Insurance Training College partners with Makerere University Business School Mbale Campus to nurture students in Insurance.Benon Sengendo
Insurance Training College partners with Makerere University Business School Mbale Campus to nurture students in Insurance – 3 scholarships awarded
Kampala – Uganda, On 12th August 2022, the Insurance Training College (ITC) launched the Makerere University Business School – Mbale campus insurance club under the Business Management department at the Mbale campus.
Insurance clubs are an initiative of ITC aimed at exposing younger people to the vast opportunities insurance presents as a career path and lucrative business. The insurance industry in Uganda is a fast-growing sector with the capacity to absorb a significant number of young professionals who are critical to the financial services sector.
As the training and membership arm of the insurance industry that is mandated to train professionals for the sector, the Insurance Training College uses insurance clubs at various learning institutions to nurture the younger folks. Currently, the College has established Insurance clubs at Bugema University, Bishop Stuart University (BSU), Mbarara University of Science and Technology (MUST), and recently at MUBS, Mbale campus.
“At this level, we should all understand risk and how to deal with it because it is part of our lives”, said Kutosi Ayub the MUBS Mbale campus Director as he addressed the students.
Saul Sseremba, the CEO-ITC emphasized that Insurance is for everyone, lawyers, doctors, engineers, marketers, people in leisure and hospitality, exporters and importers, and IT among others. This is because every field has an aspect of risk that can be covered through insurance.
He also talked about some of the reputational challenges that rocked the insurance industry in the past decades leading to mistrust instigated by low professionalism among the industry workforce. Low professionalism affects the intake and appreciation of insurance.
However, ITC together with the Insurance Regulatory Authority (IRA) and other key industry stakeholders, are bridging the professionalism gap through training, policy formulation and implementation that has resulted in significant growth. According to IRA, over Ugx. 445 billion was paid in claims in 2021 alone.
“As a college, we’re committed to supporting students in various career growth areas including insurance and I implore you to embrace Insurance as a career option as we strive towards our goal of helping students leave university when they are more employable with training and certified qualifications from ITC,” said Mr. Sseremba. He later awarded scholarships to 3 students for the Certificate of Proficiency (COP) programme at ITC.
The management of the college is grateful to MUBS Mbale campus for the warm welcome and the positive response toward the promotion of insurance.