Ghana Insurance College is one of the colleges in Ghana that helps students get the best insurance education. Education is one of the most important aspects of every professional. To become the best insurance worker in Ghana, consider getting the necessary academic qualifications. Ghana Insurance College offers just what you need to make you excel in a highly competitive industry in Ghana and beyond. The institution is among the most significant insurance colleges that were formed to model high skilled insurance officers and agents in the country. This means, therefore, that you must understand how to get into the college in the first place. This article outlines the courses offered at the college as well as the necessary contacts you may need to reach out to the school.
The daily activities of traders, employees, investors, and entrepreneurs make them face a lot of challenges and risks. Most of these risks are not predictable and cause a lot of stress to the people concerned. In Ghana, houses are exposed to fires on a daily basis, vehicles are prone to accidents anytime they are on the road, businesses are likely to collapse, and people lose their lives on a regular basis. All these examples show the different types of risks that need insurance. These among other unfortunate occurrences need to be compensated in case the risk occurs. These activities require highly skilled professionals who can calculate correct figures of total loss, actual cash values and other terms of insurance.
History of Ghana Insurance College
Ghana Insurance College is a government board established by the association of four bodies as follows; Ghana Insurers Association, National Insurance Commission, Insurance Institute of Ghana and Ghana Insurance Brokers Association. The primary vision of the college was to provide a centre of excellence in the insurance industry of West Africa. The college aims at training, educating and developing professionals in the insurance industry. The institution was accredited to offer diploma and advanced diploma in September 2013. Ghana Insurance College location is strategic for all local and international students. It is located in Accra, Ghana making it accessible to all.
Ghana Insurance College courses
The institute offers advanced diploma, diploma and certificate courses. All the different levels prepare students to excel in the insurance industry. The courses offered are as follows:
Ghana Insurance College offers comprehensive associate programs, which produce highly skilled insurance officers in the country. The courses offered in this category are as follows:
- Associate in risk management
- Associate management
- Associate in insurance finance and accounting
- Associate in claims
Diploma in insurance from the Ghana Insurance College is offered in five modules as follows:
- Introduction to insurance legal aspect. This is offered under module 1.
- Personal insurance- insurance for a private individual. Offered under module 2.
- Commercial property insurance. Offered under module 3.
- Liability insurance for commercial enterprises. Offered under module 4.
- Motor insurances responsible for the private and commercial. Offered under module 5.
Ghana Insurance College in association with Malta International Training Center makes it possible for diploma program to run. Graduating students work from various insurance companies in Ghana and beyond.
Ghana Insurance College offers certificate courses to help people joining the insurance market. Certificate courses offered by the college include the following:
- Introduction to insurance
- Principles of insurance
- Insurance market, insurance contract, and agency law
- Policy wording, renewal and underwriting procedures
- Motor insurance
- Marine insurance- consists of cargos, hull and pleasure crafts
- Property insurance, travel insurance, and home insurance
- Property insurance-under commercial lines
- Pecuniary insurance
- Insurance of the person (cont.)
- Reinsurance and co-insurance
- Claim handling techniques
- Regulatory framework
- Liability insurance
- Insurance coverage of the person
Ghana Insurance College also offers short course programs, which take several days or may take a maximum of 1 week. Successful accomplishment of these courses leads to the award of a certificate. Some highlights of the short courses include the following:
- Effective management of customer relationship to build a competitive advantage. This course targets marketing and sales executives and client service executives.
- Excel for financial reporting. This course targets internal auditors, chief operational officers, and business managers.
- The 2nd and 3rd parts tie pension benefit and its impact on annuity market in Ghana. This course is intended to target pension practitioners, actuarial staff and fund managers.
- Insurance for beginners and non-insurers. This course targets agent, banks, and brokers.
- Designing life insurance products. This course targets the following; insurance staff, sales executives, and claim managers.
- Marketing intelligence and strategies. This course targets brokers, marketing, and sales executives.
- Motor insurance. Targets brokers, under weighting and claims managers.
- Enterprise risk management in life insurance operation. This targets technical staff, risk management officers, and internal auditors.
- Assets liability management. This short course targets the following people; fund managers, actuarial staff, financial staff, and technical staff.
