2016

DECLARATION
I hereby declare that this report is written by ASUE ESELEM VALENCE
(SM14A416) in the accumulation of relevant public materials provided by
ZENITHE INSURANCE PLC. LIMBE, all other information gotten from other
sources used in this report have been referenced.

i
 CERTIFICATION
This report of ASUE ESELEM VALENCE with registration number (SM14A416)
submitted to the Department of Economics and Management, Faculty of Social and
Management Sciences of the University of Buea in partial fulfillment of the
requirements for the award of a Bachelors of Science degree

(BSc) in Banking and Finance.

ii
 DEDICATION

I dedicate this report to Ma. Comfort Etoki.

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 ACKNOWLEDGEMENTS
The outcome of this report has been as a result of positive contributions from a lot of
people. First, sincere gratitude goes to my entire family especially to my mum, Ma.
Delphine, to my sister, Ma. Comfort, and to my bro, Edwin for their endless moral
and financial support to enable me achieve this report.

Inaddtion, special acknowledgements goes to my internship field supervisor the Desk

Manager of Zenithe Insurance Limbe Ms. Chia Joan Throughout the internship
program she has been the most disciplined supervisor, while also providing me with
valuable advices, guidance and necessary information.

Further thanks goes to the Department of Economics and Management at the

University of Buea. Most especially the Head of Department Professor C.S Molem
on his contribution in the basics of being a researcher and gave me the direction in
writing this report.

Furthermore, deepest appreciation goes to Mr. Ngong Gerald the Head of Marketing
at Zenithe Insurance Limbe, for extending his support in providing vital expert
information which aided me in compiling this report. I would specially like to thank
Ms Victorine Bih and Ms Enow Joseberry who helped me a lot during my
Internship days with the necessary information.

Nevertheless, final credits go to the working environment and group commitment of

Zenithe Insurance Limbe that has enabled me a lot to do and observe the insurance
activities during my five weeks internship period. Finally, I convey my sincere thanks
to my friends for their inspirations.

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 EXECUTIVE SUMMARY
The primary purpose of this report is to present the work done by the intern at Zenithe
Insurance Plc. Limbe Branch and more specifically the operations of the automobile
insurance department of Zenithe Insurance. This report also brings out the aspects
and the processes of automobile insurance policy subscription whilst

providing real scenario of automobile insurance subscription in Cameroon. In

conducting this report both primary and secondary data were used. A descriptive
technique was adopted to assess the processes in underwriting an automobile
insurance contract and to provide an analysis of Zenithe. I foun d out that there is a
huge time lag in handling claims at Zenithe. I therefore recomme nded that, Zenithe
Insurance Plc. should decentralize some of its key operations to the Zenithe branch
office Limbe especially in the area of handling claims.

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 LIST OF ABBREVIATIONS
SA: Société Anonyme

PLC: Public Limited Company

CIMA: Inter-African Conference on Insurance Market

MINEFI: Ministry of Economy and Finance

ISO: International Standard Organization

CC: Cubic Capacity

CV: Horse Power

ASAC: Association of Insurance Companies of Cameroon

VAT: Value Added Tax

ACC: Accessories

FC: Fishier ASAC

SWOT: Strength Weakness Opportunity and Threat

Pool TPV: Insurance Pool for Public Transport Travelers

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 TABLE OF CONTENT
DECLARATION ...................................................................................................... i

CERTIFICATION ................................................................................................... ii

DEDICATION ........................................................................................................ iii

AKNOWLEDGEMENTS ....................................................................................... iv

EXECUTIVE SUMMARY ...................................................................................... v

LIST OF ABBREVIATIONS ................................................................................. vi

CHAPTER ONE

INTRODUCTION

1.1 Background of Internship .................................................................................... 1

1.2 Significance of Internship .................................................................................... 2

1.2.1 Significance of the Internship to the Intern ...................................................... 2

1.2.2 Significance of Intern to the Employer ............................................................. 3

1.2.3 Significance of Internship to the University of Buea ....................................... 4

1.3 Aims and Objectives of Internship ...................................................................... 5

1.3.1 Aims of the Internship ...................................................................................... 5

1.3.2 Objective of the Internship ................................................................................ 5

1.4 Limitations of Internship ...................................................................................... 6

1.5 Delimitation of the Internship .............................................................................. 6

1.6 Methods of Data Collection ................................................................................. 7

1.7 Definition of Some Insurance Terms Used in the Report.................................... 7

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 CHAPTER TWO
ORGANIZATION PROFILE

2.1 Company Background ......................................................................................... 9

2.2 Mission and Objectives ......................................................................................10

2.3 Product Profile ...................................................................................................10

2.3.1 Products and Services offered .........................................................................11

2.3.1.1 Automobile Insurance ..................................................................................11

2.3.1.2 Health Insurance ..........................................................................................11

2.3.1.3 Household Liability .....................................................................................12

2.3.1.4 Professional Liability ...................................................................................12

2.3.1.5 Insurance Surety Bond .................................................................................12

2.3.1.6 Travel Insurance ...........................................................................................12

2.3.1.6 Online Insurance ..........................................................................................13

2.4 Management Profile ...........................................................................................13

2.4.1 Desk Manager .................................................................................................13

2.4.2 Commercial Attaché / Marketer......................................................................14

2.4.3 Cashier / Producer ...........................................................................................14

2.4.4 Customer Service ............................................................................................14

2.4.5 Commercial Agent ..........................................................................................15

2.6 Organization Structure .......................................................................................15

2.7 Problems faced by Zenithe Insurance Limbe ....................................................15

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 CHAPTER THREE

INTERNSHIP EXPERIENCE

3.1 My Work schedule At Zenithe Insurance Limbe ..............................................17

3.2 Preparations for the Internship ...........................................................................17

3.3 Activities and Tasks ...........................................................................................18

3.4 My Challenges ...................................................................................................19

CHAPTER FOUR

FOCUS AREA

4.1 Automobile Insurance ........................................................................................20

4.1.1 Types of Automobile Insurance Cover ...........................................................20

4.1.1.1 Bodily Injury Liability .................................................................................20

4.1.1.2 Medical Payments ........................................................................................21

4.1.1.3 Collision Auto Insurance coverage ..............................................................21

4.1.1.4 Comprehensive Insurance Cover .................................................................21

4.1.1.5 Uninsured Motorist ......................................................................................21

4.2 Subscription of Automobile Insurance ..............................................................22

4.2.1 Factoring Key Aspects of Underwriting an Automobile Insurance Policy ....22

4.2.1.1 Vehicle Category .........................................................................................22

4.2.1.3 Specifications of the Vehicle .......................................................................24

4.3 Automobile Insurance Subscription Process .....................................................25

4.3.1 Customer Orientation ......................................................................................25

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4.3.2 Underwriting a Contract .................................................................................25

