Hifadhi Biashara | Tigo Tanzania
Stay safe and healthy. Please practice hand-washing and social distancing, and check our resources for adapting to these times..


 Hifadhi Biashara

Hifadhi Biashara:

Hifadhi Biashara English translates ‘to preserve business’ is a microinsurance policy designed to protect the livelihoods of small business owners in Tanzania from the common perils of their everyday routine.

Currently we have had numerous incidents of fire in different local markets in Tanzania example in Kariakoo market, Karume and Mbagala market in Dar-es-salaam and many other across the country.

However, most insurance policy(s) requires a customer to fill in some paperwork and premiums charges are high where as with Hifadhi Biashara insurance customer will not be required to have any paperwork filled and will be able to get a cover for 7,000 TZS per month as premium charges for material damage, loss of money, burglary, Funeral expense and Rent cover in a digital ways.

This microinsurance policy is tailored for business owners, owning small & medium businesses (SMEs) such as wakala stores, barber shops, market traders, salons, groceries shops, butcher shops, tailors, and other small business owners and retailers.

Risks Covered & Their Limits:

  1. Material damage up to Tsh 5,000,000
  2. Loss or damage money: up to TZS 250,000
  3. Burglary: up to TZS 1,000,000
  4. Funeral last expense: up to TZS 1,000,000
  5. Rent Cover: up to TZS 1,000,000

How Much Does the Policy Cost?

  1. TZS 7,000 Monthly
  2. TZS 21,000 Quarterly
  3. TZS 42,000 for six Months
  4. TZS 84,000 for 12 Months

Hifadhi Biashara Journey

1. Register and purchase the policy:

  1. Dial *150*01#
  2. Select 7: Financial Services
  3. Select 3: Insurance
  4. Select 3: Hifadhi Biashara
  5. Select 1: Buy policy
  6. Review the policy details, then select 1 to continue
  7. Enter Business/Insured name
  8. Enter beneficiary/next of kin mobile number
  9. Choose payment type
  10. Enter Tigo Pesa Pin

2. Open Claims:

  1. Dial *150*01#
  2. Select 7: Financial Services
  3. Select 3: Insurance
  4. Select 3: Hifadhi Biashara
  5. Select 2: Claim
  6. Choose to claim as Principal or as beneficiary (next of kin)
  7. Then follow instructions

3. Check Policy Status:

  1. Dial *150*01#
  2. Select 7: Financial Services
  3. Select 3: Insurance
  4. Select 3: Hifadhi Biashara
  5. Select 3: Check status
  6. Then follow instructions.

4. Renew Policy:

  1. Dial *150*01#
  2. Select 7: Financial Services
  3. Select 3: Insurance
  4. Select 3: Hifadhi Biashara
  5. Select 4: Renew policy
  6. Then follow instructions.


Frequently Asked Questions:

  What is Hifadhi Biashara Insurance Scheme?

Hifadhi Biashara is an insurance product that is designed to protect small business owners and their families in Tanzania.

  Who can purchase Hifadhi Biashara Insurance policy?

Anyone with a micro business can opt to purchase Hifadhi Biashara Insurance policy.

  How do you purchase the insurance policy?

A customer can purchase the insurance policy by dialing  Tigo Pesa menu (*150*01# )

  • Select (7) Financial services
  • Select (3) Bima Mkononi
  • Select (3) Hifadhi Biashara
  • Select (1)Buy policy
  • Then Review the policy details, then select 1 to continue
  • Enter Business/Insured name
  • Enter beneficiary/next of kin mobile number
  • Choose premium payment type
  • Enter Tigo Pesa PIN.

The premium amount you chose will then be deducted from your mobile money wallet and once the payment goes through you will be sent the list of covers and the benefit limits.

  Do you require any documentation to join the insurance policy?

You will not be required any documentation to join the insurance policy, but your Tigo Pesa registered mobile number only.

  What does Hifadhi Biashara covers?
  • Material Damage: For a claim against fire, explosion, flooding, earthquake, Acts of God, riots and strike etc.
  • Burglary: If your goods are stolen at your premises.
  • Rent: For rent expenses for up to 10 days on top of material damage claim.
  • Money: For money stolen at your premises or if you are robbed.
  • Last Expense/Funeral expenses: In the event of a death to help with the funeral expenses.
  What are the insurance policy limits of Hifadhi Biashara?
  • Material Damage: Hifadhi Biashara will compensate up to TZS 5,000,000.
  • Burglary: Hifadhi Biashara will compensate up to TZS 1,000,000
  • Rent: Hifadhi Biashara will compensate up to TZS 1,000,000
  • Money: Hifadhi Biashara will compensate up to TZS 250,000
  • Funeral Expenses: Hifadhi Biashara will compensate up to TZS 1,000,000.
  What is the premium and how is the premium purchased?

