WPCS 2.1.5
Tuition Fees:$516 /year
Applications Begin:June 2020
Final Award:Ordinary Diploma in Insurance and Risk Management
Start Date:October 2020
Academic Unit:Faculty of Insurance and Social Protection
Campus:Main Campus
Application Deadline: September 2020
Programme Overview

This qualification is intended for people who will be able to analyze, apply skills and knowledge in a wide range of activities in insurance market, provides services as middle level managers in an organisations.

At the end of the programme, the participants will be able to:
i. Apply the fundamental principles and practices relating to commercial general insurance.
ii. Design and develop simple Insurance Products
iii. Apply principles of management and entrepreneurial skills in Businesses


First Semester:
– Elements Of Economics
– Introduction To Communication Skills
– Introduction To Insurance
– Introduction To Risk Management
– Legal Aspects Of Insurance
– Basic Mathematics And Statistics

Second Semester:
– Introduction to Accounting I
– Insurance Intermediaries
– Insurance Claims Procedures
– Introduction To Theory And Practice Of Life Assurance
– Introduction To General Insurance Business
– Introduction To Computer Applications
– Field Practical Work

First Semester:
– Insurance Practice
– Household Insurance
– Motor Insurance Products
– Operational Risk Management
– Basic Communication Skills
– Mathematics and Statistics
– Field Work Report

Second Semester:
– Insurance Regulations
– Introduction to Health Insurance
– Introduction to Marine and Aviation Insurance
– Fundamentals of Entrepreneurship
– Fundamentals of Management
– Insurance Regulations

Admission Requirements

Direct Entry:
Holder of Form six certificates with at least a principal and a subsidiary pass (excluding religious subjects).

Equivalent qualification:
A Form Four certificate with at least four passes (religious subjects not counted) and with NTA level 4 i.e. Basic Certificate from a recognized higher learning institution. For ODCS and ODIT, one of the passes at O – level must be in Mathematics, Physics or Chemistry.

Application Process
Application Fees for Tanzanian Students: $4
Application Fees for International Students: $4

Applicants wishing to have themselves enrolled in the Institute of Finance Management Tanzania, should take note of the following:
1. All applications and recommendations must be submitted via an online application system.
2. Each applicant is responsible for ensuring his/her application is complete and correct.
3. No online application will be successful if a non-refundable fee has not been paid.

4. IFM will not consider any additional materials or changes once an application has been submitted. However an applicant can ask for amendment of online submitted materials after announcement has been made and new round of online application has been allowed.
5. The completed application becomes the confidential property of IFM and is not returnable
6. Applicants are responsible for ensuring that all the information and accompanying material provided in connection with their application is authentic and accurate
7. The Institute may at any time require applicants to provide satisfactory verification of the information and documents submitted as part of the application. If an applicant is unable to do so, the Institute reserves the right to cease consideration of the application, to withdraw any offer of admission already made, and/or to terminate one’s status as a student
8. Applicants assume all costs for authenticating and verifying documents and information associated with their application
9. All applicants previously admitted but did not register in the admitted year, are required to re-submit a new completed online application
10. Once an application is submitted, the Institute reserves the right to request additional information from the applicant, including, but not limited to, an interview

11. All applicants who have been invited for an interview must fulfil the request in order to complete the application process
12. Communication for admission will be done to applicants who meet the admission requirements.
Career Opportunities

Career Opportunities for Insurance and Risk Management include:
– Claims Investigator.
– Loss Prevention Field Representative.
– Risk Manager/Analyst.
– Sales Agent/Broker.
– Underwriter (Risk Selection)
– Marketing Representative
– Customer Service Representative
– Information Technology

Tuition Fees Details
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Tuition Fees for Tanzanian Students: $516
Tuition Fees for International Students: $1,194

Tuition Fee per year for Tanzanian Students = 1,200,000 TZS
Tuition Fee per year for International Students = 2,777,040 TZS

The Institute of Finance Management (IFM) has made arrangement for instalment payment to ease the financial burden on its students. If one is unable to pay the amounts above at once, he or she can do it in two instalments:
**First Instalment = 60 percent
**Second Instalment = 40 percent

Relevant Contact

Dr. K Mashaushi
Dean, Faculty of Insurance and Social Protection
Admissions Office
Responsible for Admissions Enquiries