WORK INTEGRATED LEARNING EXPERIENCE

(Torrecampo FWD Life Insurance Corporation)

A Course Paper Presented to

Marichu B. Vicente, MBA

Business College

Notre Dame of Dadiangas University

General Santos City

In Partial Fulfillment of the

Requirement for the Course BBA 421

Work Integrated Learning Experience

(600 Hours Internship Training)

By

Mamaradlo, Christine Grace

May 2023
 Part 1

THE COMPANY

This part contains the company background and its organizational

structure. The company background discusses the main office and its various

branches, products offered, and number of personnel. The organizational

structure consists of organizational chart, duties and responsibilities, and

qualifications.

1.1 Company Background

FWD is the insurance business of the investment group Pacific Century

Group which was established in Asia in 2013. FWD is focused on making the

insurance journey simpler, faster, and smoother with innovative propositions and

easy-to-understand products supported by digital technology. FWD is committed

to changing how people feel about insurance through this customer-led

approach.

FWD Life Insurance Corporation (FWD Life Insurance) launched its

commercial operations in September 2014 here in the Philippines. As of the end

of end-2021, FWD Life Insurance ranks 3rd and 5th in terms of Paid-up Capital1

and Total Premium Income2, respectively.

FWD Group is a pan-Asian life insurance business with approximately 10

million customers across ten markets, including some of the fastest-growing

insurance markets in the world. FWD has 18 business hubs in key cities

nationwide in the Philippines, with its headquarters in Bonifacio Global City in

Taguig.
 FWD is different from any other insurance provider for four reasons. First,

customer-led insurance is made more straightforward, comprehensible, and

accessible to everyone. They want it to help look after the things that matter

most: health, family, and livelihood. The insurance policies they offer are

designed as to how people live their lives so they can get on with it. Second, they

are innovation-driven insurance and are doing more with technology. For buying

a policy swiftly to enable faster claims, FWD is investing in new digital technology

that empowers its customers or clients to take control of their insurance. Third,

people within the organization share a vision of changing how people feel about

insurance. FWD believes that people are more inspired to learn and

communicate when empowered. With this idea, teams show creative initiative at

every turn. Lastly, FWD is innovating with a cloud-first approach, creating

unrivaled benefits not only for businesses but for the millions across Asia who

are starting to build insurance into their lives.

1.1.1 Main Office & Branches

FWD Philippines, a member of the pan-Asian insurance company

FWD Group, has maintained its fast development with a notable double-

digit increase in both new business annual premium equivalent and total

premium revenue. Over 3,700 financial advisers work for FWD

Philippines, its main office in Taguig's Bonifacio Global City, and 18

business centers.
 Over 250 FWD Financial Solutions Consultants are present at

Security Bank's more than 300 branches across the Philippines due to

their highly successful strategic partnership with FWD Philippines.

Torrecampo FWD Life Insurance Corporation is one of the FWD

Office Branches in Mindanao. It started in 2019, when its first physical

office was located at Roxas Avenue, General Santos City, and was

transferred to its present office today, at the 2nd Floor JMP Building,

Osmeña Street, General Santos City.

1.1.2 Products

FWD Life Insurance (FWD) is breathing life back into the insurance

business by offering products that speak to the needs of different people

across different lifestyles. We are a new, different kind of insurance

company, with a technology-driven mindset and a vision to change the

way people feel about insurance. The company offers insurance products

such as life protection, health protection, and investments.

Under Life Protection, FWD offers policies such as:

● Set for Tomorrow-Term Life Insurance

● Set for Tomorrow- Estate Protector Life Insurance

● The One for Life

On the other hand, FWD Health Protection products included are:

● Vibrant Critical Illness Insurance

● Set for health Critical Illness Insurance

● Big 3 Critical Illness Insurance

 Aside from that FWD Life Insurance Corporation also offers

insurance with an investment, policies under this are:

● Manifest Investment- Linked Insurance

● Set for Life Investment- linked Insurance

● All Set/ All set Higher Investment-Linked Insurance

● Family Hero Investment- Linked Insurance

● Health Investment- Linked Insurance, Life Investment- Linked

Insurance

● All-In Protection Investment-Linked Insurance

1.1.3 Number of Personnel

Torrecampo FWD Life Insurance Corporation is one of the branch

offices of FWD Life Insurance Corporation in the Philippines. In Mindanao,

specifically in General Santos City, the team is called Mounteam Nebo,

managed by Mr. Michael L. Torrecampo. Under his management are forty-

five (45) Financial Wealth Officers, one (1) Associate Financial Wealth

Officer, and more than fifteen (17) Financial Wealth Planners. There are

sixty-three (63) personnel under FWD Mounteam Nebo. The Financial

Wealth Officers (FWO) have their respective team to be utilized and

mobilized in offering FWD products to their prospective clients.

1.2 Organizational Structure

The organizational structure shows the hierarchy of authority in the

company. It specifies how operations, regulations, duties, and obligations are

performed, also, how the information is relayed across the layers of the
organization. This structuring provides a company with a visual representation of

how it is shaped and how it can best move forward in achieving its goals.

1.2.1 Organizational chart

The organizational chart is an illustrative form of representing the

important areas of an organization which includes the major functions and

their respective roles, authority, and responsibilities. This indicates

positions and relationships as to one from the other. The Figure 1

presented displays the organizational structure of Torrecampo FWD Life

Insurance Corporation.

Figure 1. Organizational Chart

1.2.2 Duties and Responsibilities

 This component presents the functions and obligations the

personnel must fulfill for the company to offer a good quality service to

their prospective clients. In the insurance industry, the main tasks are

related to sales increment. The more sales one has acquired, the more

deals one has closed, and the higher its probability of promotion to a

higher position. The positions presented below are the title of personnel

present in Torrecampo FWD Life Insurance Corporation, along with their

duties and responsibilities.

Associate Financial Wealth Manager (AFWM)

In some insurance companies, an Associate Financial

Wealth Manager carries out the same duties as a branch manager.

They ensure that office duties are successfully finished on time and

that sales targets are fulfilled. Additionally, AFWM are in charge of

hiring, training, and managing workers, as well as gathering

customer feedback and tracking sales. AFWM needs to be great

leaders with good organizational capabilities. The following are the

responsibilities of an Associate Financial Wealth Manager:

● Train employees and evaluate their performances

● Create strategies to ensure that sales targets are met

● Prepare reports on sales

● Create and maintain relationships with clients

● Liaise with other branches to share strategies

Financial Wealth Officers (FWO)

 A Financial Wealth Officer provides clients with financial

services and guidance that will help them in their financial pursuits.

Relationship management, assisting clients with account

information, and giving recommendations on financial investments

are all duties of FWO. FWOs must also be confident in explaining

complicated facts and possess strong sales and negotiating

abilities. In the end, an FWO has a strong understanding of wealth

management, excellent presentation skills, and a grasp of client

relations strategies. The following are the responsibilities of a

Financial Wealth Officer:

● Giving clients financial product and service

recommendations

● On the client's behalf, buy and sell shares

● Investing management

● Doing planning tasks

● Providing assistance with tax preparation

● Offering assistance in estate planning

Associate Financial Wealth Officer (AFWO)

An Associate Financial Wealth Officer assists the Associate

Financial Wealth Manager and clients with investments and other

financial endeavors. They are responsible for client relations and

handling queries. In addition, AFWO is knowledgeable about

insurance products and investments and understands complex

financial information. The following are the responsibilities of an

Associate Financial Wealth Officer:

● In partnership with the wealth manager, research market

trends and aid with the formulation of investment plans.

● Managing client interactions on behalf of the wealth

manager.

● Assisting the wealth manager and our clients with goods and

services.

● Completing and submitting paperwork relating to

investments, such as withdrawal papers and application

forms.

● Daily administrative tasks, such as replying to emails and

requests from clients.