4.3.2.1 Particulars Relevant to Automobile Subscription........................................26

4.3.3 Risk Covered by Compulsory Automobile Insurance ....................................26

4.3.4 Properties of a policy ......................................................................................27

4.3.5 Calculation of Vehicle Premium .....................................................................28

4.3.5.1 Formula for calculating premium ................................................................28

4.3.5.2 Practical Scenario .........................................................................................29

4.3.6 Policy Renewal ...............................................................................................30

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4.3.7 Declaration ......................................................................................................30

4.3.8 Claims and Indemnification ............................................................................31

CHAPTER FIVE

SUMMARY OF ANALYSES, RECOMMENDATIONS AND CONCLUSION

5.1 Summary of Major Findings ..............................................................................33

5.2 SWOT Analysis of Zenithe Insurance Limbe ...................................................33

References ...............................................................................................................36

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 CHAPTER ONE

INTRODUCTION

1.1 Background of Internship

Internship (industrial training) an educative period which is scheduled to increase
skills and abilities of students, and to find out if a specific field is where one could
picture his/her doing as a fulltime job. However, as a student of Bachelor of Science
(BSc) in Banking and Finance I am obliged to carry out industrial training
(internship) in any organization to fulfill the requirements of a BSc degree. The main
purpose of the program is to expose the students to the real world situation. This
report is prepared for the internship program consisting of a major in depth study of
insurance operations at Zenithe Insurance Limbe Branch Office. However, the
insurance industry comprises companies and people who develop insurance policies,
and sell, administrate, and regulate them. Moreover, the history of insurance
consisted of the development of the modern business of insurance against risks,
especially regarding cargo, property, death, automobile accidents, and medical
treatment (Wikipedia, 2016). The modern insurance evolved to become more
sophisticated in the early decades of the 17th century in London in the wake of
successful insurance venture companies which lead to the modern day growth of
business insurance as we know it. Consequently, we can move further to define
insurance as a contract for risk transfer where one party pays the other for the transfer
of the risk.
On the hand, practical knowledge is fundamental for the application of theoretical
intelligence. Bearing this in mind my five weeks internship program at Zenithe
Insurance had to be based on specific insurance operation and service which is
automobile insurance. With the current increase in automobile ownership in
Cameroon, Cameroonian car owners are expected to always discipline themselves
1
 by making sure they do not go day without their car insurance policy. Hence,
automobile insurance is under compulsion by Law in most parts of Cameroon. This
field of studies seems to find out the subscription of an automobile insurance policy
in Cameroon with an analysis of Zenithe Insurance PLC Limbe. One may also say
that this report tends to bring forth a study on Zenithe Insurance Limbe with regards
to the processes in the subscription of an automobile insurance policy in Cameroon.

1.2 Significance of Internship

Students planning to enter the permanent work force should complement their
academic preparation with a range of other experiences, such as undergraduate
research experiences and internships. Internship is significant to the student (intern),
employer and the university. While the student gain more from the firm. The
significance of internship is shared by both the firm, the student and the university
while at the same time, aiding the student to accomplish certain skills in the field
thereby enhancing academic excellence. Some of the significance that the intern got
from the firm (Zenithe Insurance SA Limbe) is as follows:

1.2.1 Significance of the Internship to the Intern

First, this internship offered the intern the chance to learn by doing in a setting where
he is supervised by a work-place professional, and have the opportunity to achieve
his own learning goals, without the responsibilities of being a permanent employee
as well as also offering the intern opportunity to work with person who can become
a mentors for you - not only in the internship, but in a career aspect. Furthermore,
this internship was significant in the aspects of career exploration in terms of learn
about a career field from the inside and decide if this is the right career field for the
intern, working alongside a professional in the chosen career area or field, and
observing the work place to see if it matches expectations.
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Moreover, Principles of Insurance and Insurance Practice was one of the intern’s
major courses in the University prior to this internship, thus enabling the intern to
incorporate theory and industrial training. In addition, leadership and skill
development play a significant role in internship on the intern’s on part and these
skills were gained by the intern throughout the course of the internship program in
terms of learning new skills and adding to the intern’s knowledge base while gaining
confidence in his abilities and likewise the opportunity to practice communication
and teamwork skills and gain industry knowledge first hand from an organization
and professionals. Moreover, the internship program helped the intern to enhance his
resume in terms of gaining valuable experience and accomplishments to add to his
curriculum vitae. Lastly, internship experience aided the intern in terms of
networking and establishing Mentors and references. In other words, meeting new
people and practice networking skills while establishing a network of professional
contacts, mentors, and references

1.2.2 Significance of Intern to the Employer

For employers, student interns provide key benefits, including the provision of
having a year round source of highly motivated pre-professionals to the organization
to assist with special events and short-term projects, offer possible fresh ideas and
new perspectives, and can be a cost-effective solution for shortterm projects.
However, for Zenithe Insurance SA Limbe having an internship program provides a
community service element by primarily assisting students and colleges/universities
meet their goals as it contributes expertise to the educational enterprise; and
provides the valuable career related experience that students need and want before
they graduate. Further, the internship program allows Zenithe Insurance to utilize a
cost-effect way to fill short-term needs, especially during low staffing periods.
Interns can help when the need arises for a special project or when the Zenithe

3
Insurance Limbe needs temporary assistance due to staffing shortages, especially
during summer vacation months. Moreover, the employers have the opportunity to
pre-screen prospective employees before committing to them for permanent
positions. They will also have an advantage over other companies in hiring the most
qualified student if that student has already worked as an intern in the organization
and feels comfortable there, likewise having the satisfaction in knowing that they
helped contribute to a student's future job growth by giving them an opportunity that
will be invaluable as they pursue their career path and allow them to bring real world
experience to the classroom. Finally, internship program creates a relationship
between Zenithe Insurance and the University of Buea Faculty of Social
Management Sciences for future projects and networking opportunities

1.2.3 Significance of Internship to the University of Buea

Industrial training (internship) can serve the following importance to the University
of Buea. First, it enables the university to really know whether the students do master
what is taught in class. Secondly, internship programs help the University to also
recommend other upcoming students to that institution, while at the same time
maintaining a good relationship with the firm. Furthermore, it serves as a source of
employment after graduating from the university, the intern might get recruited by
the institution that they did their internship with. Internship helps in retention after
graduation. To add, Internship programs strengthens the students’ ties with the
university when the experience is facilitated by the department. Moreover, internship
provides an opportunity for the University of Buea to relate academic training to job
requirements.

