Ghana reports shortage of actuaries in insurance sector
Ghana is facing a shortage of actuaries in its insurance sector, prompting the Ghana Insurance University College to encourage students to pursue careers in mathematics and data analytics. The institution aims to build local expertise to reduce reliance on foreign specialists.
Why it matters
Developing local technical expertise is crucial for the stability and growth of the insurance and financial sectors in emerging economies.
--> In Ghana, the insurance sector has significant potential for youth employment, but it is experiencing a shortage of actuaries and other technical specialists. This was stated by Dr. Richard Okyere, rector of the Ghana Insurance University College (GIU), MyJoyOnline reports .
Okyere urged WASSCE graduates and other young people interested in mathematics, data and analytics to consider careers in insurance. According to him, the low level of insurance penetration in the country creates opportunities for the industry's development and increases the need for qualified workers.
GIU offers bachelor's degree programmes in actuarial science with insurance and statistics with insurance. The rector explained that these fields are intended to train specialists who combine computational skills with knowledge of insurance underwriting.
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