Diploma in Insurance and Risk Management

Course Overview

Insurance and Risk Management diploma programme is designed to provide specialized training to investigate insurance claims, market and sell insurance products, manage risk in securities, banks and insurance underwriting. The programe has been developed specifically to prepare students fit variety of opportunities in the insurance field including vehicle insurance, marine insurance and risk management. This programme will provide opportunities to students to interact with industry professionals with direct industry work experience. Graduates of the diploma in Insurance and Risk Management program are prepared for engaging careers in a variety of fields in private and government sector.

What you'll study

Semester I

    • Basic Insurance Practice
    • Basic Short Term Insurance
    • Essentials of risk management
    • Basic Insurance Agency Management
    • Elements of Business Mathematics and Statistics
    • Elementary Business Communication

Semester II

    • Elements of Micro-Insurance
    • Basic Bancassurance Practice
    • Basic Health Insurance
    • Basic Insurance Regulation
    • Basic Computer Application
    • Elements of Commerce

Semester III

    • Fundamentals of Insurance
    • Fundamentals of Risk Management
    • Introduction to Mathematics and statistics
    • Communication skills and Office Practice
    • Principles of Accounting
    • Elements of Economics

Semester IV

    • Insurance Intermediary
    • Insurance Underwriting Process
    • Introduction to Long Term Insurance
    • Introduction to General Insurance
    • Introduction to Travel Insurance
    • Introduction to Computer Application
    • Practical Training

Semester V

    • Fundamentals of Management
    • Fundamentals of Business law
    • Customer Service in Insurance
    • Household Insurance
    • Principles of Motor Insurance
    • Insurance Underwriting Process

Semester VI

    • Insurance Claims Handling Process
    • Fundamentals of Health Insurance
    • Tanzania Insurance Market
    • Fundamental of Entrepreneurship
    • Insurance, Legal and Regulations
    • Principles of Banking operations
Entry Requirements

Form IV (3 Years Programme)

  • Certificate of Secondary Education Examination (CSEE) with four (4) D passes and above in non-religious subjects or NVTA Level 3, or Any equivalent qualification.

Form VI (2 Years Programme)

  • Advanced Certificate of Secondary Examination (ACSEE) with One Principal Pass and One Subsidiary Pass

What you'll experience

  • Identifying risk management policy and processes
  • Pinpointing all risk exposures
  • Practical Assessing risk management and financing alternatives as well as external conditions in the insurance markets
  • Evaluating property value by different methods, such as book value, market value, reproduction cost, and replacement cost
  • Developing risk management alternative tools (such as loss-control techniques) based upon cost-benefit analysis or insurance
  • Evaluating the potential causes of loss that can affect the firms’ property, including natural disasters (such as windstorms, floods, and earthquakes).

Careers and opportunities

  • Loss Control Specialist
  • Claims Adjuster, Examiners, and Investigators
  •  Risk Analyst, Manager
  • Underwriter

Teaching methods

Teaching methods on this course include:

  • Lectures
  • Tutorials
  • Practical work and group discussions

How you're assessed

You’ll be assessed through:

  • Classroom Tests
  • End of Semester Examination
  • Technical reports
  • Written exams
  • Presentations
  • Competence tests
  • Group discussions
  • Assignments

Course costs

Registration (IAA)   20,000/=

Examination (IAA)   70,000/=

Application Form (IAA)  10,000/=

Wear and Tear          20,000/=

IAASO                       20,000/=

STUDENT ID             3,000/=


EAC                US$ 700

SADC              US$750

Others            US$780

How to Apply

Institute of Accountancy Arusha admission cycles are normally guided by two regulatory authorities which are The National Council for Technical Education (NACTE) and The Tanzania Commission for Universities (TCU). If you apply to IAA, you will be following provisions as set forth by the mentioned authorities.

Different programmes have different entry requirements. You can visit our programme page to see entry requirement for different programmes or be sure to read thoroughly the TCU admission guide book and the NACTE admission guide book.

We consider each applicant and put enormous care into evaluating every application. We hope you will explore the information in this section to understand what we look for in our admissions process

  • Fee 900,000/=
  • Duration 3 Years(Form IV), 2 Years (Form VI)
  • Language English
  • Mode of Study Full Time
  • Intakes October and March Intake