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1.3 Aims and Objectives of Internship

1.3.1 Aims of the Internship

• The aim of this internship work was to put in to practice the basic knowledge
which the intern had learned during the course of the programme in Banking and
Finance.

• To expand my knowledge on how insurance works in the real world situation and
also to demonstrate the ability to adopt a professional role from the environment
and the people I worked with.

• To fulfill part of the requirement for a Bachelor of Science (BSc) degree in

Banking and Finance at the University of Buea. Field studies/ experience is one
of the major courses which makes up the complete curriculum for a full fledge
BSc degree in this programme and it has been designated for the 4th semester
according to the university.

1.3.2 Objective of the Internship

• To understand the functional and operational aspects of insurance and its
importance.

• To get an idea about the Sales and Underwriting activities of Zenithe Insurance
Limbe relative to automobile insurance while providing an analysis of the
company.
• To assess the processes of subscription of an automobile insurance policy. Lastly,
to diagnose some problem faced on the fields and provide suggestions for
improvement.

5
1.4 Limitations of Internship
Although from the interns perspective the benefits of this internship program at
Zenithe Insurance far out ways the drawbacks, still some important limitations
where taken into account by the intern. First, the intern had placement problems in
the beginning when searching for a firm to carry to internship. Secondly, pecuniary
aspects lack of finances hindered the internship experience, given that interns are
sometimes placed in areas far from their residence which demands heavy transport
cost. Furthermore, most legal documents like the CIMA Code for automobile
insurance where only available in French, meaning some vital points got lost in
translation. Lastly, the intern was denied access to certain vital organizational
information for instance operations at the teller, which they say is for security
purposes.

1.5 Delimitation of the Internship

Relative to one of the primary operations of Zenithe Insurance Limbe, the scope of
the study is limited Automobile Insurance only. The report will cover the functions
of different departments of Zenithe Insurance Limbe like Underwriting, Sales and
Customer Satisfaction. It will also present a brief overall look at Zenithe Insurance
PLC in total. In other words, the domain of this internship report primarily covered
production of an automobile insurance policy and Customer Service. Finally, the
report provided an analytical view on a real scenario of an automobile insurance
policy subscription with the documents related to it, and this will be the special focus
of my report.
1.6 Methods of Data Collection
In achieving the objective of the internship, the intern collected the related data both
from primary & secondary sources to produce this internship report. First, Primary
data was collected from: Daily diary (containing my activities of practical orientation
in Zenithe Insurance Limbe), interviewing and interacting with key personnel and
6
clients of Zenithe Insurance Limbe, observing different organizational activities,
periodic conversations with my field supervisor, and practical insurance work. On
the other hand, secondary data was collected from; different papers and various
records of Zenithe Insurance, unpublished data, website of Zenithe Insurance PLC,
newsletters on Automobile Insurance, and journal reviews.

1.7 Definition of Some Insurance Terms Used in the Report

Insurer: This is an insurance company that issues a particular insurance policy to an
insured. In this case, Zenithe Insurance is an Insurer.

Insured: This is the entity or property covered under an insurance policy whose
interests are protected under the policy.

Insurance Policy: this is a formal contract-document issued by an insurer to the

insured. This document sets out the terms and conditions of an insurance cover.

Underwriting: This is simply a process of evaluating a risk to assume the liability

for specified future events and to match the risk with the appropriate rate of premium.

Loss: This is the reduction in value of an insured property or the result of an

alteration of the subject matter of insurance

Liability: A claim upon one’s assets by another person.

Risk: This is simply a discrete, specific occurrence that might negatively affect an
insured or property

Premium: the financial cost of obtaining an insurance cover, paid as a lump sum or
in installments during the duration of the policy.

7
Indemnity: this is simply compensation of loss by the insured. This means the
insurer puts the insured back in the same financial position he or she was before the
loss. It is important to note that indemnification is not to enrich the insured but to
put at the previous situation he was in before the loss.

Third-party: This is someone who might be directly involved but is not a principal
party to an insurance cover.

Litigation: This simply means to go to court.

Comprehensive Cover: This is the widest form of auto insurance protection that (in
case of collision, fire or theft) covers the Insured driver and Vehicle, third-party
driver and Vehicle and third-party property.

Reinsurance: Reinsurance is a form of insurance whereby an insurance company

can transfer to another all or part of its liabilities in respect of claims arising under
the contracts of insurance that it writes.

Cede: Reinsure

Ceding Company: An insurer who purchases and is entitled to indemnification

under a contract of reinsurance. (Also known as reinsured)

Arbitration: A way of settling disputes without going to court.

8
 CHAPTER TWO

ORGANIZATION PROFILE

2.1 Company Background

Zenithe Insurance PLC Cameroon is a non-life insurance and reinsurance company,
created in 2005 by private Cameroonian investors who sought to contribute in the
future economic development of Cameroon. Zenithe became full fledge insurance
company in 2006 under the approval of the Inter-African Conference on Insurance
Markets (CIMA) and the Ministry of Finance (MINEFI). This approval gave Zenithe
the authorization to carryout insurance operations in the branches of property and
casualty insurance. However, Zenithe Insurance Limbe Branch was established 2008
with its primary operations being Sales and Underwriting. Furthermore, the
company's share capital initially at FCFA 500 million at the start of activities has
significantly grown to FCFA 1.5 billion and with a wide variety of products ranging
from traditional to core products which include; Zenithe insurance Construction and
Engineering, Zenithe Auto Prestige, Family Welfare, Zenithe Pro, Zenithe Air
Ambulance as well as Credit Surety bonds. However, in over ten years, Zenithe
Insurance have achieved a combined turnover of almost 33 billion CFCA which thus
demonstrates the great confidence instilled in her services her our customers. Over
the same period, the total claims paid amount to 15 billion CFA. More again,
Zenithe’s contribution to the national economy in various assets and income tax is
around 12 billion FCFA excluding wages and other benefits to staff. The company
is very demanding on the profile of employees with a workforce currently consisting
of 94 employees including about 35% senior staff. Since the inception of Zenithe
Insurance PLC, its quality approach has been a major pillar in its development
including the renewal of its multi-site certification to ISO 9001-2015 and referral to
the ISO 26000 and 27000 standards. This certification expresses the lengths Zenithe
9
goes through in other to provide its customers with dedicated services reflecting the
highest international standards (Zenitheinsurance.com, 2016).