There are no examinations imposed on any of these short courses. They are meant to familiarize the candidates or employees with current trends, developments, new policies, and other emerging issues. The dates on which each of these courses are taught at the Ghana Insurance College are available at the official college website.
Ghana Insurance College offers an excellent E-learning program, which is meant to assist students who cannot access the college or those who are only available at a particular time. E-learning is offered through video lectures, module classes, PDF scripts, tests, case studies, and assignments. The course offered under this program is known as Certified Expert in Microinsurance course. The college provides both in-class and e-learning platforms and experiences to the students. Benefits accrued for being an accredited expert in microinsurance include;
- Joining the rapidly growing market as a competitive microinsurance expert
- The course helps in improving personal performance at an insurance the job
- Gaining knowledge in a new area.
The course covers the following areas:
- Introduction to insurance and microinsurance
- Micro-insurance client
- Microinsurance product
- Financial literacy, marketing, and communication
- Sales and distribution
- Management of client relations and ways of ensuring client access.
E-learning Diploma program
Diploma in insurance covers the following contents:
- Introduction to insurance legal aspects
- Personal insurances- insurance for private individuals
- Commercial property insurance
- Liability insurance for commercial enterprises
- Motor insurances
Fees charged at Ghana Insurance College
Ghana Insurance College fees are affordable. It offers a stable fee structure, which encourages many students to pursue their courses. All eligible candidates will be required to pay the following charges.
- The nonrefundable fee for buying an application form in the form of e-voucher is GHC 200.00
- Application fees of GHC 120.00 (under a credit exemption from CII)
- Tuition fees of EUR 1200. International students will be required to pay the entire amount as provided in the fee structure. However, local students are given 50% scholarship by the Ghana Insurance College. International students can also get a scholarship from their respective countries. This mainly applies to e-learning students.
- Registration fees of GHC 150.00. These charges mainly apply to e-learning students in the Ghana Insurance College.
Tuition fees change time after time due to internal issue and government policy. Therefore, it is essential to keep in touch with the finance department of Ghana Insurance College to get any new update.
Ghana Insurance College admission
The college has various qualifications criteria that must be met for a candidate to be admitted. Below are some of the entry requirements.
The diploma course requirements include:
- Candidates should have a pass in O level examination
- A pass in the General Business Certificate Examination
- A pass in the Advanced Public Business Certificate Examination
- S.H.S certificate
- Any other qualification, which is relevant to the Ghana Insurance College, may be accepted.
Note that the applicant does not require all the examination certificates mentioned above. Each individual certificate can help to finish the registration.
Requirements for certificate
The requirements for a certificate include:
- Must be 18 years and above
- At least four passes in SHS examination
- Should have passed the general business certificate examination
- Other qualifications relevant to the board of the Ghana Insurance College may be appropriate.
How to apply to Ghana Insurance College
The college admits both Ghanaian and international students. Applicants who have certified all the fundamental qualifications to join the college must follow the procedure below to be admitted into the college. This is how you apply:
- All applicants are required to buy an e-voucher to access the Ghana Insurance College (GIC) form from any branch of Eco bank in Ghana. E-vouchers can also be purchased via MTN mobile money wallet or VISA. Information on how much should be paid to get an e-voucher shall be accessed at the bank.
- Applicants are advised to be very careful when completing the forms.
- To complete the form, enter the PIN together with the serial number of the e-voucher.
- Upload a scanned passport size photo
- Fill in your details in the online application form.
- Applicants should first save their work before submitting.
- Successful candidates will be notified via text message on the chance allocation. Those who do not get text messages should be aware that their applications were rejected.
Ghana Insurance College contact will come in handy when you need to make the next move in your career, especially if you are interested in insurance. Below is a clear guide on the contact information that will help reach out to the management of Ghana Insurance College.
Physical location: The College is located at I.I.T.C building, national insurance commission independence ave.
Address: Ghana Insurance College address is located in Accra Ghana
Telephone: (0302) 240642, (0303) 964722
You can make a call, email or visit the Ghana Insurance College for more information.
Ghana Insurance College is one of the best institutions that offer professional skills in insurance in Ghana. It has the best technical team ready to assist the students anytime they need help.