The Insurance Institute of Malawi (IIM) has bought 20 books authored by insurance practitioner, Chimwemwe Kanyenda, to be distributed to colleges and secondary schools.
The book, Random Thoughts on Insurance Practice: A Practitioner’s Exposé, is dedicated to a series of topics revolving around insurance and risk management.
On Tuesday last week, the IIM, the training arm of the insurance industry donated seven books to the faculty of commerce at the Polytechnic, a constituent college of the University of Malawi. Dean of faculty of commerce Steven Chimtengo said the book will restock their library and help to build capacity of students at the college.
“The book will help to raise awareness on insurance issues in the country,” he said as he commended the author for the effort and the institute for what he rated timely input to advancing knowledge base in the area to the University.
IIM president Immaculate Kachapila said they want to popularize a book that has been written by one of their own.
“We understand that insurance penetration in Malawi, at about three percent, is low and the book will obviously help to ensure that insurance issues are understood by all Malawians,” she said.
The other books will be donated to Catholic University, Our Lady of Wisdom and Chichiri Secondary Schools.
Kanyenda, who is Assistant Claims Manager at NICO General Insurance Company and a columnist (Insurance Insight) with the Daily Times, said the books will go a long way in improving the students’ personal financial decision-making in addition to teaching students insurance basics; hence filling the knowledge gap in financial literacy in the country.