College for Research and Technology

Burgos Avenue, Cabanatuan City, Nueva Ecija

ON-THE-JOB TRAINING
A NARRATIVE REPORT

In partial fulfillment for the course

Bachelor of Science in Accounting Technology
On the requirements for the Subject Practicum

Submitted by:
Angelica V. Bauto

Submitted to:
Mr. Emman P. Arimbuyutan
Practicum Coordinator
Our History

1950

Paramount Life & General Insurance Corporation

traces its roots back to May 1950 when it formally
started its non-life insurance business as the
Paramount Insurance and Surety Corporation. In a few
short years, the Company successfully established a
strong market presence in the small to medium retail
business segment. Guided by an experienced
management team and highly professional staff,
Paramount became quickly known as the Bayad Agad
company for its business practice of quick claims
settlement.

1993

Semper Insurance Corporation was established,

extending Paramounts service range to the corporate
and medium-to-large business market segments.

1997

was a milestone for the Company as a new Paramount

General Insurance Corporation was formed with the
entry of two new strategic investors: the Lucky
Tableware Group of Cebu, the Philippines leading
manufacturer of glass containers, enamelware and
porcelain ware; and the ANJ Group of the Tahija
Family of Indonesia whose interests include
financial services, infrastructure development, and
mining.

2001
 Paramount acquired the Philippine operations of the
Union Insurance Society of Canton, Ltd. from AXA of
France and became known as Paramount Union Insurance
Corporation.

2002

Paramount expanded into the life insurance market

through the acquisition of AEGON Life Insurance
Philippines from AEGON Life N.V. of the Netherlands.

Paramount was renamed to its present, Paramount Life

& General Insurance Corporation, after the Company
was granted a composite license by the Insurance
Commission.

2005

Paramount acquired
 the Manila Bankers Life Insurance Corporations
Individual Life Insurance Portfolio.

2010

Paramount became a familiar commercial

presence with the launch of its Madaling Kausap
campaign, reaffirming Paramounts continued
commitment to servicing its growing number of policy
holders nationwide.

2011

Paramount increased its

Paid-up Capital to Php500 Million pesos, bringing
its total Net Worth to over Php1.7 Billion pesos and
assets of Php4 Billion pesos.

2012

Paramount set another milestone validating its

stronghold in the Philippine Insurance Industry with
its assumption of the life insurance portfolio of
Sony Life Insurance (Philippines).
Today

With over 25 non-life branches and 60 life branches

nationwide, Paramount has one of the most extensive sales and
marketing networks in the industry.

Paramount is the leading insurance provider for Overseas Filipino

Workers (OFWs).

One of the fastest growing insurance companies in the country,

PLGIC provides premium and reliable service in insuring and
protecting Filipinos and their families worldwide.

Our Vision

To provide positive lasting experience for our customers, in

order to be the top-of-mind insurance provider for Filipino
families

Our Mission

To protect what is important for you.

ORGANIZATIONAL STRUCTURE

Patrick Ramon M. Rosanna

Board of Directors L. Go Chu, Jr. L. Go
Chairman Vice Executive
& CEO Chairman Vice PATRICK L. ROSANNA L. GO
(Independ Chairman GO Executive Vice
ent) Chairman Chairman and
& Chief Treasurer
Executive
George T. Lauren L. Hilary L. Officer Paramount Life &
Tiu Go Go General Insurance
Paramount
George S. Jimmy S. JJ Samuel
Life &
Tahija Soo A.
General
(Independ Corporate Soriano
Insurance
ent) Secretary (Independ
ent)

Anthony Wendell
C. T. Ma Garth A.
Advisor Ty
(Independ
ent)

EXECUTIVE OFFICERS &

MANAGEMENT
 GEORGE T. RAMON M. CHU, JR. ENCARNACION EMELYN L. RAMOS
TIU Vice Chairman G. Vice
President & CONCEPCION President, Actuar
Chief Paramount Life & Vice ial
Operating General Insurance President
Officer & Chief
Chief Compliance
Paramount Financial Officer
Life & Officer
General
Insurance
RENE S. ANDRES O. LLAMAS
TOLENTINO Vice President
Vice
President Administration

Marketing

EARL P. LIM MARY GAY O.

