The insurance fraternity in Uganda will soon get a fully-fledged independent college concentrating on insurance training to boost the growth of the financial sub sector. The Insurance Institute of Uganda (IIU), who are spearheading the move says that the proposal to have the college is in aanced planning stages.
They say the college plan is a long term goal which is expected to kick off in four or five years to offer degree, diploma and certificate courses in insurance leadership and management.
Currently insurance agents in the insurance industry only get Certificate of Proficiency (COP) in Insurance but the college will be offering more academically to agents, midlevel managers and senior management personnel.
Geoffrey Kihuguru, the Chairman of the Governing Council of IIU said most learning institutions including universities are not teaching insurance courses leaving a gap in the industry.
Insurance Regulatory Authority Managing Director, Hajji Kadunabi Lubega said the lack of qualified practitioners remains a challenge and a threat to the industry.
“We encourage insurance professionals, learning institutions and curriculum developers to take interest in insurance,” Kadunabi told International Insurers Conference in Kampala recently.
Speaking on the sidelines of the conference, Kihunguru said they are talking to local universities to start teaching insurance as a course not just as a course unit.
Source : East African Business Week