ABSTRACT
The majority of the workforce in Indonesia is constituted of the informal sector, whereas the Insurance and Pension plans here only provide coverage for the formal sector. Microinsurance is an alternative way to diminish the risks assumed by the low-income earners on unexpected incidents, especially those in informal sectors. Unlike conventional life/non-Life Insurance Products, microinsurance product must be designed and priced differently from conventional insurance products. There are great opportunities for actuaries to play a role in this area. With the support from the Government and Actuarial Society, actuaries could contribute significantly to the growth of the Micro-insurance market to benefit the population of Indonesia.
Paper on Microinsurance in Indonesia (ICA 2010, Cape Town)
Sunday, July 24, 2011
Saturday, March 20, 2010
You Can Only Guess If an Unexpected phone call will bother you or not…
These days we have many options way to communicate with others. Now talking on phone becomes something rare to do to me. I prefer to send a text message, an email or to have an on-line chatting with my family and mates. Therefore a phone call sometimes bothers me so much. Especially a phone call from an anonymous who is calling only to offer a product. I receive at least one akin phone call in a week. Most of them are telemarketer from a bank or an insurance company.
I often answer in an ill-mannered, and sometimes hang-up the phone right away when they are becoming loud-mouthed and did not want to receive any rejections from me. Sometimes I regret my reaction when thinking how disappointed the telemarketer will be.
Until one day I got my return. My boss asked me to assist other department in conducting a market survey on an offshore investment product. We have to call our big client-list and asking if they have any intention to buy the new product.
Following my experienced colleague’s suggestion, I started the survey at 2 pm. My first target was a woman who then asked me to contact her later since she was at the ATM at that time. I called the second mobile number on my list, but no one answered. I tried to call his office number several time, but the receptionist always said that the man was not at office. I put “Failed to contact” on the result column and moved to the next contact line. After that I could talk to the third candidate that immediately said “no” and disconnected the phone when I explained the reason I called her. The next woman I called also hanging-up the phone right away when I started to introduce my self.
After four times failed, I tried to call the client at their home telephone numbers. Finally I could talk to a woman who was with patience answering the 10 questions I asked, although most of her answers are “I don’t know”. As predicted before, the next five candidates I called were not at home. But I was feeling quite relieved by the nice responses I got from those who answered the phone. By the way they were talking; my prediction was that they are the helper at the house. It’s so ironic recalling the responses I got from the more educated people that was really impolite to me.
Then I move to the clients who are domiciled in other town. An old man – my prediction by recognizing his tone – was willing to join the survey. But what was happened next is I must listen to his 10 minutes complain on the services the man has been receiving in the five years of participation of one of my company’s investment-linked policy. I really wanted to scream so he could stop talking at the time. “Hey, I’m not a hot-line service girl!” Thanks God he finally turned down his voice after I said that I will report his complains to the company’s management.
The next conversation with other respondent was also got my nerves, so I decided to stop calling the clients. “I don’t deserve this”, I whispered. “I’m an assistant manager of a multinational insurance company who earned a master degree from the top university in Indonesia. But Hey..do they care who I am? Off-course not. What they know that I was only somebody who unexpectedly called them and bothered their activities at that time.
After two days calling, I got 5 respondents over the 30 clients list I have. My friend who often does the telemarketing said that it was a good achievement for an amateur like me. I really can’t imagine how stressful I am going to be If I have to do the job everyday.
Afterwards, I turn to be a woman who always tries to talk nicely to everyone on phone. But in the busy time, I prefer to ignore or press the red button when receiving a phone-call from someone whose number is not recorded in my phone-book. Because I can only guess if the unexpected call will bother me or not.
I often answer in an ill-mannered, and sometimes hang-up the phone right away when they are becoming loud-mouthed and did not want to receive any rejections from me. Sometimes I regret my reaction when thinking how disappointed the telemarketer will be.
Until one day I got my return. My boss asked me to assist other department in conducting a market survey on an offshore investment product. We have to call our big client-list and asking if they have any intention to buy the new product.
Following my experienced colleague’s suggestion, I started the survey at 2 pm. My first target was a woman who then asked me to contact her later since she was at the ATM at that time. I called the second mobile number on my list, but no one answered. I tried to call his office number several time, but the receptionist always said that the man was not at office. I put “Failed to contact” on the result column and moved to the next contact line. After that I could talk to the third candidate that immediately said “no” and disconnected the phone when I explained the reason I called her. The next woman I called also hanging-up the phone right away when I started to introduce my self.
