Professional Documents
Culture Documents
Polytechnic University of The Philippines Sta. Mesa, Manila
Polytechnic University of The Philippines Sta. Mesa, Manila
Submitted by:
Mercado, Monica Lucille Anne M. Mercado
BBF 3-10N
Submitted to:
Prof. Realin C. Aranza
Practicum Coordinator
I.
Point of View
PPLIC was a pioneer in credit life insurance. It has agreed to provide
insurance to different financial institutions such as banks (government and
private), pawnshops, and lending institutions from Luzon, Visayas, and
Mindanao.
PPLIC is also among the first life insurance companies to computerize
operations. The company has adopted the Electronic Data Processing (EDP)
and has developed different systems for the different types of services they
offer. As the need for development arises, the Information Systems
Department attempts to improve the system successfully or develops a new
line of system that keeps up with the fast paced technology.
II.
III.
Objective
The objectives of this study are: to lessen the time and effort
contributed by the employee in informing the institutions and their borrowers;
to develop the system in making the job simpler and faster; and to avoid
refunding premium remittances to the institutions.
IV.
Areas of Consideration
Since developing a system is not the real nature of the employees
work, the Information Systems Department plays a role in making the system
meet the needs of the employee. The institution and their borrowers are also
affects the study because the case starts from them as provider of premium
remittances and required information.
V.
VI.
The banks and lending institutions can make sure that their borrowers
meet the requirements agreed upon with the company. Having their own copy
of the system, they may perform the task faster and easier. It results to lesser
refunds of premium remittance and more accuracy on the system and their
transmittal. However, most of these institutions are rural banks and multipurpose cooperatives which are small in terms of their financial capabilities.
Most institutions still do not use computers in their business. It makes them
unable to use the system of the company. Furthermore, they have other
functions as an institution. It becomes difficult for them to submit the
remittance at the proper time to ensure that there are no problems with their
borrowers.
VII.
Recommendation
To arrive at a solution, the employee should explain the job to the
Information Systems Department properly and thoroughly. The developer may
perform his job in order for him to understand the job and to provide more
accurate results.
The company should know whether the banks and lending institutions
have access to computers in dealing with their business. If they do, they
should provide them with their system to help one another in making their
own jobs easier and faster.
2. Conclusion
The practicum training program provides the students taking it to learn the basics
of their work after they graduate. It is a preparation for them in facing their future. It is
also where the students are able to apply their learning to the real world in order for
them to earn a living.
I have learned a function of some banks which is to offer insurance to individuals
and to micro-insurance agencies. I also learned that borrowers may also be insured with
the banks usually becoming the beneficiary. It is through Credit Life Insurance. The
company pays the loan when the borrower dies and their loan is not yet paid or fully
paid.
As banking and finance students, it is important to note that the field does not
only focus on banks but also on other financial institutions. The students should always
be informed that there other institutions that they may be trained into.
3. Bibliography
The Philippine Prudential Life Insurance Company, Inc.
http://www.philprudentiallife.com
Credit Life Insurance
www.insurance.za.org/credit-life-insurance.htm