Ghana Insurance University College Governing Council inaugurated
The Ghana Insurance University College (GIUC) has inaugurated a nine-member governing council with a call for stronger leadership, industry collaboration, and academic innovation to help improve insurance education. The Rector of GIUC, Richard Okyere, who made the call in Accra at the weekend during the 19th graduation ceremony of GIUC in Accra on Friday, said … The post Ghana Insurance University College Governing Council inaugurated appeared first on Ghanaian Times.
Black News 
The Ghana Insurance University College (GIUC) has inaugurated a nine-member governing council with a call for stronger leadership, industry collaboration, and academic innovation to help improve insurance education.
The Rector of GIUC, Richard Okyere, who made the call in Accra at the weekend during the 19th graduation ceremony of GIUC in Accra on Friday, said strong collaboration would also help improve the country’s low insurance penetration.
The council chaired by Dr Abiba Zakariah has other members as Dr Richard Okyere, Dr Mahama Wayo, Dr Kingsley K. Kwabahson, Mr Ernest Frimpong, Dr Isaac Baidoo, Mr Shaibu Ali, Mr Solomon Amah-Kai Lartey, and Mrs Naa Shormeh Gyang.
Speaking at the programme, Mr Okyere explained that the inauguration of the governing council marked a significant milestone in the institution’s transition from the Ghana Insurance College to a University College.
The inauguration saw 234 students graduate. Out of the number of students who graduated, 107 completed their studies in the Professional Advanced Diploma in Risk and Insurance, 118 completed the Professional Diploma in Risk and Insurance, and nine completed the certificate in Risk.
He said the upgrade, approved by the Ghana Tertiary Education Commission (GTEC), was granted after the institution met all required standards.
Mr Okyere announced that as part of the new direction of the institution, the GIUC would introduce new undergraduate degree programmes beginning in September this year.
He said the programmes, to be run in affiliation with the University of Ghana, would include a Bachelor of Science (BSc) in Actuarial Science with Insurance and a BSc in Statistics with Insurance.
The Rector noted that since 2007, the institution had enrolled and graduated more than 3,000 diploma and advanced diploma students, in addition to certificate programme beneficiaries.
The Chairperson of the newly inaugurated governing council, Dr Abiba Zakariah, said the council would provide strategic direction to strengthen governance, deepen partnerships with industry, and support the school’s vision to become a centre of excellence in insurance education and research.
She called on insurance firms and stakeholders to support the GIUC by sponsoring academic programmes, offering internship opportunities, and participating in training to bridge the gap between theory and practice.
Delivering the keynote address, the Chairman of the Board of Directors of Mainstream Reinsurance Company, Mr Kwame Addo, expressed concern about Ghana’s low insurance penetration, stating that insurance coverage in the country accounted for only about one per cent of the nation’s Gross Domestic Product (GDP).
He said the figure was far below the global insurance penetration rate of between seven and nine per cent, adding that the gap represented a major opportunity for expansion.
“99 per cent of our economic life is uninsured, underinsured, or insured by hope,” Mr Addo said.
He urged graduates to uphold ethics and professionalism, stressing that public trust remained the foundation of the insurance industry.
BY KINGSLEY ASARE& PRINCE ADDO FRIMPONG
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The post Ghana Insurance University College Governing Council inaugurated appeared first on Ghanaian Times.