In addition, in terms of territorial coverage Zenithe Insurance is represented in all

the 10 regions of Cameroon via the presence of 15 desk offices and 08 general
agents. This direct network is also complemented by a partnership with strictly
selected brokers. The interconnection of the network to the head office through VPN
is put in place to ensure the reliability and promptness of operations to our customers.
With its head office located Douala - Rue Koumassi, Zenithe while the Zenithe
Insurance Limbe Branch Office is located precisely beside the local popularly known
Rainbow Chemist, 100 meters West from Half-Mile Limbe.

2.2 Mission and Objectives

Zenithe Insurance follows a quality approached strategy and has developed a mission
of anticipating customer expectations in order to prevent risk of whatever nature and
implement actions to avoid them. Innovation also plays a role their mission to better
understand customers and partner’s requirement so as to create products that is
tailored towards customer needs. This quality approach also revolves round the
objectives of continuous satisfaction of customers, shareholders, staff and partners
and continuous quest for improvement to ensure cost effectiveness, taking into
consideration its socio-economic environment.

2.3 Product Profile

Zenithe Insurance provides a wide range of services and guarantees which
incorporates basic perils an average individual or entity might encounter. They
include: Health insurance, school insurance, automobile, travel, construction,
accident, fire, insurance on machineries and office materials as well coverage on

10
accidents at work, home insurance, maritime insurance, transported goods, theft,
liability, damages on machinery. To add, Zenithe Insurance is also taking a step in
creating an E-insurance platform where customers can subscribe policies online,
though it has not been properly developed yet.

2.3.1 Products and Services

2.3.1.1 Automobile Insurance

Automobile insurance is a policy purchased by vehicle owners to mitigate costs
associated with getting into an auto accident. Instead of paying out of pocket for auto
accidents, people pay annual premiums to an auto insurance company; the company
then pays all or most of the costs associated with an auto accident or other vehicle
damage (investopedia, 2016). Zenithe Insurance Plc. offers the following coverage
under automobile insurance; Comprehensive (all risks), thirdparty collision, simple
third-party or complete, repair assistance, emergency advances.

2.3.1.2 Health Insurance

Health insurance is a type of insurance coverage that pays for medical and surgical
expenses incurred by the insured. Health insurance can reimburse the insured for
expenses incurred from illness or injury, or pay the care provider directly. It is often
included in employer benefit packages as a means of enticing quality employees
(Investopedia, 2016). ZENITHE Insurance proposes two systems new: the system
pre-financed by you and refunds your expenses in fifteen (15) days and the third-
party payment system: we take care of all expenses exposed to your needs in the
contracted centers

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2.3.1.3 Household Liability
Home insurance is a form of property insurance that Zenithe covers losses and
damages to an individual's house and to assets in the home. Homeowner’s insurance
also provides liability coverage against accidents in the home or on the property
(investopedia, 2016).

2.3.1.4 Professional Liability

This is simply insurance coverage that protects professionals such as accountants,
lawyers and physicians against negligence and other claims initiated by their clients.
It is required by professionals who have expertise in a specific area because general
liability insurance policies do not offer protection against claims arising out of
business or professional practices such as negligence, malpractice or
misrepresentation.

2.3.1.5 Insurance Surety Bond

The insurance surety bond is a contract that Zenithe offers whereby the guarantor
undertakes to the creditor who accepts to perform the debtor's obligation if the latter
fails to do so. Suppliers of the state involved in public procurement are obliged to
guarantee production of several types; Bid bond, Deposit of advance payment,
Completion bond, Money retention bond, and Customs and Export credits bonds.

2.3.1.6 Travel Insurance

An insurance product designed to cover the costs and losses, and reduce the risk
associated with, unexpected events you might incur while traveling. It's often pitched
as the best protection for those traveling domestically or abroad. Many online
companies selling airplane tickets or travel packages allow consumers to purchase
travel insurance (also known as travelers insurance) as an added service. Some travel
12
insurance policies cover damage to personal property; rented equipment, such as
rental cars; or even the cost of paying a ransom in the case of a kidnapping.

2.3.1.6 Online Insurance

Zenithe Insurance Plc. manages an online platform on its official website where her
customers can subscribe and get a price quotation. This platform is also used for
various customer service.

Furthermore, some other services offered by Zenithe Insurance Plc. Includes the
following; Maritime insurance, Air transport insurance, Group healthcare insurance,
and School liability.

2.4 Management Profile

The management profile in this report is based around the structure and function of
Zenithe Insurance Limbe branch office only. For general management profile
organogram see appendix.

The organizational structure of Zenithe Insurance Limbe branch office consist of the
following job positions; Manager, Attaché Commercial, Producer/Cashier,
Customer Service and Commercial Agents.

2.4.1 Desk Manager

The manager of Zenithe Insurance Limbe is primarily charge with overseeing the
operations of the branch office. Also known as the sales manager or desk manager,
her job description ranges from signing every single insurance contract made in her
bureau, to representing the branch infront of local authorities. The manager is also
the main prospector charged with marketing the company’s products to major sales

13
leads. Apart from the manager’s main job descriptions, she is also the field
supervisor of interns.

2.4.2 Commercial Attaché / Marketer

This is a specialist charged with marketing in order to increase the company’s
portfolio at the branch level. He is tasked with vital commercial aspect of the branch
and also in charge of producing regular commercial reports and commercial budgets
for particular term periods. He provides technical advice and training to subordinates
while also directly assisting the desk manager.

2.4.3 Cashier / Producer

Also known as the Underwriter, the producer is primarily charge with evaluating
insurance proposals to assess the degree of risk and determining the amount of
premium in order to come up with an insurance policy. As the Cashier, she is in
charge of all financial transactions including record keeping like, banking, petty cash
and others. She also acts as the manager’s secretary.