After four times failed, I tried to call the client at their home telephone numbers. Finally I could talk to a woman who was with patience answering the 10 questions I asked, although most of her answers are “I don’t know”. As predicted before, the next five candidates I called were not at home. But I was feeling quite relieved by the nice responses I got from those who answered the phone. By the way they were talking; my prediction was that they are the helper at the house. It’s so ironic recalling the responses I got from the more educated people that was really impolite to me.
Then I move to the clients who are domiciled in other town. An old man – my prediction by recognizing his tone – was willing to join the survey. But what was happened next is I must listen to his 10 minutes complain on the services the man has been receiving in the five years of participation of one of my company’s investment-linked policy. I really wanted to scream so he could stop talking at the time. “Hey, I’m not a hot-line service girl!” Thanks God he finally turned down his voice after I said that I will report his complains to the company’s management.
The next conversation with other respondent was also got my nerves, so I decided to stop calling the clients. “I don’t deserve this”, I whispered. “I’m an assistant manager of a multinational insurance company who earned a master degree from the top university in Indonesia. But Hey..do they care who I am? Off-course not. What they know that I was only somebody who unexpectedly called them and bothered their activities at that time.
After two days calling, I got 5 respondents over the 30 clients list I have. My friend who often does the telemarketing said that it was a good achievement for an amateur like me. I really can’t imagine how stressful I am going to be If I have to do the job everyday.
Afterwards, I turn to be a woman who always tries to talk nicely to everyone on phone. But in the busy time, I prefer to ignore or press the red button when receiving a phone-call from someone whose number is not recorded in my phone-book. Because I can only guess if the unexpected call will bother me or not.
Sunday, June 10, 2007
A Thoughts of Steven Tanner
It's just a thoughts I had 4 years ago for my previous boss, Steven Tanner. I still have the same thoughts today...hope It will never change...
Jakarta, April 2003
I have a big boss named Steven Tanner. He is a Pisces, too. Maybe this that makes me, really understand him. We have many things in common. He is 42 years old. This year, I didn’t have to buy new candles to celebrate my 24th birthday that was exactly 1 week after his birthday.
Mr. ST (an abbreviation from “Sok Tau”) is my second boss. I first met him when I was an apprentice student at PT TAM. He was such a man who talks too much at the first meeting. He was asking the guitar that was under my desk, papers I worked on, Statistical proposal on my wall-desk, my college and so on. Lucky me, he didn’t ask what is my name. I’m sure that it would make him ask me more and more.
What I know about him at that time was only that he works for an actuarial consulting firm (I have no idea what kind of firm it was). Because I didn’t know what else to say, I told him that I have passed one exam that conducted by PAI, but I can’t afford to continue to other exams. Surprisingly, He walked fast to the division headroom.
“Jo, tell that child to continue studying actuary then I will pay the exam fee.” He pointed to me. Mrs. Johana Jonatan the woman he was talked to was smiling with humble. “I will, Steve. You know what? She is my niece.”
Then Mr. ST gave his business card to me and told me to contact him when I have finished my college.
Now, here I am, an actuarial analyst at Dayamandiri. Honestly, I don’t know what an actuarial analyst exactly is. But many things I have learned there. It’s not only about actuary, but also about a study of life. For Mr. ST, Life is not about money. He prefers to give all his salary than to see his employees can’t afford to eat. I’m sure that many people owe him. By the way, he promised that he would pay my tuition fee when he find out that I really dreamed of continuing my study. He keeps telling me that the important thing to be a smart one is by reading books. Mathematical books, of course.
One thing I hate from him, that he couldn’t keep his word to not understanding people, but accept them just the way they are. He will be extremely judgmental when he meets people who still don’t understand his rapidly explanation. The worst, he becomes a freaky man when people did not do tasks he gave like he wanted to.
Just like a Pisces usually is, Mr. ST is a moody person. We all could see whether he is in a good-mood or bad-mood by watching his face when he first get into the office room. Don’t talk to him when his face looks like a bulldog or his face is as cold as an ice. Talk to him when he is in a bad time means messing up your day!!
But, not like me, Mr ST has a heart that is wider than a soccer field. He will ask an apology after he mad to someone. Just wait for his SMS! But don’t forget to reply it, because he will keep sending the same SMS until you have replied it.