You can select premium payment type as shown below by purchasing direct through your Tigo Pesa USSD.

  • TZS 7,000 on monthly basis
  • TZS 21,000 quarterly basis
  • TZS 42,000 bi-annually
  • TZS 84,000 annually which is the maximum amount per year.
  At what point in time am I automatically withdrawn/cancelled from Hifadhi Biashara Insurance cover?

You will automatically be withdrawn/cancelled from Hifadhi Biashara insurance once you haven't renewed your policy after a grace period of 15 days after expiration.

  What happen if one purchases Hifadhi Biashara insurance after the grace period time?

The below will happen:

  • Your policy will be cancelled and
  • You will be required to buy policy as a new customer and follow the registration process
  What will happen to the old scheme once I purchase after Hifadhi Biashara grace period is over?

Your previous policy will be forfeited, and a customer must register by purchasing Hifadhi Biashara new policy.

  Can I withdraw from Hifadhi Biashara Insurance scheme? And How long?

Yes, you can withdraw from your policy anytime by communicating with Hifadhi Biashara customer support number 0677066696/7. However, for any active scheme a customer will have to wait for 30 days until the policy expires since the paid amount is not refundable.

  How can I claim?

You report a claim directly by dialing Tigo Pesa USSD code (*150*01#) and follow the menu options.

  • Dial *150*01#
  • Select (7) Financial Services
  • Select (3) Insurance
  • Select (3) Hifadhi Biashara
  • Select (2) Claim
  • Choose to claim as (1) Principal or as (2) beneficiary (next of kin) and then follow instructions.
  How long should a customer wait until the claim is settled (SLA)?

All eligible claims are to be settled in 72hrs/3 days after verification has been done. If more information is needed about a claim, Hifadhi Biashara team will contact you within 72 hours.

  How long should a customer wait until the claim is settled (SLA)?

All eligible claims are to be settled in 72hrs/3 days, if more information is needed about a claim, Hifadhi Biashara  will contact you.

  How will a customer receive payments after claims have been settled?

All claims/payments will be paid directly to customer’s Tigo Pesa wallet.

  Incase of Funeral/ Last expense, who will be receiving the payment after claims have been settled?

Your next of Kin registered during the Buy Policy will be credited with the Funeral/ Last expense.

  What should a customer do when an incident has occurred?

For best practice, we recommend the customer to report to Hifadhi Biashara within 24 hours to allow them to collect all necessary evidence for the claim process payment.

  In case of Hifadhi Biashara queries, claims, complaints who should we contact?

In case of product queries, claims and complaints resolution, please Dial Hifadhi Biashara 0677066697,  email address: This email address is being protected from spambots. You need JavaScript enabled to view it., website www.hifadhibiashara.co.tz

  In case of Tigo Pesa service disruption who should we contact?

In case of service disruption and query resolution, please dial 100.

Meaning of words and terms used in your insurance policy  

Wherever the following words or terms are used in your policy, they will mean the following:

 

“annual period”

means a period of 12 consecutive months as shown in your schedule. The first annual period starts on the on the inception date of your policy shown in the schedule up to the revision date shown in your schedule.

“armed robbery”

means the unlawful taking of money in your possession by force or intimidation making use of a dangerous weapon.

“burglary”

means the unlawful taking of your property by someone breaking into the building where your business is situated and there are actual, visible signs of break-in.

“business”

means the nature or description of your  business as shown in your schedule.

“claim/claims”

means any request for us to pay you for loss or damage.

“contents”

means the contents of your business at the risk address . Contents include office equipment, stock, materials in trade, tools, machinery and electronic equipment.

“excess”

means the amount you have to pay before we settle your claim.

“electronic equipment”

means electronic devices or machines for example computers and laptops.

“fire”

means damage caused by flame.

 “inception date”

means the date your policy cover started.

“machinery”

means a system or device for doing work together with its power source and auxiliary equipment.

“risk address”

means the address of the premises on which your business is situated and/or operating from.

“Schedule”

means the document containing your unique policy cover details.

“stock”

means the goods you sell to your customers.

“you/your/yours”

 

“us/our/we”

“funeral expenses”

 

means the names shown in the schedule whether it is your individual name or the name of your

business.

means Sanlam Tanzania General Insurance Limited

means burial expenses incurred for accidental or Natural death of the Insured person.

 

 

Your policy

Your policy has all the terms and conditions that are a part of your insurance contract with us. We agree to pay for your losses as long as you meet all the conditions of your policy and the loss or damage was caused by one of the insured events.

Your policy is made up of your acceptance of our offer through our USSD service, your Schedule, our terms and conditions, correspondence to you and any changes we have agreed to in writing.