2.4.4 Customer Service

The job description of customer service loosely falls on all personnel under the
branch office. Thus, customer service under Zenithe Insurance Limbe entails getting
every information relating to the subject matter of insurance. It also includes
personal customer orientation on the various guarantees offered by Zenithe and most
importantly creating sustainable relationship with clients from a personal level.
Zenithe’s customer service comes in broad range of platforms like, face-to-face
orientation, mobile phone services and online via the official Zenithe Insurance
website.

14
2.4.5 Commercial Agent
Particularly charged with prospecting various sales leads so as to increase the
portfolio of the branch. They can be as many possible commercial agents but they
are not necessarily contractual.

2.6 Organization Structure

Below is an abstract sketch of the organogram of Zenithe Insurance Limbe. This
chart represents the decision flow within the company at the branch level. See
appendix for Organizational Chart.

2.7 Problems faced by Zenithe Insurance Limbe

Zenithe Insurance PLC has been at the apex amongst private insurance companies
in Cameroon.

On the other hand, from my practical observation there are some weaknesses in the
operations of Zenithe Insurance Limbe which are mentioned below;

Centralized System of Operation: Zenithe Insurance PLC operates in a

nondecentralized manner in terms of some technical insurance aspects. For example,
the process of assessing customer claims. The claims handling department of Zenithe
is only at the level of the head office in Douala. This interns dilates the process of
customer compensation in terms of time.

Lack of Autonomy: The Zenithe branch in Limbe solely focuses on sales and
underwriting and lacks autonomy in other technical issues of insurance. This sole
focus on sales creates loopholes in terms of how the branch office provides customer
services. This is because there is a limit to what the branch office can do at its level
in terms of handling claims and other customer complaints.

15
Lack of Proper Division of Labor: There is lack of division of labor in the branch
office in terms of handling some specific job descriptions. Thus if one personnel is
absent in the bureau, for example the Producer/Cashier, then extra burden will fall
to another. This decreases the level of performance of the personnel, though it
reduces monotonousness. But lack of division of labor hampers the discipline of
working environment. So customers have to wait for some time for the desired
service, which is contrary to the Zenithe’s quality policy.

Unsatisfactory Software Performance: Zenithe Insurance use ORASS software

for performing its insurance operations. But the software often underperforms due
to poor internet connection from the internet service provider. Therefore there are
often delays at times which literally slows down productivity.

Absence of proper Office Layout and Office Ergonomics: From practical

observations majority of customer complaints tends to revolve around the customer
unfriendly layout of the branch office. The impracticality of the office space layout
can be seen on a daily basis where customers will walk in and they are unaware of
which desk to go to.

Lack of Specific Job Description for Internee: Zenithe Insurance Limbe does not
offer specific task for their internee. Therefore interns do not get any chance to learn
in-depth about the technical operations and other aspects of insurance by doing
practical task. This personally is a main cause for concern because, most of the time
the only way an intern could get information is through questions. This is practically
unproductive at times because vital information cannot be gotten due to little field
knowledge on the interns own part. It is not possible for any intern to learn insurance
activities by getting few lectures from specific personnel, rather if they involve them
to some specific activities it would be easy for them to learn more and feel confident
to perform any task properly.

16
 CHAPTER THREE

INTERNSHIP EXPERIENCE

3.1 My Work schedule At Zenithe Insurance Limbe

I started study on the 08th of August 2016 and ended on the 08th of September. This
section of my internship experience will be presented in three parts. The first part
deals with how I got myself prepared for work at Zenithe Insurance Limbe, the
second part deals with my activities at Zenithe and the last section will simply be on
the challenges I faced at Zenithe Insurance Limbe.

3.2 Preparations for the Internship

It has always been my interest to work in an institution which is at the forefront of
the market. Zenithe Insurance is an institution at the apex of the insurance market in
Cameroon and an ideal platform for any potential intern enthused about insurance
operations. Although an insurance company was not my first nor second choice in
terms of where I wanted to carry out my internship program, and also due to the fact
that as a Banking and Finance student I had just basic knowledge of insurance. But
after taken a transverse look at Zenithe and its good reputation, I decided to apply
for my internship within the institution because it works in line with my degree
program in Banking and Finance at the University of Buea. After I got a positive
response from the manager of Zenithe Insurance Limbe to carry out my internship,
my next step was to get the necessary formalities and also build up questions to better
attain the knowledge and experience in the field.

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3.3 Activities and Tasks
This report has been prepared on the basis of experience gathered during the period
of internship. Within this time period I worked closely with the manager and other
key personnel of Zenithe Insurance Limbe. Zenithe Limbe does not follow any
guideline or fixed any responsibilities for interns. Mainly I have done many pending
tasks that are related to Insurance and Automobile insurance subscription. My
immediate supervisor and her colleges tried to give me a brief description of their
routine tasks before deploying me to any specific task. Later on through my personal
observation and the guidance of my superiors, I was able to understand the basic
dynamics of automobile insurance and insurance operations as a whole.

Most of my daily activities are outlined as follows:

Filing of insurance contracts: It is obligatory that every customer has his/her

unique folder archived with the contracts and contract renewals pertaining to the
subject matter of insurance. Filing customer information act as a referral. More so,
production details are also filed. Filing was one of my prominent task at Zenithe.
Recording daily transactions in the Production register: This is another tasks
.which I got to do almost daily. It entails a manual process of filling the production
booklet with the daily policies made with the computer system. The information the
production register will now act as an archive.

Filling of client declaration form: In the event of a loss automobile insurance

subscribers are to report or declare the loss by first filling a declaration form. My
task here was too fill the declaration form with the relevant information from the
driver’s documents and also a first-hand illustration on how the loss occurred.
Registering of mails in the mail register: Periodic mails comes in and I register
them manually in the mail register.

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Auxiliary role at the reception: The interns’ desk at Zenithe is practically the same
as the reception desk. Hence, I took the role as the receptionist directing customer
how to gain access in different parts of the office.

Errands: I occasionally did some errands for the office including, purchases, errands
for the personnel and other specific tasks that needed commuting. Orientating
another intern: I had the opportunity of orientating an incoming intern during my
last days at Zenithe Insurance Limbe. Used the photocopy/printing machine for
required purpose.

