Saul Sseremba is a prominent figure in the Insurance industry of Uganda, serving as the Principal and CEO of The Insurance Training College of Uganda (formerly the Insurance Institute of Uganda). With a strong background in insurance education and a passion for developing professionals in the field, Saul has played a key role in shaping the future of the Insurance sector in Uganda through training, coaching, mentorship and knowledge dissemination.
He holds an MSc in Finance and Accounting from Makerere University, a Postgraduate Diploma (PgD) in Microfinance management, a bachelor’s degree in Business Administration from Makerere University, and several professional Insurance qualifications. Sseremba, a certified coach is also a graduate of the Executive Strategic Leadership Masterclass of Jacobs-Abbey Global Institute for Leadership Studies, the Center for Corporate Governance Nairobi.
Born with a passion for teaching and a goal to be a teacher, Sseremba has traversed many roles and still made it out a teacher in a professional capacity.
“I am a teacher, well by practice, having done a lot of teaching in the early years of my career. I taught at various universities, the main one being Makerere University Business School where I taught for close to 15 years teaching insurance until I joined the Insurance Institute as Head of Training and ultimately the team leader,” says Sseremba.
“I had been offered a Diploma in teaching at Nkozi University, but then along the way I was also given a business course at Makerere university and that is how I ended up doing a Bachelors degree in Business Administration. I thought I had abandoned my passion, but immediately after university, I was retained as a junior Lecturer and that was the beginning of my teaching career. As a lecturer, I enjoyed teaching, mentoring and counseling students, assisting them with their research projects among other roles,” Sseremba states.
He reiterates that one of those interesting things about teaching is keeping abreast with new trends in the market – adding that as a teacher, one must be ahead of students which requires one to do a lot of reading which in-turn keeps you on top of your game; But also seeing your students progress in their careers and thriving in different environments is hugely rewarding.
Sseremba has dedicated his career to Insurance, education and training, with a focus on ensuring that professionals in the industry are equipped with the necessary skills and knowledge to excel in their roles. He holds a wealth of experience in the insurance sector, having worked in various capacities within the industry prior to taking on his role as CEO of The Insurance Training College of Uganda.
Having been formed as a Private entity in 1964, the Insurance Institute of Uganda, now the Insurance Training College was mandated to carry out education, training and Professional development in the sector. It was not until 2011 that it was put in the law that a certain levy be sent to the Insurance Institute of Uganda to support its operations.
“At the time, we were a private entity utilizing public funds. So, we had to start a process of getting public, and when I became a CEO, the first assignment was to ensure that we drive that home. We went through that process, and that is how we metamorphosed from the Insurance Institute of Uganda to the Insurance Training College,” Sseremba said.
“Now, the Insurance Training College is an institution of public character and we are supervised by the Government through the Ministry of Finance Planning and Economic Development and the Ministry of Education and Sports,” he added.
“When you talk of the Insurance Training College, we have two major arms. One, we train and professionalize the industry. So that means everyone who is operating in this industry should get some sort of training or development from the college to ensure that our members are kept up to date with the new trends and practices in the market. So in training, we do both long-term and short-term training. But we also have a duty to manage the conduct of members, to make sure that members adhere to a certain code of conduct,” Sseremba reiterated.
Under his leadership, the Insurance Training College of Uganda has evolved into a leading institution for insurance education in the country and the region. Sseremba has spearheaded initiatives to enhance the curriculum, introduced new programs, and forged strategic partnerships with industry stakeholders and beyond to ensure that students and professionals receive a comprehensive and relevant understanding of the Industry.
“We have been able to attract students from other countries, we have been accredited to offer training for other sectors like the Pensions sector and we have also extended insurance training to secondary schools and to universities,” he said.
In order to augment insurance appreciation, the Insurance Training College has undertaken a number of awareness initiatives and this has better positioned the Institution with the people it serves. “There are so many ads that we are running as a college together with several public trainings and engagements. We are doing this to make sure that people in the different regions and at different levels get to appreciate insurance,” Sseremba said.
Sseremba further reiterated that although the insurance sector is still young, it is steadily growing. Uganda’s Insurance Sector recorded a substantial growth of 11.29% for the year ended 2023 posting sh1.6 trillion in gross written premiums compared to sh1.4 trillion in 2022. According to Sseremba, this growth trajectory is an indicator of a growing sector which he envisions to post about Sh2 trillion by the end of 2024.
“…because just six, seven years ago, the total premiums were around sh600 billion. Today, we’re in trillions. This year, we may hit sh2 trillion. That shows massive growth in the sector. When you look at the growth rates, you realize that life insurance is growing at a faster rate. That is an indication of a positive trajectory in insurance growth,” Sseremba stated.
Saul Sseremba is driven by a vision of a dynamic and thriving insurance industry in Uganda, supported by a well-trained and knowledgeable workforce. He envisions The Insurance Training College of Uganda playing a pivotal role in shaping the future of the industry by producing competent professionals who are ready to take on the challenges of a rapidly evolving market.
Saul’s leadership at The Insurance Training College of Uganda has been transformative, producing a new generation of insurance professionals who are well-equipped to meet the demands of the industry. As he continues to drive forward his vision of excellence in insurance education, Saul remains a respected and influential figure in Uganda’s insurance sector.
“Moving forward,there’s going to be a shift in the way we do business. With the technology trends now, I’m looking at products and processes that are going to change for the better,” he concluded.
Beyond being CEO of the Insurance Training College, and a teacher, Saul Sseremba is also on the board of a number of institutions. He is currently the Chairman of the Board of the Capital Markets Authority of Uganda. He is a family man whose first activity of the day is praying with his family before he can embark on the day’s work. His philosophy of life is that ‘there’s always a solution somewhere’, and he always leans on the positive rather than the negative. He is currently reading Stephen A. Schwarzman’s, “What it Takes” with lessons in the pursuit of excellence.