 

Paying for your insurance cover

You must pay us an amount of money called a premium each and every month which will be collected with your permission from your Tigo Mobile Wallet. Should you not pay the premium by the due date of the premium, we will grant you 15 days grace period and if we still do not receive a premium by the end of the15th day, we will cancel your policy.   

Claims

If the contents of your business are damaged or stolen, you can make a claim. If something happens to the contents of your business, you must contact us to let us know. You must read your policy very carefully so that you understand when we will accept a claim.

 

Cover for Contents, Rent, Money, Burglary

Insured Property

The property insured is contents of the business that belong to you or for which you are responsible at the risk address as shown in your schedule. We will compensate you for any single claim or series of claims resulting from the same event up to the applicable sum insured shown in your schedule.

Insured Events

We will cover you if your insured contents is lost or damaged by the perils of fire; lightning or thunderbolt; explosion; storm, wind, water, hail or snow; earthquake; impact by vehicles, aircraft or objects falling from them up to the sum insured shown in your schedule. We will also cover you loss of or damage to the property insured whilst transported to or from the risk address caused by fire and/or explosion.

We will cover you for rent payable as a result of any of the perils stated in the “Insured Events” up to the indemnity period as shown in your schedule.    

We will cover you for loss or damage as a result of burglary from your premises up to the sum insured shown in your schedule.

     We will cover you for loss or damage to money from your premises caused by armed robbery and whilst transported to or from the bank up to the

     sum insured shown in your schedule.

 

Not covered  

     We will not cover loss or damage caused by any process which uses or applies water or wear and tear or gradual deterioration; mildew, rust or

     corrosion.

 

 Cover for Funeral Expenses 

Insured Events

We will cover you for funeral expenses incurred as a result of accidental death or Natural death up to the sum insured shown in your schedule.

 

Not covered  

     We will not cover you where death is directly or indirectly caused by your own actions.

 

 Terms and Conditions for your policy

We provide cover under your policy subject to the following terms and conditions.

 

You must take care

You must take all reasonable care to prevent or minimise loss, damage, death, injury or liability and not act recklessly.

 

Cancellation

You may cancel your policy at any time. We may cancel this policy by giving you 30 days’ written notice of the cancellation at your postal address as shown in your schedule or by any other means of correspondence.

 

Claims

If we replace or repair your property, we will try to give you exactly what you had, but it may not always be possible. We may use any supplier or repairer of our choice if we repair or replace your property. Before we finalise or settle any claim, we may require you to sign an agreement of loss.

 

How to claim

     You must tell us as soon as possible of anything that happened that may result in a claim and tell us of any other policy you may have.

You must give us full details of what happened within 30 days after it happened. You must also give us all the documents we may ask you.

You must immediately inform us in writing if you become aware of anyone who wants to sue you or claim against you.

You must go to a police station within 48 hours of any burglary or criminal act. You will have to sign an affidavit at the police station and provide full details of the cause of the damage, loss or burglary. You must also get a police case number.

You must not promise anyone anything after an incident has happened. You must contact us as soon as possible and we will help you with your claim.

You must tell us as soon as possible of anything that happened that may result in a claim and tell us of any other policy you may have.

You must give us full details of what happened within 30 days after it happened. You must also give us all the documents we may ask you.

You must immediately inform us in writing if you become aware of anyone who wants to sue you or claim against you.

You must go to a police station within 48 hours of any burglary or criminal act. You will have to sign an affidavit at the police station and provide full details of the cause of the damage, loss or burglary. You must also get a police case number.

You must not promise anyone anything after an incident has happened. You must contact us as soon as possible and we will help you with your claim.

 

Our rights after something happened and you want to claim

You must allow us to visit your premises and help you with your claim. We may need to take the property that was damaged to repair it or take it to someone to determine if it can be repaired. It remains your property until we paid you. You must continue protecting your property until we have taken it away.

You must give us all the information and help we need and we may take over the recovery, defence or settlement of a claim and conduct it in your name.

We may decide not to go to court or negotiate with someone else’s attorney. If we decide this, we may offer to pay you the amount that we think you are liable for. If the other person will accept a lesser amount, we will pay you that amount as final settlement.

You must tell us the truth

You must always give us information that is true, correct and complete to the best of your knowledge. Make sure nothing is missing.

If you do not give true, correct and complete information, we may cancel your policy and refuse to pay out a claim.

You must not commit fraud or make a fraudulent claim.

If you do commit fraud or submit a claim that is in any way fraudulent, we will lay charges with the police, cancel your policy and not pay out the claim. We will also not give you back any of the premiums that you paid.

Time limits

If we reject your claim in writing, or if you dispute the amount of a claim which was made in writing, you may, within 15 days from the date of our last communication, make written representations to us.