3.4 My Challenges
My internship experience was not as challenging as I’d hope it will be. Though there
were moments of difficulties and disappointments. As I had previously mentioned
under the problems faced by Zenithe Insurance Limbe, I faced some difficulties
getting precise information from some of my superiors at Zenithe, maybe due to lack
of mutual communication or company policies. Most these information which I
couldn’t get was based around statistical figures on customer turnout during
particular periods. Secondly, as an intern I didn’t have a designated job description
with made me unproductive at times, and thus boredom. Lastly, I carried out my
internship during the rainy season. The daily commuting from Wotutu village where
I lived to Limbe some 10 kilometers approximately was also another hurdle simply
because I had to take two different modes transport daily (motor bike and Taxi).

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 CHAPTER FOUR

FOCUS AREA

4.1 Automobile Insurance

In the course of my internship I specialized in studying the nature of automobile
insurance department. It is worth nothing that automobile insurance underwriting is
one of the primary activities of Zenithe Insurance Limbe. By definition, automobile
insurance is basically a contract in which an insurer assumes financial responsibility
for any loss the insured incurs through damage or theft of his/her vehicle
(Zenitheinsurance.com, 2016). Usually, the insurance policy extends to provide
financial coverage for the insured or other victims in the case of injury, permanent
disability or death caused by an accident.

4.1.1 Types of Automobile Insurance Cover

Automobile insurance is compulsory in most part of Cameroon and sometimes
described as a necessary evil. This is so because if one pays cash for a vehicle and is
the most cautions of drivers, he or she is still at great financial risk for driving an
uninsured vehicle (Zenitheinsurance.com, 2016). Furthermore, according to
CarInsuranceQuotes.com (2016) the following are the types of automobile insurance
coverage in Cameroon:

4.1.1.1 Bodily Injury Liability

This primarily covers personal injury as a result of a motor accident, rehabilitation,
lost earnings, replacement of services, and funeral expenses.

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4.1.1.2 Medical Payments
It pays reasonable and necessary medical and funeral expenses for covered persons
or the insured or his third party.

4.1.1.3 Collision Auto Insurance coverage

This auto insurance coverage helps pay for damage to a covered vehicle. That is, in
a case of collision with another vehicle, collision with an object or a vehicle rollover.

4.1.1.4 Comprehensive Insurance Cover

Comprehensive insurance is an insurance policy covering a wide variety of possible
losses. This is general insurance cover that encompasses every risks that the vehicle
or the insured can encounter under his policy for example; Fire, Wind, Hail, Flood,
Vandalism, Theft, Hitting an animal.

4.1.1.5 Uninsured Motorist

This auto insurance coverage pays for damages when a covered person is injured in
an auto accident caused by a driver who does not have Liability Insurance. It also
includes Underinsured Motorist cover where the insurance coverage pays for
damages when a covered person is injured in an auto accident caused by another
driver who has insufficient liability insurance.

However, this section of the report will also elaborate in specific details the
knowledge and experience which I attained pertaining to the subscription of an
automobile insurance policy. I will present my focus area in two parts. The first part
will simply be on factoring out the key aspects of an automobile insurance. In order
words I will be bringing out the factors that have to be taken into consideration when
producing an automobile insurance policy. The second part will constitute the

21
subscription process itself and the formalities for the production of an automobile
insurance policy. This second part will illustrate in details the following processes;
customer orientation, the relevant documents for subscription, calculation of
premiums, issuance of a policy and the rate of renewal, declaration, indemnification
and amicable compensation.

4.2 Subscription of Automobile Insurance

4.2.1 Factoring Key Aspects of Underwriting an Automobile Insurance Policy

There are various aspects taken into consideration when underwriting a motor
insurance contract. With regards to automobile insurance in Cameroon, the
following aspects must be taken into consideration: the category of vehicle, the
geographical area of traffic, and the specifications of the vehicle. See appendix for
Tariffication of Category One Vehicles.

4.2.1.1 Vehicle Category

The vehicle category in automobile insurance was stipulated by the Ministry of
Finance under Order No. 00380/MINEF/DCE/A of 16/09/1994, fixing the tariff of
insurance of civil liability in Cameroon applicable to ten categories of usage:

Category 1: Tourism

In this case, the car is privately owned and used for private purposes and not for
transporting goods.

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Category 2: Private Utility Vehicles

These are vehicles used for the transportation of goods and products belonging to the
insured. Vehicles under this category are used for private purposes. For example,
Pick-Up Trucks.
Category 3: Public Transportation of Goods

This mainly refers to transportation of goods and products belonging to third parties
subject to payment to the insured owner or driver. Car used for postal services or
moving operations belong to this category. For example, Trucks and Lorries.

Category 4: Public Transportation of Passengers This

category is divided into 3 sub categories.

Category 4A: This concerns vehicles with less than eight seats (including the
drivers’ seat), mostly referring to taxis.

Category 4B: This applies to the regular or big buses and vans especially arranged
with the transportation of passengers subject to payment.

Category 4C: This refers to vehicles used for the transportation of staff or students
of an institution.

Category 5: Motor Cars with Two or Three Wheels This

concerns motor cycles with two wheels.

Category 6: Vehicles Entrusted To Mechanics and Sales Agents

This refers to cars entrusted to mechanics for repairs and companies who sell cars.

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Category 7: Vehicles of Driving School

This refers to vehicles assigned to the teaching of motor car driving and can be used
during the practical of the examinations to obtain a driving license.

Category 8: Rental Cars

These are vehicles for hire or lease.

Category 9: Moving Machines in a Yard Or Building Site

This relates to motorized or mechanically propelled cranes, bulldozers, etc.

Category 10: Ambulance and Hearses

This concerns vehicles assigned to carry side persons and corpses.

4.2.1.2 Geographical Area of Traffic

The geographical traffic intensity is another important aspect in determining the

tariff of automobile insurance policies in Cameroon. In line with the 1994 Order,
Cameroon has three distinguishing zones of traffic.

Zone A: this includes; Douala, Yaoundé, Baffoussam, Garoua, Bamenda etc.

Zone B: this includes; Maroua, Ngoundere, Ebolowa, Buea, Limbe etc.

Zone C: this includes sub divisional towns and country sides.

4.2.1.3 Specifications of the Vehicle

Different vehicles with different characteristics do attract different premiums.
Vehicles with big engines and high capacity attract very high premiums. The
following characteristics may vary the premiums for different vehicles. First, the

24
power of the vehicle. The cubic capacity or cylinder (CC) of a vehicle’s engine is a
relevant factor. This is normally specified according to the number of horse power
(CV). Secondly, the source of Energy. Different categories of engines use different
sources of energy like Fuel, petrol, and diesel engines. Lastly, the loading capacity
in terms of the number of seats.

