The employee at the Philippine Prudential Life Insurance Company spends significant time manually preparing letters and developing systems to inform institutions and borrowers when applicants do not meet requirements for credit life insurance or premium refunds are approved. To streamline this process, the Information Systems Department could improve the existing system to automatically generate letters. Providing the lending institutions with access to the company's system may also help them inform borrowers earlier about issues with their applications and reduce premium refunds. The employee and Information Systems Department should communicate thoroughly to develop an accurate, improved system with the goal of making the process faster and less time-consuming.
This slides helps you to understand the basics of online loan system & its verification. its requirement,s & the procedure it follows with different types of diagrams etc. (This slide is only for idea & its not 100% Accurate.)
For more this report helps you in detailed view of this project.
http://www.slideshare.net/SobanAhmad2/online-loan-application-its-verification-system
This slides helps you to understand the basics of online loan system & its verification. its requirement,s & the procedure it follows with different types of diagrams etc. (This slide is only for idea & its not 100% Accurate.)
For more this report helps you in detailed view of this project.
http://www.slideshare.net/SobanAhmad2/online-loan-application-its-verification-system
Solving a product challenge by mpokket. It contains detailed solutions and an analysis of why we need to do it.
mPokket provides small ticket short duration loans to college students via its mobile
app. There are currently 3 loan amounts - Rs 500, Rs 1000, Rs 2000 – available for
tenures of 1,2 and 3 months. The loan amount along with the principal is to be paid
back at the end of the tenure. mPokket assigns a credit limit to each user and at any
given time they can take one or more loans up to that limit.
mPokket is considering launching an EMI feature, where users can repay in monthly
installments. In this context please think about the following. Note that the thought
process and structure are the most important evaluation criteria.
1. Should mPokket introduce an EMI feature? What are the pros and cons vs. the
current offering?
2. What specific parameters (ticket size, tenure, etc.) do you propose for the EMI
feature?
3. Provides examples of the user journey
4. The current backend systems and analytics are built around the current bullet
repayment structure. What changes do you think introducing an EMI feature requires
in the backend systems?
5. What success metrics would you use to measure?
The First stage of Lending/Financial services is Known as Loan Origination process. The most important & critical stage in the complete Loan servicing. The Finance Industry is now shifting its focus on Customer engagement & Satisfaction with the elements of design & delivery that fulfills customers’ expectations first.
Policy Paper on Promoting Own Account Enterprises (OAEs) - Foundation for MSM...TheBambooLink
We are delighted that this unique Award Programme for “Responsible Indian BMOs” has now successfully entered its fifth year. This year is special, as with the support of the Office of Development Commissioner, Ministry of MSME, we have taken the Award Programme to a new height by organizing “Cluster Conclave and 5th BMO Award: Innovate to Lead”.
Solving a product challenge by mpokket. It contains detailed solutions and an analysis of why we need to do it.
mPokket provides small ticket short duration loans to college students via its mobile
app. There are currently 3 loan amounts - Rs 500, Rs 1000, Rs 2000 – available for
tenures of 1,2 and 3 months. The loan amount along with the principal is to be paid
back at the end of the tenure. mPokket assigns a credit limit to each user and at any
given time they can take one or more loans up to that limit.
mPokket is considering launching an EMI feature, where users can repay in monthly
installments. In this context please think about the following. Note that the thought
process and structure are the most important evaluation criteria.
1. Should mPokket introduce an EMI feature? What are the pros and cons vs. the
current offering?
2. What specific parameters (ticket size, tenure, etc.) do you propose for the EMI
feature?
3. Provides examples of the user journey
4. The current backend systems and analytics are built around the current bullet
repayment structure. What changes do you think introducing an EMI feature requires
in the backend systems?
5. What success metrics would you use to measure?
The First stage of Lending/Financial services is Known as Loan Origination process. The most important & critical stage in the complete Loan servicing. The Finance Industry is now shifting its focus on Customer engagement & Satisfaction with the elements of design & delivery that fulfills customers’ expectations first.
Policy Paper on Promoting Own Account Enterprises (OAEs) - Foundation for MSM...TheBambooLink
We are delighted that this unique Award Programme for “Responsible Indian BMOs” has now successfully entered its fifth year. This year is special, as with the support of the Office of Development Commissioner, Ministry of MSME, we have taken the Award Programme to a new height by organizing “Cluster Conclave and 5th BMO Award: Innovate to Lead”.