Senior Assi MENDOZA
stant Vice Senior Assistant
President Vice President

ISD Corporate Communi

Operations cations & Agency
& Services
Development

ANNABELLE DIANA S. LAO

U. MORONG Assistant Vice
PARAMOUNT LIFE & GENERAL Assistant President
INSURANCE CORPORATION Vice
President Human Resources

Systems
Analyst

LIFE DIVISION
 GEORGE A. RODOLFO C.
ALCANTARA SIBAL
Senior Vice Senior
President & Advisor

Chief Marketing Operations

Officer - LPP
Channel

RYAN ARTHUR G. ALARNIE G.

PADILLA LARA
Assistant Vice Assistant
President Vice
President
Group Marketing
Accounting
 NON-LIFE DIVISION

CRISER C. REYNALDO M.
CAUSING SARIA
Vice President Senior Assistant
for Sales Vice President

Head of Non- Underwriting

Life Division

VIOLETA P. EMMANUEL A.
ORTIZ REINOSO
Senior Assistant Vice
Assistant Vice President
President
Non-Motor Claims
Sales - Visayas
& Mindanao
Region

ROSELLER A. ROBERTO P.
DITANGCO CASTILLO
Senior Assistant Vice
Assistant Vice President
President
Accounting
OFW Business

ALBERTO N. CIA ANGELINA A.

Assistant Vice TANDOC
President Assistant Vice
President
OFW Operations
Cashiering
 INTRODUCTION

Internship or on the job training is one way by which we students

are given an opportunity to apply the theories and computations
that we have learned from school. It also helps us to obtain
applicable knowledge and skills by performing in actual work
setting. Colleges and universities require their students to
undergo such training within a specific number of hours as part
of the curriculum.

For us students, an OJT or internship program provides

opportunities to go through the actual methodologies of a
specific job using the real tools, equipment, and documents. In
effect, the work place becomes a development venue for us student
trainee to learn more about our chosen field and practice what we
have learn from academy.

On the other hand, a valuable OJT program also profits the

companies who accept trainees. First OJT or intern provides extra
manpower for a less significant labor cost than a regular
employee. Most of them are all eager to learn the ropes so
chances are high that theyll be given a chance to work on the
same company as an employee after graduating.

We trainees can bring fresh ideas into the organization. Given

the opportunity to converse our minds freely and without fear, we
may be able to contribute significantly in brainstorming sessions
or research and eventually help improve the organizations
productivity.
While training the interns, employers are in fact also teach
their employees to guide the trainees by stretching their
patience, develop teaching skills and make them more sensitive to
the needs and mind set of the younger generation. The course of
supervision also teaches them how to share what they know and be
receptive to questions. Hence, the internship also becomes an
avenue in training for future managers of the company
 INSIGHTS AND LEARNINGS DURING PRACTICUM

The training I had in Paramount Life and General Insurance

Corporation (PLGIC) is unforgettable. I learned many experiences
each day. I was exposed in the actual work in PLGIC, became
familiar with the documents prepared by the heads there and
learned how to use equipment that are usually used in the office.
Aside from those things, I also learned to be more sociable and
to adjust myself in the environment where I am working at and who
I am working with.

In my more than a month stay there, I learned many things not

only those things that are related to my course but also the
things that molded me into the person I am right now. As I was
working as a trainee at PLGIC, I learned to become a hard-working
person. The time to finish the task assigned to me is important,
but it is also important that I should do it correctly. I learned
to appreciate even the simplest lessons studied in school. I was
able to realize the importance of theories and formulas that were
discussed in the school.

Also, to understand that everything that was taught in the school

can be a tool that can be used in my future career, because
during my On-the-Job Training, the terms that I have learned from
school were used in the company where I was conducting my
training, especially those terms related to Accounting. As I was
conducting my training there, I also learned and to accept or
admit my failure and should learn from it as what my Training
Manager said to me. After the training, I realized that on-the-
job training is not just a requirement to be completed but it is
an opportunity to show what skills, knowledge, and talents that I
have and also an opportunity to experience the feeling of being a
professional already. Aside from the experiences that I had
relating to my course, this On-the-Job Training allowed me to get
acquainted with the employees of PLGIC. Being with them is a
pleasure because I was working with the professionals.

During my stay there as a trainee, they kept on encouraging and

motivating me to study hard and to do my best always. I wont
forget my Training Manager who challenged not just my skills and
abilities but also my patience. He is a kind of person who wants
everything to be done instantly and correctly. He doesnt like
having doubts. I was always nervous whenever he calls for my
help.

But with that experience that I had with my Training Manager, I

am so thankful to her because she taught me to be more patient
and to be confident of what I know is right and not to have doubt
about what I can do.
Whenever she asks me to do something, she always keeps on saying
that I should do things slowly but surely. She never pressured me
to make haste in doing the tasks that she has given me.

