Executive Summary

This report is a documentation presentation of the activities carried out at CPA FOR TWO MONTHS WITH THE MAIN OBJECTIVE OF BLENDING INSURANCE THEORY WITH PRACTICE. The main products offered by this insurance company are automobile (motor insurance), health, property, fire and all risk insurance.

I was practically involved in many activities like receiving clients and assisting them in filling their proposal form. I also assisted in creating and arranging files which served as a source of data for future references.

With commercial agents, I was able to do prospection in which i went to the streets and offices to convince and educate the prospective insured to take an insurance contract with CPA. With the director manager, i learnt the underwriting process and how to calculate premiums manually.

The main strength of the company was the fact that there had good, determined, punctual and relentless workers who always cooperated with each other.

It greatest setback was decision making especially when it concerns contracts of huge sum of money.in this case, to grant coverage the director manager

of the branch must have the confirmation of the Administrator General Manager of CPA who is always in Douala.

I recommend CPA make use of the computer to communicate quickly in order to ease the decision-making process.

In conclusion, it was a wonderful learning opportunity I really enjoyed having done my internship at CPA.

CHAPTER ONE

INTRODUCTION

1.1 Background Of The Study

An internship is an educative period that is scheduled to enrich and enlarge the skills and abilities of a student.it provides real world experience to those looking to explore or gain the relevant knowledge and skills required to enter into a particular career field.it also help undergraduates to determine if they have a genuine interest in the field.

1.2 Purpose Of Internship   

Work experience internship is an important element to professional development prior to HND award. There are mostly designed to enable students to achieve the following

1. For the approval of partial award for the preparation of HND
2. To test their interest in a particular career before permanent commitments are made
3. To develop skills in the application of theory to practical work situations.
4. To develop skills and techniques directly applicable to their careers.
5. To provide students the opportunity to develop attitudes conducive to effective interpersonal relationships
6. To acquire ethics of their profession

Some internships provides students with the opportunity to earn a salary while pursuing educational goals

To develop employment records that will enhance employability after studies

To provide students the opportunity to understand informal organizational interrelationships

It motivates students to continue their education.

1.3 Operational Definition Of Terms

Every field of work has its own terminologies which help to better understand the subject. some of strange words used in my field of study mentioned in my report are explained below;

AGENT; this is a person working on behalf of an insurance company

CARTE GRISSE; this is a document which shows detail information about a vehicle.

CARTE ROSE; this is a document which makes your insurance policy valid in all the CEMAC countries.

CIMA CODE; the statutory laws regulating insurance markets among countries members of CIMA.

CLIENT; This is any person who comes to insure any given risk or to buy an insurance policy.

DEDUCTIBLE; A clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount usually 10%.It can also be called franchise.

INDEMNITY: This is the amount of money spent by an insurance company to restore or compensate the damages incurred by the insured.

INSURANCE ATTESTATION OR CERTIFIICATE: It’s a hard copy of the insurance contract given to the insured by the insurer which proves that the insurance company is to cover particular risk for a given period of time.

INSURANCE COMPANY: These are professional companies in charge of undertaking risk from members of the public in return of premium.

PERIL: The immediate event to losses.

PREMIUM: It’s the amount of money paid by the insured to the insurer after underwriting the subject matter under insurance for the insurer to provide cover on his behalf.

PROPOSAL FORM: This is a document drafted by the company to be filled by the potential insured in other for him or her to disclose all the material fact needed by the insurer to access the risk.

PROSPECTION: This is an outdoor interpersonal sensitisation and marketing of insurance products.

TARRIFICATION: This is a method of calculating premium issued by ASAC in collaboration with the MINFI to determine the amount of premium to be paid for a particular policy for a specific period of time.

VISITE TECHNIQUE: Road worthiness. This is a document which proves that all the different parts of a vehicle has been checked, testifying their good functioning.

VIGNETTE: Wind screen license of vehicles. it is issued during the viste technique and only to screen of vehicles in good shape.

1.4 LIST OF ABBREAVATIONS

ACC: Accessories

ASAC: This is an abbreviation which means Association of Insurance Companies in Cameroon.

CEMAC: Economical and Monetary Communities of Central Africa States.

CIMA: Inter African Conference of Insurance Markets.

MINFI: Ministry of Finance