Perhitungan Cadangan Asuransi Tahunan dengan Metode Gross Premium Valuation menggunakan Bahasa Pemrograman Python

Abstract

Reserves are crucial for insurance companies because it is used to avoid unexpected risk such as unexpected claims and others. Insurance companies are required to have premium reserves and be able to manage them properly in order to cope with future claims by policyholder. There-fore, it is important for insurance companies to calculate reserves. To calculate reserves, insurance companies use a tool in the form of an application. Based on a survey conducted at 2019 Indonesian Actuaries Summit, there are 23% of insurance companies in Indonesia that still use conventional applications because the price offered to buy the more modern application such as Prophet is quite expensive. Meanwhile, the use of conventional application requires a relatively longer time with a higher probability of error in calculating reserves. Therefore, an application program for calculating insurance reserves is needed that can complete calculations more effectively, cheaply, and easily. This study designed GPV Reserve application using the Python programming lan-guage to calculate reserves for endowment life insurance using the Gross Premium Valuation (GPV) model approach. This application can be a tool for life insurance companies in calculating insurance reserves, es-pecially with endowment life insurance products.