All of the people I have worked with during my On-the-Job

Training are all very inspiring. They all left a piece of advice
to me that I will surely keep in my mind and in my heart for the
rest of my life. I really had a very meaningful and memorable On-
the-job Training at PLGIC. Though I already finished working
there as a trainee, I am looking forward to working with them,
not as a trainee anymore, but as an accountant, SOMEDAY.
 C O N C L U S I O N

Nothing beats experience as the perfect learning tool. This On-

the- Job Training served as my stepping stone to pursue my dream
to be a Certified Public Accountant someday. This training gave
me an inspiration to be more serious and focused in studying. I
was encouraged to do more efforts in my studies. Since I was
given some ideas about the work of an auditor in the company
where I conducted my training, I am inspired to be like them
someday. Despite the short period of my training, it was still a
very meaningful one. The training enriched my confidence created
a foundation of being a good employee someday. It caused a very
huge effect to me as a Bachelor of Science in Accountancy
Student. I was really renewed. I learned to be diplomatic in both
action and words. This training made me realize that it is really
good to know what youre doing, and to love it. As a student,
what I can do for now is to learn whatever I can in school, be
inspired, love the path I am taking, and do my best in everything
I do, with a positive outlook in mind. I realized that I should
be more focused in school and do everything heartily and with all
that I can.

It is also very warm to the heart to know that you have

accomplished something and even warmer when there are people who
are so proud of what you have done and I felt this feeling during
my On- the-Job Training. It inspired me to be more determined and
competitive in everything that I do in my daily life as a student
today and as a professional someday. My On-the-Job Training is
very helpful and will be very helpful to me as I continue to take
my journey as a fourth year student in the field of Accountancy.
It really gave me a taste of the real world a glimpse of what
lies ahead after I graduate.
 REVIEW OF THE ORGANIZATIONAL AND ITS OPERATION

The Paramount Life and General Insurance Corporation (PLGIC) was

a great organization because it can achieve its mission and
vision. The PLGIC is a company that serves its client and led
them towards success. They give some advice to their clients that
will become successful. As one of the leading insurance company,
they continue to achieve their goals while serving and helping
their clients in the area.

MY STRENGHT AND WEAKNESSES DURING MY ON-THE-JOB TRAINING PROGRAM

I think that I have a strength and weaknesses when I undergo the

on-the job training program of the College for Research and
Technology. In my on-the job training I observe that I have
something that will be useful in accomplishing my task.

For me, my strength during my OJT is being responsible and being

punctual at all times. I can handle the given task very
efficiently, and finished the given task at a given time. I am
good with computer, for me that is one of my best strength. I am
computer literate; I have a deep background in using a computer
and its application. I am proficient in using Microsoft Word,
PowerPoint, Excel, Access and Publisher.

Being bubbly and funny during work time is very helpful because I
can make the work load easier. It lessens the stress and pressure
we feel. I am friendly and very approachable, thats why I have
made friends easily.

Furthermore, my weak points is being timid and being shy at

first. But overall, I can say that I am very effective and
efficient during my On-The-Job Training.
 STRENGHT AND WEAKNESSES OF THE COMPANY

STRENGTH

The company has a lot of services offered to their

customers. The company strives to provide salary levels and
benefits which allow the employees to support their dependents
and well-being. The company is united. They work as one, they
have teamwork and unity.

WEAKNESSES

The employees sometimes dis obey the rules of the company,

some of them are using their mobile phone during work time. And
one of the insurance associate dis obey the company greatest rue;
not to accept cash if you are not the cashier or the branch
assistant.

REVIEW OF THE TRAINING EXPERIENCE

On-The-Job Training is a form of training taking place in a

normal working situation or we called it real world situation. At
the end of my training, I experienced many things and learned
from it. I gained knowledge working with the company those
services for insurance. I experienced how to deal with the people
around and with my co-trainees. I experienced how to handle my
stress when it comes to work.

PROBLEMS ENCOUNTERED DURING OJT

As an OJT student, I cant control the situation to encountered

problems during OJT. My main problem is being shy, but as time
passes by I can adjust to my new environment and can work
comfortably.
 RECOMMENDATION

I highly recommend to my fellow trainees that they must observe

the professionalism in the organization that they belong too.
They must focus on the task that their trainer given to them.
They must work efficiently and effectively. I recommend also that
they must have a good relationship to the employees to the
company. And also they should listen carefully with the
instruction in order to work well.

PICTURES DURING OJT