Insurance sector offers huge job opportunities as Ghana faces actuarial skills shortage — GIU Rector

Dr Richard Okyere, Rector of the Ghana Insurance University College (GIU), has highlighted the abundance of job opportunities in the insurance sector, particularly in specializations like actuarial science and statistics. The industry currently faces a shortage of skilled professionals, but also presents significant room for growth due to low insurance penetration in Ghana. This shortage creates a high demand for manpower across various sectors.

GIU, established earlier this year as a higher education institution, offers degree programs in Actuarial Science with Insurance and Statistics with Insurance, addressing the skilled professional gap in Ghana and Africa. These programs aim to produce graduates with both computational and underwriting skills crucial for managing financial risks and pricing insurance products.

The institution, owned by insurance industry players, maintains a direct link between professional practice and academic training, allowing it to produce graduates well-prepared for the insurance and financial services sectors. GIU also incorporates emerging fields such as artificial intelligence, financial modelling, and data analytics into its curriculum, ensuring students are equipped with skills relevant to evolving industry demands.

Graduates from GIU will receive a joint Bachelor of Science degree from the University of Ghana, along with a professional diploma in insurance from an overseas professional body. The university aims to develop a skilled workforce to expand insurance coverage and strengthen financial risk management in Ghana, encouraging WASSCE graduates with analytical interests to consider careers in the insurance sector and related fields.