Bachelor of Science in Actuarial Science

Accreditation

2018 Accreditation

Upon its establishment, the Undergraduate Program in Actuarial Science received the initial accreditation required by the National Accreditation Board for Higher Education (BAN-PT) in 2018.

This status indicates that the Undergraduate Program in Actuarial Science is qualified to conduct educational and academic activities in accordance with nationally applicable higher education regulations and quality standards.

2021 Accreditation

The Undergraduate Program in Actuarial Science, administered by the Department of Actuarial Science in the Faculty of Science and Data Analytics (FSAD) at Institut Teknologi Sepuluh Nopember (ITS) officially received a “Good” (Baik) accreditation rating from BAN-PT in 2021.

This accreditation decision is outlined in BAN-PT Decree No. 11864/SK/BAN-PT/AKRED/S/X/2021, serving as recognition that the Undergraduate Program in Actuarial Science meets national higher education quality standards.

This achievement marks an important milestone in strengthening the academic quality of the Undergraduate Program in Actuarial Science and reinforces the Program’s commitment to continuous improvement in the areas of curriculum, resources, governance, and scholarly contributions in the field of actuarial science.

2025 Accreditation

With deep gratitude and pride, we are pleased to announce that the Undergraduate Program in Actuarial Science, Faculty of Science and Data Analytics (FSAD), at Institut Teknologi Sepuluh Nopember (ITS), was awarded the “Excellent” accreditation status from the Independent Accreditation Agency for Natural Sciences and Formal Sciences (LAMSAMA) in 2025.

This accreditation status was pursuant to LAMSAMA Decree No. 186/SK/LAMSAMA/Akred/S/VI/2025, as recognition of the program’s in the meeting the highest standards of higher education quality, the quality of academic governance, as well as the relevance and contribution of the Actuarial Science Bachelor’s Program to the needs of industry and society.

Achieving this “Excellent” accreditation is the result of the collective efforts of the entire academic community, the support of alumni, and strong partnerships with various stakeholders. The Undergraduate Program in Actuarial Science remains committed to continuously enhancing the quality of education, research, and community engagement while preparing competent, professional, and ethical actuaries.

Graduate Learning Outcomes (PLO)

Code	Graduate Learning Outcomes (GLOs)
GLO-1	Demonstrate ethical conduct grounded in faith in God, uphold human values in carrying out professional responsibilities, internalize academic values and ethics, comply with the law, and demonstrate responsibility toward society and the nation in accordance with the values of Pancasila.
GLO-2	Demonstrate independence, perseverance, integrity, and entrepreneurial awareness while maximizing individual potential.
GLO-3	Apply holistic, logical, critical, and systematic thinking in solving problems.
GLO-4	Adapt, collaborate, be creative, contribute, communicate effectively, and innovate while applying knowledge in society, and actively participate in global development.
GLO-5	Utilize information technology in the context of academic development and professional actuarial practice.
GLO-6	Apply fundamental concepts of actuarial science, finance, mathematics, statistics, and computer programming.
GLO-7	Apply actuarial methodologies (methods and models) to solve problems in various fields.
GLO-8	Identify and analyze risks at a level equivalent to the Associate of the Society of Actuaries of Indonesia (ASAI).
GLO-9	Apply actuarial expertise and leverage advances in science and technology to develop practical solutions related to finance, actuarial science, and risk management, particularly in Sharia Insurance, Catastrophe Insurance, and Marine Insurance, while adapting effectively to evolving professional challenges.

Curriculum

The Undergraduate Program in Actuarial Science at Institut Teknologi Sepuluh Nopember (ITS) offers a distinctive curriculum designed to equip students with specialized competencies that address Indonesia’s strategic needs. The Program features three areas of specialization:

Catastrophe Actuarial Science
Focuses on actuarial applications in catastrophe risk and insurance, addressing Indonesia’s vulnerability to natural disasters.

Maritime Actuarial Science
Focuses on actuarial applications in marine insurance, supporting the development of Indonesia’s maritime sector and ocean-based economy.

