WPCS 2.1.2
Tuition Fees:$2,065 /year
Applications Begin:June 2020
Final Award:Master of Science in Insurance and Actuarial Science
Start Date:October 2020
Academic Unit:Faculty of Insurance and Social Protection
Campus:Main Campus
Application Deadline: September 2020
Programme Overview

The Master of Science in Insurance and Actuarial Science at NTA level 9 is geared towards producing competent graduates with master’s degree become competent strategic managers in the field of insurance and actuarial science who will work as managers at senior level positions in public and private sectors.The objectives of the programme are:
i. To allow experienced professionals to upgrade their insurance knowledge;
ii. To assist those professionals in earning professional certification;
iii. To provide a solid academic foundation for its constituencies to become successful actuaries;
iv. To offer a structured assistance for those professionals or students wishing to take the international exams of the Society of Actuaries, the Causality Actuarial Society, Insurance, or others.


First Semester:
– Theory of Risk and Insurance Business
– Contingency
– Actuarial Practices
– General insurance
–  Financial Mathematics

(Electives – at least one)
– Marketing of Financial Services(Elective)
– Advanced Claims Management (Elective)
– Principles of Finance and Financial Analysis(Elective)

Second Semester:
– Risk Analysis and Modelling
– Insurance Law and Regulations
– Survival Models
– Property and Casualty Insurance
– Research Methodology
– Dissertation

Elective modules (at least one)
– Re-insurance Practice(Elective)
– Marine and Aviation Insurance(Elective)
– Financial Management(Elective)

Admission Requirements

Either first degree or advanced diploma with at least a second class, or a first degree or advanced diploma (with a pass class), and a good postgraduate diploma in the related field from a recognized higher learning institution.

Application Process
Application Fees for Tanzanian Students: $22
Application Fees for International Students: $50

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 Master of Science in Insurance and Actuarial Science include:
– Business analysts
– Budget analysts
– Analysts intelligence agencies
– Research analysts
– Financial analysts
– Insurance underwriters
– Insurance claims adjusters

Tuition Fees Details
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Tuition Fees for Tanzanian Students: $2,065
Tuition Fees for International Students: $2,389

Tuition Fee per year for Tanzanian Students = 4,800,000 TZS
Tuition Fee per year for International Students = 5,554,080 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 four instalments:

Relevant Contact

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