Small Business Insurance (Hifadhi Biashara)

New Microinsurance policy

Hifadhi Biashara is our new microinsurance policy for small business owners. It is specially designed to protect you from the common perils of your everyday routine. Small Business Insurance is tailored for wakalas, duka owners, market traders, and other small business owners and retailers.

Hifadhi Biashara means ‘to preserve business’ in Kiswahili. It is designed to protect the livelihoods of small business owners in Tanzania


What is microinsurance?

Microinsurance protects small business owners and people on a low income from risks like theft, fire, and natural disasters. Premiums for a microinsurance policy are low, making them more affordable than a standard insurance policy.

Traditionally, insurance has been too expensive for many small business owners, and they have been left without a way to protect themselves. But now modern technology is making insurance more affordable and accessible. 

How does Hifadhi Biashara work?

Our Hifadhi Biashare (Small Business Insurance) policy is managed through a mobile platform. This means that it is easy for you to access and cost-efficient for the insurer. You simply purchase your policy via USSD commands text message or by downloading an app – whichever you prefer. 

If you suffer a loss under one of the risks covered within the policy, you can make a claim. You can notify and provide all claim details via USSD codes on your mobile or an app in order for the insurance company to process and settle your claim. If they find everything is in order, they will transfer the money to cover your loss (up to the agreed limit). There is no complex paperwork and you don’t need a printer, scanner, or computer – it can all be handled using your mobile phone!

What does our policy cover?

Material Damage/Uharifibifu wa Mali
We will pay up to TZS 5,000,000 if your property is damaged or destroyed by fire, explosion, flooding, earthquake, Acts of God, riots and strike etc.  

Burglary/Wizi
We will pay up to TZS 1,000,000 if your property is stolen from your premises.

Rent/Fidia ya kodi ya jengo
If your property is damaged and you can’t pay your rent as a result, we will pay up to TZS 1,000,000 towards your rent expenses for up to 10 days following a material damage claim.

Money/Upotevu wa pesa 
If you are robbed or your money is stolen from your premises, we will pay up to TZS 250,000.

Last Expense/Mazishi yako au ya mrithi
We will pay up to TZS 1,000,000 in the event of a death to help with the funeral expenses.

Please click for full policy wording in Kiswahili and English

How much does the policy cost?

Hifadhi Biashara costs TZS 7,000 per month. You can choose to pay monthly, quarterly, every 6 months or on an annual basis, depending on your circumstances and preferences.

TZS 7,000 per month 
TZS 28,000 per quarter 
TZS 42,000 6 Months 
TZS 84,000 12 Months

How to buy Hifadhi Biashara:

The Hifadhi Biashara policy is available to purchase on your mobile phone. There is no need to fill in an application form. You can purchase it in one of two ways:

Through the USSD code *150*01# 
Or by downloading the Tigo app.

Menu options are available in both English and Kishwahili.

To purchase the policy:

  1. Dial USSD Code *150*01# or open the Tigo app
  2. Select Financial Services
  3. Select Business Insurance
  4. Select Register 
  5. Review the policy details and limits, and confirm that you are happy to proceed
  6. Select policy period (1 month, 3 months, 6 months, or 12 months)
  7. Confirm the policy purchase by pressing 1
  8. Input your mobile money pin code
  9. You will receive a confirmation message of policy purchase

How to claim

It is easy to claim on your Hifadhi Biashara policy. If you experience one of the risks covered by your policy, you can claim from the insurer via your mobile phone. 

All claims will be paid within 3 working days, so long as you provide all of the required information. We’ve listed below the information you need to provide, and if the insurer needs any additional details, they will contact you to let you know.

Once your claim has been approved, the payment will be made directly into your mobile money account.

If you are making a claim for material damages or funeral claims, you will need to submit images or documents as evidence of your loss via the Smartpolicy Smart Camera app or through our online claims form.

To report a claim via the Smart Camera app:

  1. Dial USSD Code *150*01# or open the Tigo app
  2. Select Financial Services
  3. Select Business Insurance
  4. Select report a claim
  5. Input your policy number (your phone number)
  6. Select type of claim
  7. Input claim details as per the claim type

What you need to provide to support your claim:

Claim typeWhat to submit
Material DamageEnter the date of the incident and the claim amount. You will receive an SMS confirmation that your claim has been reported, and is awaiting submission of images of the damaged item/s. You will be required to upload images of the damaged item/s on the Smartpolicy app or upload the document via our online claims form for further processing of the claim.
BurglaryEnter claim amount and police report amount and you will receive an SMS confirmation that your claim has been reported.
MoneyEnter claim amount and police report number and you will receive an SMS confirmation that your claim has been reported.
RentEnter the claim amount. You will receive an SMS confirmation that your claim has been reported, and is awaiting submission of the rental contract. You will be required to upload images of the rental contract on the Smartpolicy app or upload the document via our online claims form for further processing of the claim.
FuneralEnter death date number. You will receive an SMS confirmation that your claim has been reported, and is awaiting submission of the death certificate/burial certificate. You will be required to upload images of the death certificate/burial certificate on the Smartpolicy app or upload the document via our online claims form for further processing of the claim.

How to renew your policy

When your policy is about to expire, you will receive a renewal notification. You can then renew your policy through the Tigo app or through the USSD code *150*01#. Simply follow the How to buy steps above to renew your policy.


Check your policy status

If you want to check the status of your policy, you can do this at any time through the USSD code *150*01# or through the Tigo App.
 

Got a question? We can help

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+255 22 292 3442

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