MSc. Insurance Risk Management

Welcome Message from the Coordinator

Welcome to the Master of Science in Risk Management and Insurance programme at the School of Graduate Studies, University of Professional Studies, Accra (UPSA). We are excited to have you join this dynamic and engaging academic journey, where we are confident you will have a rewarding and enriching learning experience.

The MSc Risk Management and Insurance is a comprehensive and rigorous one-year programme designed to equip graduates with in-depth knowledge and practical skills in insurance and risk management. Through a blend of theoretical foundations and real-world applications, the programme aims to develop graduates who are not only well-versed in the latest industry practices but also capable of addressing complex challenges in the field of risk management.

Students will engage with advanced topics in insurance, risk analysis, and mitigation strategies, preparing them to apply insurance risk management techniques to real-world problems. Whether you are aspiring to advance your career in insurance or broaden your expertise in risk management, this programme will provide the tools, insights, and professional acumen needed to excel in today’s competitive business environment.

We look forward to supporting you throughout this academic pursuit and helping you achieve your professional and personal goals.

Philosophy of the Programme

The Philosophy of the MSc. in Risk Management and Insurance programme is to train graduates to be knowledgeable and competent in applying insurance risk management techniques to solve real-world problems. The curriculum places emphasis on the ability of graduates to analyse, predict, and adopt appropriate strategies to mitigate the impact of risk on individuals, businesses, and the economy as a whole. The content of the MSc in Risk Management and Insurance programme has been reviewed and accepted by bodies such as the Insurance Institute of Ghana and the Ghana Insurance College.

Programme Objectives

The main aim of the MSc Risk Management and Insurance programme is to equip students with the knowledge and skills to apply insurance risk management techniques to solve real-world problems. The specific objectives of the MSc in Insurance Risk Management are to:

• Enhance students’ knowledge of the theory and practice of insurance risk management.

• Equip students with contemporary insurance risk management and Alternative Risk Transfer strategies to mitigate the adverse operational ramifications of all sectors.

• Provide students with an understanding of the regulatory framework, insurance contracts and provisions as well as standards in the Insurance industry.

• Develop students’ technical capacity, and objective reasoning to prepare them for various roles in the insurance sector.

• Develop students’ skills and competencies to undertake independent research to address risk and related problems in the insurance sector.

• Equip students with the skills to use computer application software such as Java Virtual Machine and R in insurance risk management.

Programme Learning Outcomes

At the end of the MSc. in Risk Management and Insurance programme, students will:

• Apply theoretical knowledge of Insurance risk management to real life situations.

• Use contemporary insurance risk management strategies such as Alternative Risk Transfer (ART) to mitigate adverse operational ramifications of all sectors.

• Apply insurance regulatory framework, insurance contracts and provisions, as well as standards in the insurance industry.

• Develop the technical capacity and objective reasoning to prepare them for various roles in the insurance risk management sector.

• Acquire skills and competences to undertake independent research to address risk and related problems in the insurance sector.

• Use computer application software such as Java Virtual Machine and the R software to solve insurance and related problems.

Programme Structure

Programme Coordinator’s Profile

Ing. Dr. Nii Ayitey Akoto, R. is a Petroleum Reservoir Engineer, Economist, and Lecturer in the Department of Economics and Actuarial Science at the University of Professional Studies, Accra (UPSA). With over a decade of industry experience and more than five years in academia, he combines expertise in teaching, research, and administration.

Ing. Dr. Akoto’s professional journey began at Schlumberger, where he worked as a Reservoir Engineer, followed by his role as Principal Technologist and Head of the Oil and Gas Unit at the Institute of Industrial Research, CSIR. He holds a PhD in Petroleum Engineering from BIU and the AGH University of Science and Technology Consortium and is a UNESCO/AGH UST Chair Fellow in Engineering.

At UPSA, he teaches courses in petroleum valuation modeling, mathematics, and statistics, while his research focusses on petroleum valuation, nano-enhanced oil recovery, and mechanical systems dynamics. His scholarly contributions include publications in peer-reviewed journals and presentations at prestigious international conferences.

In addition to his academic responsibilities, Ing. Dr. Akoto coordinates three graduate programmes at the UPSA School of Graduate Studies. They include MBA Petroleum Accounting and Finance, MSc Risk Management and Insurance, and MSc Pensions Management.

He is a professional member of both the Ghana Institution of Engineering (GhIE) and the Society of Petroleum Engineers (SPE), underscoring his commitment to advancing the fields of engineering and petroleum economics.

Contact the Coordinator via:

email:   [email protected]

Phone Number: +233 209978020