Insurance, Pension

Unilag Insurance & Actuarial Science Department enriches curriculum with insights from NIA, PenCom

Head of Department Actuarial Science & Insurance of the university Prof. Dallah Hamodu; President of 1994 Graduates, Samson Akinyemi; beneficiary of bursary Bello Olayinka; Vice Chancellor University of Lagos, Prof. Folasade Ogunsola and Dean Faculty of Management Sciences of the university Prof. Abdul Sulaimon at the event.

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Chuks Udo Okonta

Determined to produce students that are fit and proper for insurance, pension and actuarial science practices, the University of Lagos Insurance and Actuarial Science Department has tailored its curriculum with current developments in the sectors.

The Head of Department Actuarial Science & Insurance of the university Prof. Dallah Hamodu, disclosed this at the 30th Year Anniversary of 1994 graduates of Actuarial Science & Insurance, University of Lagos, held recently at the University in Lagos.

He submitted that the department’s curriculum was reviewed recently and that they made sure that all insurance affiliated organisations, pension and actuarial science were contacted in developing the revised curriculum to cater for the industries demand.

He noted that if the students are not well equipped, the pension, insurance and actuarial sectors would invest more to align them with their operations.

Hamudu submitted that based on his assessment of the students, he is quite confident of their capacities, adding that the department is producing the type of students the industries need, whist calling on the alumni to collaborate more with the department.

According to him such collaboration would help the department identify where there are problems, resolve them and also make commendations where necessary.

He appreciated the alumni for the donations made to the department, stressing that the department has grown over the years as it now parades seven professors and about 200 students.

He said the department in the last convocation, produced 20 first class students from actuarial science and 10 students from insurance.

The President of the 1994 graduates, Samson Akinyemi, at the event noted that there is knowledge gap in the industries, adding that the industries look up to universities to produce workforce for their operations.

He said the alumni would collaborate more with the department to generate the required field of development that are needed for the industries, stressing that the department can’t produce what the industries do not need.

He noted that while they were in school, there were many courses they were asked to study that have no relevance to the industries they presently work, adding that using such archaic materials to turn out students would not be the best.

‘We would draw knowledge from outside to join force with them to make sure that the knowledge gap is blocked.

“Whatever products they are turning out for the industries, either the graduate level, masters level or the executive level must be relevant for the industries,” he said.

He said the collaboration between the university and the alumni would focus on research that would enable the industries draw products; knowledge impacts from projects executed by graduating students.

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