On the backdrop of gradual recovery of the economy, there is an increased uptake of insurance policies that is fuelling optimism about future opportunities for the industry, Daniel Boi Addo, Managing Director of Hollard Insurance, has said.
Just like any other sector of the financial industry, the impact of the COVID-19 pandemic and the recent waves of economic turbulence in the country adversely affected the insurance sector. Many insurance customers demanded a reduction in premium amounts until the economy gained some sense of semblance. On the other hand, new uptake of policies was virtually a mirage.
However, the Hollard Insurance MD is upbeat about the future of the sector. “The Insurance sector has had its fair share of the economic challenges in the country. It was one of the bills one will easily cut to manage costs during the financial crisis. But it is good to say that as the economy picks up, we have seen an increased uptake of our policies, and we are excited about the opportunities the future will create for us.”
He was interacting with journalists in Sunyani on the sidelines of a mentorship clinic for students at University of Energy and Natural Resources (UENR). The training consisted of panel discussions and breakout sessions, aimed at preparing them to better appreciate the dynamics, opportunities, challenges, and ethics of the job market.
The mentorship training is subset of the implementation of a three-year partnership between Hollard Insurance and the Department of Mathematics and Statistics – UENR to support career development of the students.
Addressing the students, Mr. Addo advocated corporate Ghana collaborate with academia to fashion out appropriate mechanisms to train the required personnel with relevant skills to drive industries’ agenda for sustainable growth and development.
He said acceleration of technological advancement has caused revolution on the job market, resulting in evaporation of many job opportunities and therefore, students must be redirected to adapt to the paradigm shift to become relevant in the new employment space, saying: “What is certain in the future is that employers would depend on more cognitive skills and creative thinkers to solve problems. ICT skills are critical to enable graduates to access employment”.
The Dean of Sciences of University of Energy and Natural Resources, Professor Samuel Ofosu Gyasi, commended Hollard Insurance for the foresight to assist the university groom the needed human resource for national development. He advised the students to take advantage of opportunities offered under the Hollard and UENR marriage.
The three-year partnership, dubbed ‘Hollard X Academia’ has five modules, including a valedictorian prize for the outstanding student of the Department of Mathematics and Statistics and payment of tuition for third and final year students (one each) under the Hollard Scholar Programme.
