Insurance plays a crucial role in risk management, financial stability, and peace of mind for individuals, families, businesses and whole sectors. In Tanzania the insurance sector has grown significantly over the past years with a broad range of companies offering diverse insurance packages to meet many needs. Below is a review of some major Insurance Companies in Tanzania and the insurance packages they offer.
Major Insurance Companies & Their Packages
1. Strategis Insurance (T) Ltd
Strategis is known particularly for medical (health) insurance, but also offers a wide suite of non-medical insurance products.
Insurance Packages & Products:
- Medical / Health Insurance
- Group Health Insurance (Standard and Tailor-Made Schemes)
- Individual Health Cover (for individuals/families)
- International Health Cover (for expats or executive plans, including emergency evacuation)
- Specific benefits: inpatient, outpatient, maternity, chronic disease cover, dental & optical, foreign treatment, emergency evacuation etc.
- Non-Medical Packages
2. Jubilee Insurance Tanzania
Jubilee Insurance is one of the more established insurers in Tanzania and offers life, health, pensions, as well as general insurance.
Insurance Packages & Products:
- Life & Pension
- Health / Medical Insurance
- General Insurance
- Individual: Home Insurance, Motor Vehicle Insurance, Travel Insurance
- Corporate / Specialized: Crop Insurance, Livestock Insurance, Marine Hull and Cargo Insurance, All Risk Insurance, Group Personal Accident, Professional Indemnity, Fidelity Guarantee etc.
3. Britam Insurance Tanzania
Britam provides a mix of general insurance and health insurance products.
Insurance Packages & Products:
- Health Insurance
- Afya Care – for individuals and families, with inpatient (IP) and outpatient (OP) coverage
- Amani Health – tailored for Micro, Small and Medium Enterprises (MSMEs) and formal groups, also with IP & OP coverage
- Benefits include dental, maternity, optical, last expense, repatriation of remains; cover is in tiers (POA, IMARA, SUPER)
- Other General & Personal Insurance
- Motor Insurance (comprehensive and third-party)
- Travel Insurance with several plans (e.g. Gold, Premium, Schengen, Student)
- Home Insurance (property)
- Personal Accident, Professional Indemnity, etc.
4. SanlamAllianz Tanzania
SanlamAllianz is a newer joint venture combining Sanlam and Allianz, with the intention to offer both life and general insurance across Tanzania.
Insurance Packages & Products:
- General Insurance / Retail
- Life Insurance (as part of their product mix)
- Health Insurance / Assistance (likely including medical/health cover)
- Other services: Retail Credit, Asset Management, Third-party Administration etc.
5. Alliance Insurance Corporation Ltd
Alliance provides many general insurance products, especially non-life covers.
Insurance Packages & Products:
- Travel Insurance – with various plans depending on destination (Inbound, Outbound, worldwide etc.)
- Marine Insurance (Cargo, Hull)
- Motor Insurance
- Fire Policy (property / buildings)
- Machinery Breakdown, Electronic Equipment Insurance, Contractor’s All Risks, Erection All Risks
- Corporate Plus, Agriculture Insurance etc.
6. ICEA LION Group
ICEA LION offers a broad spectrum of products for individuals, families, business, and employees.
Insurance Packages & Products:
- Personal Insurance
- Personal Accident Insurance
- Travel Insurance
- Home Insurance / Domestic Package
- Motor Insurance (private)
- Business / Commercial Insurance
- Life Assurance / Savings / Investment
- Life assurance, term assurance, endowment products, pension / retirement schemes.
About the Author
