The Provost of the College of Science, Professor Phillip Antwi-Agyei, has welcomed a management delegation from the National Insurance Commission (NIC) and the Ghana Insurance University College (GIC) during a courtesy visit aimed at strengthening collaboration between the insurance industry and the university.

Welcoming the delegation, Prof. Antwi-Agyei described the engagement as timely, citing the long-standing relationship between KNUST and the insurance regulatory body.

He highlighted the strong performance of the Department of Statistics and Actuarial Science, despite its relatively recent establishment, and expressed optimism about deepening cooperation, particularly in promoting insurance education among students.

“We need to begin inculcating in our students, early on, an interest in insurance,” Prof. Antwi-Agyei said, adding that the College of Science and the wider university remain committed to supporting initiatives that align academic training with industry needs.

Dr. Richard Okyere, Rector of the Ghana Insurance University College, said the National Insurance Commission, which owns GIC, was at KNUST to provide updates on ongoing developments and to reaffirm its commitment to the partnership.

Dr. Okyere outlined plans to establish a student-focused mini-insurance company within the university, designed as a practical laboratory where students would design, sell and manage insurance products.

He explained that the entity would operate under clear regulatory provisions and would be tailored to the university environment, without conflicting with conventional policies.

He added that GIUC also intends to collaborate with the Department of Computer Science to introduce programmes that integrate insurance components into computer science training.

Mr. Farouk Dramani, Ashanti Regional Manager of the NIC, said the initiative stemmed from efforts to create an insurance research hub that bridges academia and industry while providing structured opportunities for student attachment and applied research.

Rather than relying on external placements, he said the team opted to establish a mini-insurance company within the Department of Actuarial Science to ensure students gain hands-on experience in insurance operations. He noted that formal approval had been sought and received from the university to engage the relevant faculties.

Dean of the Faculty of Physical and Computational Sciences, Professor Joseph Abeiku Ackora-Prah, welcomed the initiative, describing it as a practical approach to bridging theory and practice. He said the faculty was ready to support the project to ensure students fully benefit from the training opportunities.

Registrar of the College of Science, Mrs. Vanessa Appiah Castle, also praised the collaboration, describing it as mutually beneficial and commending the insurance bodies for engaging directly with the college to build sustainable partnerships.