The Insurance Training College (ITC) has officially launched its Private-Public Partnerships (PPPs) in Inclusive Insurance Training program, starting with a Training of Trainers session. This session is designed to equip trainers with the knowledge and skills needed to teach others how to create frameworks that align the goals of both the public and private sectors.
PPPs describe a range of possible relationships among public and private entities and plays a vital role toward including people into the financial system, especially those in underserved communities. They make insurance more accessible, cost-effective, and sustainable for everyone.
Ddumba Ibrahim, the Training Manager at ITC, highlighted the importance of understanding how PPPs work. He explained that trainers who grasp the dynamics of these partnerships will be able to guide others in designing insurance models that benefit both the public and private sectors.
“With the support of partners like the International Labour Organization (ILO) and Social Finance, we are building a skilled workforce capable of addressing the challenges of financial inclusion. The expertise of our partners, especially in global insurance practices, is key to advancing the growth of insurance in Uganda. This training will help professionals create long-term insurance solutions that positively impact communities,” Ibrahim said.
The two-day training session, which kicked off today, lays the foundation for upcoming sessions scheduled for November 21st and 22nd, 2024. These sessions will focus on equipping students and insurance professionals with practical strategies to align business objectives with public policy, raise awareness about inclusive insurance partnerships, and support the continuous growth of the insurance sector.
Pranav Prashad, the lead trainer from ILO, highlighted the essential role of PPPs in aligning incentives, improving efficiencies, and managing risks. He stated, “This training module is designed to equip participants with the skills needed to not only become experts in PPPs but also to apply these concepts in their daily work to build successful public-private partnerships in inclusive insurance.”
Throughout the training, we use a variety of adult learning methods, including lectures, group discussions, and practical exercises. This approach ensures that participants gain the hands-on skills required to drive sector-wide improvements and contribute to national development.
By the end of this training, participants will be able to:
1. Understand what PPPs are and why they are important for inclusive insurance.
2. Identify when PPPs are the right tool for expanding insurance access and the benefits and challenges involved.
3. Examine successful real-world examples of global PPPs in the insurance sector.
4. Discuss practical recommendations for implementing PPPs in the insurance industry.
This training marks an important step in creating a foundation for long-term changes in the sector, ensuring that more people, can benefit from financial protection through insurance.