Policy Paper on Promoting Own Account Enterprises (OAEs) : Foundation for MSM...TheBambooLink
Micro, Small and Medium Enterprise (MSME) sector is a key player in generating employment and contributing to the India’s GDP and industrial output. There are 6.34 Crore enterprises in various industries, employing close to 11.1 Crore people.1 In all, the MSME sector accounts for 29 percent of India’s GDP and 40 percent of exports.
Unsolicited Contribution to Code of Conduct for Jamaican Banking SectorHelp Mi Consulting
This document is an addendum to a blog post by Help Mi Consulting "Guaranteed Standards for the Banking Sector?" which can be found here http://t.co/UK2hWQsTwT .
The article and presentation concerns matters of importance to the Jamaican public, the Bank of Jamaica (BOJ) the Consumer Affairs Commission , private consumer advocates and the wider banking industry.
WealthSecure, an industry leader in assisting professionals build an insurance based financial strategy for the wealthy, has teamed up with Harley Gordon, Esq. and the Certified in Long-Term Care (CLTC) program to introduce the CLTC-WealthSecure System, a one-stop solution that gives you the confidence and competence to present long-term care insurance to the wealthy and their advisors.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Chapter 3 - Islamic Banking Products and Services.pptx
60079068 case-study
1. Polytechnic University of the Philippines
Sta. Mesa, Manila
Minimizing Job Effort and Time in Refunding Premium
Philippine Prudential Life Insurance Company, Inc.
Credit Life Insurance Department
Submitted by:
Mercado, Monica Lucille Anne M. Mercado
BBF 3-10N
Submitted to:
Prof. Realin C. Aranza
Practicum Coordinator
May 20, 2011
2. 1. Presentation of the Case
The Philippine Prudential Life Insurance Company, Inc. (PPLIC) offers Credit Life
Insurance as one of its services. It is where the face amount matches the loan balance
of a bank borrower at any given time and is designed so that the loan will be paid off in
full in the event of death of the Insured/Borrower. Credit life insurance will, in the event
of your death, pay out the outstanding capital on a short or long term debt (such as on a
car or home) to your loan provider; is a decreasing sum assured product which means
that the pay out amount decreases in direct correlation to the repayment you make on
your loan; includes occupation-based disablement cover as well as dread disease
cover; is valid for the whole loan contract period or outstanding period (if you start the
life policy after you took your loan) or until a disablement, death or dread disease claim
is made and paid out; and covers you immediately.
The applicant must comply with the agreement of the company and the bank or
the lending institution. Some of these requirements are: minimum and maximum age
and maximum loan coverage. The company has developed a system where applicants’
personal information is transferred for future use. When the system does not accept an
applicant because he/she is underage, overage, or has exceeded the maximum
coverage, the individual and the institution must be informed that the application is
either unaccepted or terminated. The system has been developed to provide
computations and covering letters, but the employee in-charge still develops a separate
program and makes of the covering letters manually.
3. 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. Statement of the Problem
Although the employee is able to keep up with his objectives and
tasks, it is very time and effort consuming on his part since it is not the only
job assigned to him. Payment vouchers and checks are processed by the
accounting department before the premium is refunded to the applicant.
When the refund is approved by the accounting department, he makes letters
for the applicant and the institution. Because of the process and the time he
allots for making the letter and developing a separate system, it takes about
one week before the letter, together with the check for the refunded premium
remitted, to be sent to the bank or lending institution.
4. 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 employee’s
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. Alternative Courses of Action
On the part of the employee, instead of preparing letters manually, he
should use the system that has been developed to process the letters
automatically. Instead of developing a separate system, he should ask the
permission and assistance of the developer/s to add necessary data and to
make changes to the present system.
On the part of the institutions, since they have a record of the
information of the borrowers, (birth date and loan amount), they should have
the initiative to inform their borrowers that they did not meet the proper
5. requirements. It is also possible for them to obtain a copy of the system used
by the company to inform them at an earlier time about their borrowers.
VI. Analysis of the Courses of Action
The Information System Department may improve the system to
process the same outcome as what the employee produces. It can result to
the same output or even become more accurate than before. But due to the
different needs of different departments, they have many concerns that may
affect the outcome of the system.
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 multi-
purpose 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.
6. 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.
7. 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