If we still reject your claim or dispute the amount of your claim despite your written representation, you may institute legal proceedings against us within 6 months from the date we communicated the rejection of your written representation to you.

We are not liable to pay a claim after 12 months from the date of the event that gives rise to a claim, unless the claim is the subject of pending court action or arbitration; or for amounts for which you may become legally liable.

No premium refund if maximum package sum insured is settled for any claim

If we compensate you for a claim for the maximum package sum insured payable for an event or item, we will not refund any premium for the remainder of the period of your insurance for that event or item.

Reinstatement of sum insured 

The sums insured shown in the Schedule will not be reduced by the amount of any claim unless stated otherwise.

Other insurance

If a claim is payable under this policy and under any other policy, we will only pay our proportional share of the claim.

Important information you must tell us

You must tell us immediately if something changes for example if you move your business to a new address or if you start a new business.

If you do not tell us of any changes, we may cancel the policy or refuse to pay any claim that happened after the changes.

The term “you” includes any person acting on your behalf.

Jurisdiction and currency

This policy is subject to the jurisdiction of the courts of the Republic of Tanzania. All compensation will be made in Tanzanian Shilling currency.

A person who deals on your behalf

You give up your right to receive compensation if a person who deals on your behalf does not comply with the terms and conditions of this policy.

 

Not covered by your policy

We will not cover any loss, damage or legal responsibility which is caused by or results from or relates to any of the following:

 

Riots, Wars, political acts, public disorder, terrorism or any attempted acts of this type.

Civil commotion, labour disturbances, riot, strike, lock-out or public disorder or any act or activity which is calculated or directed to bring about any of the above. War, invasion, act of foreign enemy, hostilities or warlike operations (whether war was declared or not), or civil war. Mutiny, military rising or usurped power, martial law or state of siege, or any other event or cause which determines the proclamation or maintenance of martial law or state of siege, insurrection, rebellion or revolution. Any act or attempt (whether on behalf of an organisation, body, person or group of persons) calculated or directed to overthrow or influence any state or government or any provincial, local or tribal authority with force or by means of fear, terrorism or violence.

Any act or attempt calculated or directed to bring about loss or damage to further any political aim, objective or cause, or to bring about any social or economic change, or in protest against any state or government, or any provincial, local or tribal authority, or for the purpose of inspiring fear in the public, or any section thereof.

The act of any lawfully established authority in controlling, preventing, suppressing or in any other way dealing with any event which is relevant to riots, war, political acts or public disorder. .

Any act of terrorism. An act of terrorism means the use or threat of violence for political, religious, personal or ideological reasons. This may or may not include an act that is harmful to human life. It could be committed by any person or group of persons, acting alone, on behalf of or with any organisation or government. It includes any act committed with the intention to influence any government or inspire fear in the public.

If we state that a claim is not covered because of any of the reasons above, you must prove that it is covered under your policy.

Incidents that happen for which the associated damage is covered by legislation

Any event for which a fund has been established under the War Damage Insurance and Compensation Act (Act 85 of 1976) of the Republic of Tanzania.

 

Nuclear substances

Nuclear weapons material, ionising, radiations or contamination by radioactivity from any nuclear fuel, or from any nuclear waste, or from the combustion of nuclear fuel which includes any self-sustaining process of nuclear fission.

 

Computer losses

The incapacity or failure of any computer:

to treat any date as the correct date or true calendar date, or correctly or appropriately to recognise, manipulate, interpret, process, store, receive or to respond to any data or information, or to carry out any command or instruction, in regard to or in connection with any such date; or

to capture, save, retain or to process any information or code as a result of the operation of any command which has been programmed into any computer, being a command which causes the loss of data or the inability to capture, save, retain or correctly to process such data in regard to or in connection with any such date; or

to capture, save, retain or to process any information or code due to programme errors, incorrect entry or the inadvertent cancellation or corruption of data and/or programmes; or

to capture, save, retain or to process any data as a result of the action of any computer virus, or other corrupting, harmful or otherwise unauthorised code or instruction including a Trojan horse, time or logic bomb or worm or any other destructive disruptive code, media or programme or interference.

Computer means any computer, data processing equipment, microchip, integrated circuit or similar device in computer or non-computer equipment or any computer software, tools, operating system or any computer hardware or peripherals and the information or data electronically or otherwise stored in or on any of the above, whether it is your property or not.

Nationalisation

Nationalisation, confiscation, commandeering, requisition, wilful destruction, forfeiture, attachment, impounding, seizure or preservation or any similar actions or processes by any court order, customs, police, crime prevention units, or lawfully constituted authority or officials.

Indirect loss

Consequential or indirect loss of any nature, except where our compensation relates to business interruption or liability cover.

Subscribe to our monthly newsletter

Find a Tigo shop