4.3 Automobile Insurance Subscription Process

4.3.1 Customer Orientation

As a precaution prescribed by the CIMA Code, the first step in producing an
insurance contract is for the subscriber to complete a proposal form giving the details
of the subject matter of insurance. Majority of the time Zenithe skips this process
and takes a huge step forward in orientating its client verbally and nonverbally.
According to Tumnde (2003) in consumer motor insurance, many insured are poorly
educated, and even if educated then the product itself is not easy to comprehend and
may well be sold by those who are commission driven rather than providing the
customer with the technical help that they often need. Zenithe orientates its clients
through various mediums of sensitization including periodic newsletter articles on
the official Zenithe Insurance website.

A typical orientation procedure carried out by the underwriter of Zenithe Insurance

Limbe will include; getting the various identification of the subscriber, getting the
particulars and documents of the subject matter of insurance, prescribing the various
risk, liability, guarantees and premiums to the subscriber and orientating the
subscriber on how his contract will work including other relevant information
relating to his cover.

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4.3.2 Underwriting a Contract
After the process of customer orientation is complete, the next step the underwriter
takes in the subscription process is to attain the relevant documents of the subscriber
and the vehicle.
4.3.2.1 Particulars Relevant to Automobile Subscription
These documents includes: Firstly, a Registration Certificate (Carte Grise) which is
the vehicle’s identity and acts on behalf of the vehicle. See appendix for Registration
Certificate. Secondly, a Road Worthiness Certificate (Visite Technique) which
shows the state and quality of the vehicle and thus its road worthiness. See appendix
for Vehicle Inspection Sticker. Lastly, on some occasions a Driver’s License which
is simply a document authorizing the subscriber to drive a motorized vehicle. It is
important to note that these three compulsory documents are issued by the Ministry
of Transport in Cameroon.

4.3.3 Risk Covered by Compulsory Automobile Insurance

With regards to compulsory motor insurance in Cameroon Zenithe Insurance
primarily covers three compulsory guarantees which includes, Civil Liability, Third
Party and Legal Assistance (recourse). By virtue of the CIMA Code article 200,
Civil liability is a compulsory guarantee where an insurer covers the pecuniary
damages of physical or material loss of the insured resulting from accidents, fires
and other damages of his vehicle. While a Third party guarantee mostly covers for
damages to other parties and their vehicles in the event of accident. It is fairly
obvious that pedestrians and passengers are third parties and not the policy holder or
driver. Lastly, Legal assistance or recourse is a compulsory guarantee offered by
Zenithe which covers the legal expenses of the insured and issues of litigation. Legal
assistance usually falls in a situation where for example, an insured has an accident
and it leads to the death of a third party. In this situation Zenithe will then follow up
the legal matters in court using its own legal practitioners on behalf of its client. To
26
conclude, the extensiveness of an automobile insurance cover might also go beyond
these three primary guarantees above to include risks like theft depending on the
preference of the insured.
According to Zenitheinsurance.com, the more extensive the insurance cover, the
more expensive the policy will cost.

4.3.4 Properties of a policy

The general terms and conditions of an automobile insurance contract under Zenithe
Insurance is written down in both printed form and softcopy document called the
policy. According to Eke (2010) the policy is not the contract itself, but merely
indicates the contract arising from the agreement reached by the insurer and the
insured. In motor insurance, the policy is of no effect unless and until a certificate of
insurance is issued to the insured in respect to the insured vehicle. See appendix for
Insurance contract.

By virtue of Article 8 of the CIMA Code an automobile insurance policy must

stipulate the following properties:

• The names and residences of the contracting parties;

• The object or the person insured;

• The nature of the risks covered;

• The effective date and duration;

• The amount of the coverage;

• The premium or contribution of the insurance;

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 • The conditions of automatic renewal,

• The case and conditions of extension or termination of the contract or

cessation and it effects;
• The obligations of the insured upon drawing a contract and later during the
course of the contract, as regards the declaration of risk and the declaration of
other coverage of the same risk;

• The condition and terms of the declaration to be made in the event of a

claim;

• The time limit for payment or claims;

• For coverage other than those of liability, the procedure and the principles
pertaining to assessment of damages in order to determine the amount of the
claim;

• The time limitation of actions deriving from the insurance contract;

• The forms of termination as well as the time limit for prior notice.

4.3.5 Calculation of Vehicle Premium

I had the opportunity as an intern to be tutored by my field supervisor on how an
automobile insurance premium is calculated. In practical terms an insurance
premium in Zenithe Insurance is computer generated in the process of underwriting.
In this area of the report, I will be bringing out the key mathematical aspects that
constitutes an insurance premium. In calculating premiums the aspects to be
considered includes: the geographical area of circulation, the specification of the
vehicle in terms of cubic capacity and horse power, the vehicle category, the duration
of the contract, administrative cost and the type of risk covered.
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4.3.5.1 Formula for calculating premium
In calculating the premium for a vehicle, the Underwriter uses the Registration
certificate of the vehicle to get the relevant information. Below is an illustration of a
real scenario in accordance with the relevant appendices.
• Petrol

• Diesel

• Premium = Net premium + Accessories (ACC) + Value

Added Tax (VAT) + ASAC (FC) + Carte Rose

Above is the formulae for converting the cubic cylinder (CC) of a vehicle to horse
power (CV), the horse power (CV) is the main determinant of the Net premium, and
the latter is the formula in deriving a premium. In accordance with Order No.
00380/MINEF/DCE/A of 16/09/1994 stating the tariffs for automobile insurance,
Administrative cost also plays vital role in premiums in terms of ACC and VAT.
VAT is obviously calculated as an increase in percentage on the net premium of
19.25%. FC represents a partial inclusion fee put in place by the Association of
Insurance Companies in Cameroon (ASAC). Note that, after determining the Net
premium Zenithe Insurance makes a 10% reduction of the amount.

4.3.5.2 Practical Scenario

 CV

= 8.11

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 = 8CV

From this level we can bring out the net premium using the CV. See appendix for
Tarrification.

 Net Premium = 92497

 -10% N. Premium = 83247

 Accessories = 2500

 VAT +19.25% = 16025

 F.C = 250
 Carte Rose = 1000 Total premium = 103022

The Premium derived above basically lapse for a period of one year. Payment of
premium to the insurer might vary in terms of duration. That is, two month, six
month and one year. Therefore the

Underwriter can schedule the various time limits mentioned based on the proposer’s
preference.