Mr St is not only a big boss for me. He is a friend, a father and a person who always give me a motivation to keep struggling in this life.
Jakarta, April 2003
I have a big boss named Steven Tanner. He is a Pisces, too. Maybe this that makes me, really understand him. We have many things in common. He is 42 years old. This year, I didn’t have to buy new candles to celebrate my 24th birthday that was exactly 1 week after his birthday.
Mr. ST (an abbreviation from “Sok Tau”) is my second boss. I first met him when I was an apprentice student at PT TAM. He was such a man who talks too much at the first meeting. He was asking the guitar that was under my desk, papers I worked on, Statistical proposal on my wall-desk, my college and so on. Lucky me, he didn’t ask what is my name. I’m sure that it would make him ask me more and more.
What I know about him at that time was only that he works for an actuarial consulting firm (I have no idea what kind of firm it was). Because I didn’t know what else to say, I told him that I have passed one exam that conducted by PAI, but I can’t afford to continue to other exams. Surprisingly, He walked fast to the division headroom.
“Jo, tell that child to continue studying actuary then I will pay the exam fee.” He pointed to me. Mrs. Johana Jonatan the woman he was talked to was smiling with humble. “I will, Steve. You know what? She is my niece.”
Then Mr. ST gave his business card to me and told me to contact him when I have finished my college.
Now, here I am, an actuarial analyst at Dayamandiri. Honestly, I don’t know what an actuarial analyst exactly is. But many things I have learned there. It’s not only about actuary, but also about a study of life. For Mr. ST, Life is not about money. He prefers to give all his salary than to see his employees can’t afford to eat. I’m sure that many people owe him. By the way, he promised that he would pay my tuition fee when he find out that I really dreamed of continuing my study. He keeps telling me that the important thing to be a smart one is by reading books. Mathematical books, of course.
One thing I hate from him, that he couldn’t keep his word to not understanding people, but accept them just the way they are. He will be extremely judgmental when he meets people who still don’t understand his rapidly explanation. The worst, he becomes a freaky man when people did not do tasks he gave like he wanted to.
Just like a Pisces usually is, Mr. ST is a moody person. We all could see whether he is in a good-mood or bad-mood by watching his face when he first get into the office room. Don’t talk to him when his face looks like a bulldog or his face is as cold as an ice. Talk to him when he is in a bad time means messing up your day!!
But, not like me, Mr ST has a heart that is wider than a soccer field. He will ask an apology after he mad to someone. Just wait for his SMS! But don’t forget to reply it, because he will keep sending the same SMS until you have replied it.
Mr St is not only a big boss for me. He is a friend, a father and a person who always give me a motivation to keep struggling in this life.
Thursday, November 02, 2006
Alternatives Funding on Post-Employment Benefits Under Labor Law 13/2003
-ABSTRACT-
There are two types of post-employment benefits for public sector in Indonesia, the compulsory and voluntary benefits. The compulsory benefits are provident funds that provided by the workforce social security and the benefits that should be given based on the stipulation in the Labor Law no. 13 year 2003 (“the Labor Law”). The voluntary benefits are given by a pension plan that is established under the Pension Law no. 11 year 1992 (“the Pension Law”).
A pension plan, especially the defined benefit plan, needs a regular and systematic funding to fulfill the liability of providing benefits for all of the pension plan participants. On the contrary, there is no regulation or direction of funding on the post-employment benefits under Labor Law which are calculated using a defined benefit formula.
A company that paid the post-employment benefits by pay-as-you-go system and accrued the real payment in the company’s balance sheet, may have a fluctuate cost that lead to the bad budgeting and miscalculation of profit in the long-term. Moreover, nonexistence of separated fund can not guarantee the post-employment benefits payment for all of the beneficiaries.
A company that already has a pension plan may integrate its pension plan to the stipulation of providing post-employment benefits under Labor Law. The integration should be implemeted according to an agreement reached by the employees and the employer.
The integration for the company without a pension plan could be implemented by establishing a pension plan. The company may choose to establish a defined benefit plan, defined contributions plan, or a hybrid plan, whichever is the most suitable to the interests of company and employees as well. The funding and implementation on the pension plan could be done by setting up a pension fund according to the Pension Law, or leave the implementation conducted by a third party. The design of a pension plan should consider the replacement income ratio at retirement age, company’s financial condition, and justness between all employee classifications.
