuliantika (1), Indah Gumala Andirasdini (2)
(1) Department of Actuarial Science, Institut Teknologi Sumatera, South of Lampung, Indonesia ,
(2) Department of Actuarial Science, Institut Teknologi Sumatera, South of Lampung, Indonesia
013-023
PDF
171

Multiple Decrement Modeling of BPJS Health Transitions Under Air Pollution Exposure in DKI Jakarta

10.65689/iajvol2no1pp024-039
Bernadeth Saskia Laudya Cintya (1), Leyton Raynaldo Ozzora (2), Helena Margaretha (3), Ferry Vincenttius Ferdinand (4)
(1) Mathematics Department, Faculty of Science and Technology, Universitas Pelita Harapan, Tangerang, Indonesia ,
(2) Mathematics Department, Faculty of Science and Technology, Universitas Pelita Harapan, Tangerang, Indonesia ,
(3) Mathematics Department, Faculty of Science and Technology, Universitas Pelita Harapan, Tangerang, Indonesia ,
(4) Mathematics Department, Faculty of Science and Technology, Universitas Pelita Harapan, Tangerang, Indonesia
024-039
PDF
188

Estimation of Ruin Probabilities in an Extended Risk Model with Inhomogeneous Claim Counts and Financial Risks

10.65689/iajvol2no1pp040-051
Nyanumba Walter Motanya (1), Oduar D. Brian (2), Joseph O. Nyakinda (3)
(1) Jaramogi Oginga Odinga University of Science and Technology, Kenya ,
(2) Jaramogi Oginga Odinga University of Science and Technology, Kenya ,
(3) Jaramogi Oginga Odinga University of Science and Technology, Kenya
040-051
PDF
187

Government Employees with Employment Agreements Pension Fund Valuation Across 17 Salary Grades Using Entry Age Normal and Projected Unit Credit

10.65689/iajvol2no1pp052-068
Khalil Rafif (1), Illuminata Wynnie, S.Si., M.Si. (2)
(1) Actuarial Science, Mathematics Departement, Hasanuddin University, Makassar, Indonesia ,
(2) Actuarial Science, Mathematics Departement, Hasanuddin University, Makassar, Indonesia
052-068
PDF
221

Robust E-Bayesian Estimation and Prediction of Esscher Premium for Car Insurance Claim Frequencies Under a Negative Binomial Model

10.65689/iajvol2no1pp069-080
Eli Zulkatri (1), Muhammad Azka (2), Ahmad Fuad Zainuddin (3)
(1) Actuarial Science, Institut Teknologi Kalimantan, Balikpapan, Indonesia ,
(2) Actuarial Science, Institut Teknologi Kalimantan, Balikpapan, Indonesia ,
(3) School of STEM, Universitas Prasetiya Mulya, Tangerang, Indonesia
069-080
PDF
213

Stochastic Multi-State Modeling for Critical Illness Insurance With Integration of Non-Homogeneous Trends and Pandemic Shocks

10.65689/iajvol2no1pp081-095
Kenneth Gunawan (1), Helena Margaretha (2), Wastu Winayaka (3)
(1) Department of Mathematics, Faculty of Science and Technology, Universitas Pelita Harapan ,
(2) Department of Mathematics, Faculty of Science and Technology, Universitas Pelita Harapan ,
(3) Department of Mathematics, Faculty of Science and Technology, Universitas Pelita Harapan
081-095
PDF
282

Portfolio Optimization and Risk Estimation of LQ45 Mining Stock Using The ARIMA-GARCH-EVT-COPULA Hybrid Model as Alternative Pension Fund Investment

10.65689/iajvol2no1pp096-111
Dyah Ayu Mahanani (1), Galuh Oktavia Siswono (2), Ulil Azmi (3)
(1) Department of Actuarial, Faculty of Science and Data Analytics, Sepuluh Nopember Institute of Technology, Surabaya, Indonesia ,
(2) Department of Actuarial, Faculty of Science and Data Analytics, Sepuluh Nopember Institute of Technology, Surabaya, Indonesia ,
(3) Department of Actuarial, Faculty of Science and Data Analytics, Sepuluh Nopember Institute of Technology, Surabaya, Indonesia
096-111
PDF
207
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