The charge +q inside the hollow conductor induces an equal and opposite charge, that is, -q on the interior surface.
Electric field lines inside the hollow conductor are produced that are radially directed outwards.
Equal charge +q is induced on the outer surface of the conductor, which generates radial electric field lines directed outwards.

As the electric field outside the hollow conductor is not zero, it fails to shield its OUTSIDE from the electric field produced by the point charge on the inside.