Penentuan Nilai Premi Asuransi Pertanian Berbasis Indeks Curah Hujan Dengan Metode Simulasi Stochastic Weather Generator Menggunakan Distribusi Weibull

Giandito Iskandar; Dila Tirta Julianty; Fuji Lestari; Elifas Hani Christien; Nia Ahmadia Sumardi; Welson Tawan; Natalie Evangelista; Debra Carol Lin G.N.

doi:10.35472/indojam.v6i1.2716

Giandito Iskandar Institut Teknologi Sumatera
Dila Tirta Julianty Institut Teknologi Sumatera
Fuji Lestari Institut Teknologi Sumatera
Elifas Hani Christien Institut Teknologi Sumatera
Nia Ahmadia Sumardi Institut Teknologi Sumatera
Welson Tawan Institut Teknologi Sumatera
Natalie Evangelista Institut Teknologi Sumatera
Debra Carol Lin G.N. Institut Teknologi Sumatera

DOI: https://doi.org/10.35472/indojam.v6i1.2716

Keywords: Agriculture insurance, Indemnity, Stochastic Weather Generator, Value at Risk, Weibull distribution

Abstract

The agricultural sector is vulnerable to various risks, which can lead to losses, such as rice farming that is susceptible to unstable rainfall. Therefore, agricultural insurance is needed to protect farmers from losses due to reduced harvests caused by various risks. The maximum value covered by the insurance company, called the indemnity value, reflects the total losses experienced by the farmers based on the average rice production yield. The average rice production yield is calculated using the estimated selling price obtained from the value- at-risk method amounting to IDR7,401,647.28/ton. This study aims to determine the premium that farmers must pay using a rainfall index value simulated using the Weibull Distribution with the Stochastic Weather Generator method. The result of this study is that the premium ranges from IDR143,567.5 – IDR11,511,142 or around 0.349% to 27.939% of the indemnity value amounting to IDR41,375,333.65.

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