Showing 2 results for Hikmah
Yulial Hikmah, Vindaniar Yuristamanda, Ira Rosianal Hikmah, Karin Amelia Safitri,
Volume 33, Issue 2 (IJIEPR 2022)
Abstract
Flood is a serious problem that can occur in many countries in the world. For tropical countries such as Indonesia, flooding is generally caused by rainfall that is high above normal. Almost all cities in Indonesia experience flooding every year, including DKI Jakarta, the capital city of Indonesia. Based on data from the National Disaster Management Agency (BNPB) in 2020, East Jakarta is a city that is prone to flooding. Considering that there are so many losses caused by flooding, it is necessary to have a disaster mitigation effort to minimize the possible risk of flooding. One of the risk mitigations due to natural disasters is to buy insurance products. However, not all people buy flood-impacted insurance products because of their economic and social factors. This research aims to create a model with Probit Regression Model to determine the factors that influence Indonesian's interest to buy flood-impacted insurance products. Furthermore, this study conducts a test. The results show that from the 19 factors used, eight factors significantly affect Indonesia's interest in purchasing flood-impacted insurance products. In the end, this research calculates the level of model accuracy and obtained 84.3%.
Ayunda Anisa Soleha, Yulial Hikmah,
Volume 33, Issue 4 (IJIEPR 2022)
Abstract
One of the problems faced by insurance companies, especially for the business class that has a long tail, is the length of the claim settlement period until the claim is paid off because there are procedures that must be carried out, such as analyzing and justifying the claims submitted. The claims that are still in the process are divided into two, namely claims that reported but have not been settled (RBNS) and claims that incurred but have not been reported (IBNR). One method that is often used in estimating claim reserves is the Chain Ladder Method. However, this method is only able to estimate the IBNR claim reserve. In 2012, Martinez-Miranda, Nielsen, and Verrall developed a method that can generate predictions of claim reserves for IBNR and RBNS separately, namely the Double Chain Ladder method. This study aims to calculate the estimated reserves for claim using Double Chain Ladder (DCL) method. From the calculation results, it is found that the Double Chain Ladder (DCL) method can estimate the IBNR and RBNS claim reserves clearly and separately with a total estimated RBNS claim reserve is 101.492,792 (in million rupiahs) and the estimated IBNR claim reserve is 29.172,880 (in million rupiahs).
