On Thursday, September 24, 2026, the Center for Mathematics and Society Studies held a guest lecture titled “Application of General Insurance,” delivered by Mr. Billy Tanuwijaya, S.T., M.Sc., FSA, an alumnus of the Undergraduate Chemical Engineering Study Program at UNPAR and the Master of Science in Actuarial Management program at UCSI University, Malaysia.
During the guest lecture, Mr. Billy first shared his experience transitioning from chemical engineering to actuarial science. After graduating from the UNPAR Undergraduate Chemical Engineering Study Program in 2016, he worked as a Planning Engineer at PT Lautan Organo Water, Indonesia, from 2016 to 2018. While working, he began taking several Society of Actuaries (SoA) exams. In 2018, he pursued a Master of Science in Actuarial Management at UCSI University, Malaysia. Subsequently, he worked at Nicholas Actuarial Solutions, now known as Actomate, as an Actuarial Analyst from 2019 to 2022 and as an Associate Actuary from 2022 to 2023. In 2024, he joined Chubb Malaysia as an Actuarial Manager, holding the position until 2026. From 2026 to the present, he has served as a Senior Actuarial Manager at the same company. Also in 2026, he successfully passed all the exams required to earn the Fellow of the Society of Actuaries (FSA) designation.
In the core section of the guest lecture, Mr. Billy provided insights into general insurance, including the scope of work within the field. In general, work in general insurance can be divided into three areas: pricing, reserving, and product development. Pricing relates to determining premiums that correspond to the level of risk borne by the insurance company, while reserving deals with calculating the reserve funds that must be prepared to meet the company’s future obligations. Meanwhile, product development focuses on the design and development of insurance products, including determining benefits, coverage scope, and policy terms. Mr. Billy also explained that general insurance can provide protection against various types of risks, such as vehicles, equipment and assets in buildings under construction, completed properties, third-party liability risks, and others. Furthermore, Mr. Billy discussed reserves in general insurance. Broadly speaking, reserves in general insurance can be divided into two categories: claim reserves and premium reserves. Mr. Billy explained that claim reserves are funds set aside to pay claims for events that have already occurred, while premium reserves are funds set aside to cover obligations related to ongoing coverage in future periods.
At the end of the session, Mr. Billy shared an important adjustment needed when transitioning from university life to the professional working world. According to him, many graduates are highly capable of performing calculations and applying formulas, but are often less skilled at interpreting the results and communicating them to superiors or colleagues. This means that technical skills alone are not enough; a professional must also be able to understand the meaning behind the analysis results, explain their implications clearly, and convey them in a language that can be understood by stakeholders from diverse backgrounds.
The Center for Mathematics and Society Studies expresses its gratitude to Mr. Billy Tanuwijaya, S.T., M.Sc., FSA, for his willingness to share his insights and experiences through this guest lecture, and hopes that this event will further foster the interest and enthusiasm of Mathematics Study Program students, especially those interested in general insurance.
