[1][2] The species was formally described in 1878 by the Austrian zoologist Franz Steindachner from Colombia's Rio Magdelena.

[3] Steindachner originally placed T. insignis in the genus Auchenipterus, another group of driftwood catfishes, and it has also been moved into Parauchenipterus, which is no longer considered valid.

[4][5] T. insignis is exclusively freshwater and is endemic to the lower Rio Magdalena river basin of Colombia.

[1] Like many other members of the driftwood catfishes, T. insignis is nocturnal, hiding in logs during the daytime, and venturing outside at night to feed.

[8] While not present in the freshwater aquarium trade, these fishes have been bred in captivity: with a gravel substrate and floating watersprite plants.