Sharia Actuarial Science
Focuses on Sharia-compliant insurance (takaful) and responds to the growing development of Islamic financial services in Indonesia.

In addition to these specialized areas, students are equipped with the fundamental principles of life actuarial science, providing a strong foundation for professional actuarial practice.

Unduh RPS

Course

SMT	No	Course Code	Course	Course Credits	Prerequisites Course
I	1	SM234101	Calculus I	3
	2	SA234101	Computer Programming	3
	3	SA234102	Statistical Methods	3
	4	SA234103	Economics	3
	5	SA234104	Introduction to Actuarial Science	3
	6	SA234105	Elementary Linear Algebra	3
	Total Credits			18
II	1	SM234201	Calculus II	3
	2	SA234201	Actuarial Computation	3
	3	SA234202	Probability Theory	3
	4	SA234203	Actuarial Accounting	3
	5	SA234204	Investment and Portfolio Management	3
	6	SA234205	Differential Equations	3
	Total Credits			18
III	1	SA234301	Linear Model	4
	2	SA234302	Mathematical Statistics I	3
	3	SA234303	Corporate Finance	3
	4	SA234304	Nonparametric Method	3
	5	SA234305	Introduction to Marine Insurance	3
	6	SA234306	Financial Mathematics	3
	7	SA234307	Actuarial	3
	Total Credits			22
IV	1	SA234401	Financial Forecasting Method	3
	2	SA234402	Insurance Risk Theory	3
	3	SA234403	Actuarial Stochastic Process	3
	4	SA234404	Financial Data Analysis	3
	5	SA234405	Introduction to Islamic Insurance and Finance	3
	6	SA234406	Advanced Financial Mathematics	3
	7	SA234407	Advanced Actuarial	3
	Total Credits			21
V	1	SA234501	Actuarial Data Mining	3
	2	SA234502	Advanced Insurance Risk Theory	3
	3	SA234503	Introduction to Catastrophe Insurance	3
	4	SA234504	Actuarial Management	3
	5	SA234505	Survival Analysis	3
	6	SA234506	Actuarial Simulation	3
	7	SA234507	Actuarial Consultancy	3
	Total Credits			21
VI	1	UG234915	Technopreneurship	2
	2	UG234911	Pancasila	2
	3	UG234912	Indonesian	2
	4	UG234914	English	2
	5		Elective I	3
	6		Elective II	3
	7		Elective III	3
	8		Enrichment Course	3
	Total Credits			20
VII	1	SA234701	Research Methods	3
	2	SA234702	Internship	2	Complete 100 credits.
	3	UG234916	Technology Applications & Digital Transformation	3
	4	UG23490*	Religion	2
	5		Civics	2
	6		Elective IV	3
	7		Elective V	3
	Total Credits			18
VIII	1	SA234801	Final Project	6	Complete 138 credits, GPA 2.
VIII	Total Credits			6
TOTAL CREDITS				144

Syllabus

SILABUS DEPARTEMEN AKTUARIA.docx

Career Prospects

Career Prospects for Graduates of the Undergraduate Program in Actuarial Science are as follows:

No	Graduate Profile (GP)	Career Description
1	GP-1: Educator	Graduates may pursue careers as educators in actuarial science or related disciplines, including as lecturers, instructors, tutors, or academic trainers.
2	GP-2: Researcher	Graduates may work as researchers in actuarial science and related disciplines within government institutions, research organizations, or private industry, including roles such as data scientists, business analysts, financial analysts, and research and development specialists.
3	GP-3: Corporate Actuary	Graduates may pursue careers as actuaries in insurance companies or other industries that require expertise in risk analysis and management.
4	GP-4: Consultant	Graduates may work as consultants in actuarial science or related disciplines, including financial planning, employee benefits consulting, actuarial valuation, and other quantitative advisory services.
5	GP-5: Community Leader	Graduates are prepared to assume leadership roles across various sectors, including government institutions, private organizations, and community-based organizations.
6	GP-6: Entrepreneur	Graduates may establish entrepreneurial ventures in actuarial science or other fields aligned with their expertise.