Friday, October 06, 2006
Hari ini Xal 1 tahun 3 bln 2 hari
Hari ini Xal 1 tahun 3 bln 2 hari... Sekarang Xal dah mau aku pangku...malah kadang2 dia tidur di pelukanku sampai aku pegel karena harus ngetik komputer dengan satu tangan... dia juga dah bisa cukup lama duduk di kaki belakangnya yang pendek itu supaya bisa ambil ikat rambut yang aku gantung di music stand... lebih sering gak berhasil.... kalo dah putus asa, pasti dia 
gonggongin ikat rambut itu sambil maju mundur kaya mau ngajak perang.... beraninya ama iket rambut.... kalo ketemu kucing bisanya cuma nangis atau gonggong tapi dengan posisi siap-siap lari.... sayang, makin gede mulutnya makin bau.. padahal aku dah kasih dia ½ breath mints tiap hari, rawhide di pagi dan sore, dan sikat gigi sebelum tidur atau waktu dia ke-gap jilat2 pup-nya sendiri.... Xal paling suka nyontok bibir...terutama jam lima subuh setelah pup di kamar mandi....dia baru mau tidur setelah aku siram pup-nya...tapi kalau aku males bangun, dia akan terus nyontok mulut aku sampai aku bangun... Kalau lagi tega, aku kerangkeng aja mulutnya.... dia pasti langsung tidur di atas bahuku dengan mata menatapku iba... kalau lagi butuh tidur, aku akan membiarkan dia di posisi yang sama sampai keesokan harinya.. biasanya dia baru mau bangun setelah kerangkengnya dibuka.... Walau mulutnya bau, aku gak pernah berhenti ciumin dia terus...aku juga mulai sering ngajak ngobrol walau dia cuma bisa 
memiringkan kepalanya ke kiri dan ke kanan tanda gak ngerti.... Tapi dia sensitif banget sama kata-kata ”mo ayan-ayan? (baca: mau jalan-jalan?)”....”byur-byur? (baca:mandi yuk)”......”mo emen?(baca:mau permen?)”...”mo bong? (baca:mau bones?)” Aku paling suka cium kupingnya....lembut banget....tp biasanya dia suka gigit dagu aku kalu aku cium kupingnya.... Terus aku bilang...”kamu gak boleh jahat sama orang yang sayang sama kamu.....” Kalau abang denger aku ngomong gitu, pasti dia langsung komentar.....”baek-baek de, ntar gila....” dia lupa sering ngelitikin xal walau tau xal gak punya ketek.... Monday, October 02, 2006
Roles of Actuaries and Actuarial Association In Developing Actuarial Professionalism in Addressing Good Governance in Indonesia
ABSTRACT
Governance is a regulation, code of conduct, principle, and practices that will bring the company towards mission, vision, and its long-term goal. Good Governance intends to provide higher customer satisfaction, to increase the moral and commitment of the employees, to increase the value of company and to provide
contributions in solving public issues. Actuary as a profession who works in
financial institutions market, mostly in non-bank financial institutions market,
has a major role in addressing either good corporate governance or good pension
fund. Therefore, actuaries along with actuarial association must be developing
actuarial profession either by quantity or quality to get the recognition or
accountability in playing the major role. There are three ideas involved in a
profession; they are continuous learning, organization, and a spirit of public
service. By those ideas, I try to describe what Society of Actuaries of Indonesia (PAI)has been doing in developing actuarial professionalism in addressing good
governance in Indonesia for the last few years.
Governance is a regulation, code of conduct, principle, and practices that will bring the company towards mission, vision, and its long-term goal. Good Governance intends to provide higher customer satisfaction, to increase the moral and commitment of the employees, to increase the value of company and to provide
contributions in solving public issues. Actuary as a profession who works in
financial institutions market, mostly in non-bank financial institutions market,
has a major role in addressing either good corporate governance or good pension
fund. Therefore, actuaries along with actuarial association must be developing
actuarial profession either by quantity or quality to get the recognition or
accountability in playing the major role. There are three ideas involved in a
profession; they are continuous learning, organization, and a spirit of public
service. By those ideas, I try to describe what Society of Actuaries of Indonesia (PAI)has been doing in developing actuarial professionalism in addressing good
governance in Indonesia for the last few years.
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