Financial Wealth Planners (FWP)

Financial Wealth Planners are in charge of managing a

portfolio of clients and locating sales prospects for insurance

policies. These specialists, who are also known as insurance sales

agents in some insurance companies, are in charge of determining

risk management techniques, managing policy renewals, and

managing claims. They will be in charge of keeping records,

creating payment systems, and allocating insurance funds. Our

ideal applicant will exhibit exceptional interpersonal and negotiating

 abilities in addition to having good communication skills. The

following are the responsibilities of a Financial Wealth Planner:

● Create payment mechanisms and dividend calculations.

● Create a cooperative connection with potential customers

you meet through a variety of channels, including

networking, cold calling, and recommendations.

● Distribute insurance payments upon the submission and

acceptance of a claim.

● Provide risk management advice tailored to the unique risk

profiles of your clients.

● Prepare and present management with thorough reports on

the status of your projects.

● Complete administrative duties such as managing policy

renewals and keeping records.

● Keep track of insurance claims to guarantee customer and

business satisfaction.

● To encourage the purchase of insurance policies, list the

benefits and drawbacks of various policies.

● Answer the inquiries and concerns of clients regarding

insurance.

1.2.3 Qualifications

Employees that execute successfully do tasks correctly and on

schedule. Employees who need more motivation to do their duties as

assigned might undermine the department as a whole. Recognizing high-

performing staff with incentives and praise in meetings and promoting a

joyful and supportive work atmosphere is crucial.

Management should establish operational and job-specific

qualifications. It is essential to have application assurance not only for the

benefit of new workers but also for current employees as they develop

proficiency and participate in increasingly complex jobs. This measure will

help ensure that the knowledge and skills of the person's claims align with

what the organization seeks to have.

The information presented below for each position contains specific

qualifications that fulfill the requirements for the particular job.

Associate Financial Wealth Manager (AFWM)

● Excellent organizational skills.

● Ability to strategize and plan ahead.

● Proficiency with Microsoft Office.

● Excellent verbal and written communication skills.

● A bachelor's degree in business management or a related

field.

Financial Wealth Officers

● Degree in management, economics, or a related discipline

● Prior financial services industry experience.

● Logical ability is required.

● Being able to comprehend complicated facts

 ● Good public speaking abilities.

Associate Financial Wealth Officer (AFWO)

● A degree in business administration, finance, economics, or

a similar subject.

● Analytical abilities.

● The capacity to comprehend and analyze complicated

financial and investment-related information.

● Thorough understanding of taxation, financial planning, and

investing.

● Excellent presentational abilities as well as advanced Excel

and PowerPoint expertise.

Financial Wealth Planners

● Degree from a bachelor's program in business, economics,

or a related subject.

● An occupation requiring at least three years' experience in

sales of insurance.

● Extensive familiarity with the various insurance plans,

including those for a car, a house, and a company.

● Excellent communication and bargaining abilities.

● Has a strong background in computers and statistical

analysis programs.

● Good communication abilities, both in writing and speaking.

 Part 2

PRE-WILE ACTIVITIES

This part comprises the activities designed for student interns, such as the

seminars and pieces of training attended before the deployment, mock job

interviews, medical/ dental check-up certificates, insurance available, and

parent's consent form.

The seminars are those activities, workshops, or webinars attended by the

student intern. It enables students to improve their knowledge and understanding

of the corporate world. This training and seminars prepare the students for

deployment or work-integrated exposures. Consequently, students also

experience the mock job interview, which serves as a training practice for an

applicant. It is a simulation of an actual job interview to prepare the student for a

real work interview in the company they apply to.

 Furthermore, there are still activities to ensure student interns' health and

safety. First, the medical and dental check-up assesses the student's health and

whether the student is fit to work, and another test provides that the students are

capable of doing the tasks, duties, and obligations of the industry they are

assigned. Life is uncertain, and no one can predict what will happen tomorrow.

With that, students are asked to comply with insurance that will help them with

their financial expenses at the time of unforeseen events that cause them harm

and illness. Lastly, since students are out of the school premises, their parent's

consent about the WILE are highly encouraged. It gives the parents some

information about what their child is undergoing relating to the work exposure.

2.1

Seminars
 2.2

Mock Job Interview

Result
 2.3

Medical and Dental

Check up
 2.4

Insurance
 2.5

Parent’s Consent