4.3.6 Policy Renewal

Zenithe Insurance Limbe claims it has a rate of policy renewal of approximately
70%. Renewals are not automatic unless the condition for insurers decides to renew.
Zenithe Insurance often sends a renewal notice to its policy holders reminding them
of when their policy will expire and when the renewal of the premium will be due.
This also falls inline with the aspect of a sustainable relationship between the insurer
and the insured. Thus, Zenithe tries to create a long term sustainable relationship and
good customer care services in order improve the rate of renewal and prompt
renewal.

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4.3.7 Declaration
Inline with the operations of Zenithe, automobile insurance subscribers are advised
to report or declare accidents, theft or fire disaster of vehicles immediately or within
a period of five days. A declaration is done by the person driving the vehicle at the
time of the loss. In the process of declaration, the insured must provide all the
necessary documents because without them, the file is considered incomplete. These
documents includes; National identity card, a vehicle registration certificate, a road
worthiness certificate as well as an accident report from the police and if possible
photos of the accident scene. All of the afore mentioned documents will be
accompanied by a declaration form filled by the driver. A declaration form will
encompass the details of the vehicle and a firsthand account of the accident. Once
the declaration file is complete, it will be forwarded to the claims department of
Zenithe Insurance PLC. See appendix for Declaration form.

4.3.8 Claims and Indemnification

Zenithe Insurance PLC operates in a centralized system of handling claims. The
claims department at the head office constitutes of technical and legal experts who
critically evaluate customer’s claims and give their justifications. It is important to
note that, the occurrence of a damage caused by a motor vehicle gives rise to a right
to receive compensation on the part of the victim or the vehicle. For example, in a
case of litigation where the driver is at fault and there is a third party victim, Zenithe
will provide legal assistance and legal experts for its client (insured) and the case
will be presided in court. The judge will now decide whether the insured will receive
partial compensation or if he will be completely excluded from any form of
compensation, the parties will then proceed to amicable compensation of the victim.
It is also important to note that amicable settlement between the driver and his victim

31
at the spot of the accident is not advisable. This is because the victim might come
back.

Another typical example could be a situation where the driver is alone and he is
responsible for the accident, the driver can only benefit from compensation if he
contracted a specific insurance policy or where there is a clause in the insurance
policy which guarantees compensation for him in such situations .In such cases,
compensation will be limited to the values stated in the policy. To conclude,
Zenithe Insurance does its best to ensure that the insured and other victims of the
accident are compensated accordingly within the shortest possible time. This

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gesture helps the compan y in its quality approach in order enable a sustainable
relationship with its clients and for the insured to remain a customer.

33
 CHAPTER FIVE
SUMMARY OF ANALYSES, RECOMMENDATIONS AND CONCLUSION

5.1 Major Findings on Automobile Insurance Subscription

Despite the fact that automobile insurance is under compulsion by law in Cameroon,
a great majority of subscribers do not fully comprehend the basic aspects and the
value of automobile insurance. Hence, there is a popular believe that insurance
companies are fast to collect premiums but are slow to indemnify. Furthermore, most
subscribers are riled by the fact that most insurers are out for profit motives rather
than risk transfer.

However, Zenithe Insurance takes a step in orientating subscribers first before

getting into any type of insurance contract. Zenithe believes giving customers the
right knowledge of insurance tends to eliminate misconceptions.

5.2 SWOT Analysis of Zenithe Insurance Limbe

SWOT analysis is used to measure views of a single issue from different patterns.
This analysis is strictly based on practical observation, as an intern I found the
following Strengths, Weakness, Opportunities and Threats under SWOT analysis on
Zenithe Insurance Limbe:

5.2.1 Strengths
Zenithe insurance in general has a strong brand image nationwide. The ISO
certification has made Zenithe to become a well-known reputed insurance company
in Cameroon with highly educated and experienced officers. Furthermore, Zenithe
carries out regular in-service training for her employees. These in-service training
includes: short courses for capacity building skills, staff training abroad in countries
like Gambia and seminars with experts who orientate on industry trends and updates.

34
Overall this intend serves as a strength since it enhances personnel skills and thus
productivity. More so, Zenithe strictly complies with government rules and
regulation and does not engage in unfair insurance practices. Lastly, Zenithe has high
profile clients like, University of Buea and CAMTEL.

5.2.2 Opportunities
Zenithe takes initiatives to provide high quality services that meets international
standards. Zenithe can also increase its portfolio by capitalizing on its “Einsurance”
platform. Furthermore, Zenithe Insurance is ISO certified which in simple terms
means Zenithe meets the criteria for quality management principles including a
strong customer focus, the motivation and implication of top management, the
process approach and continual improvement in its service provision.

5.2.3 Weakness
Branch offices like the Zenithe Limbe, lack autonomy on vital aspects of insurance.
This is due to centralization. More so, Zenithe Insurance Limbe only focus on sales
and underwriting.

5.2.4 Threats
First, the number of competing insurance companies in Cameroon is increasing.
Secondly, Public authorities like the Police do not fully cooperate with Zenithe
especially in cases of prompt production of police reports after an accident.

Increase in government rules, regulations and tax are not so inspiring.

5.3 Recommendations
From practical observation during my internship and with regards to some problems
faced by Zenithe, the following recommendations were made:
First, Zenithe Insurance PLC should decentralize some of its key operations to the
branch level especially with the claims department and also equip experts dedicated
35
to this particular task. Secondly, ensure a proper division of work and job
description. Thirdly, Zenithe should develop its e-insurance platform. Furthermore,
ensure an excellent internet bandwidth and proper software upgrade. Lastly, Zenithe
Insurance should provide specific tasks and job description for interns at the branch
level.

5.4 Conclusion
In spite of the intern’s basic knowledge in insurance, the atmosphere provide by
Zenithe Insurance Limbe was cordial and conducive during my internship. The staffs
were always prepared and willing to explain things to me whenever and wherever
the need arose. As such I was able to blend practice with theory and thus expand my
knowledge from a whole new perspective. Though it is not possible to go to the depth
of each insurance activities at the branch office due to time limitation. However, the
intern still got the chance to gather practical experience with regards to automobile
insurance subscription.

Although Zenithe Insurance Limbe has some weaknesses, still the company is
running its operation successfully with the primary objective of quality service and
customer satisfaction which gives room for an efficient and effective environment
for professional training programmes for students enthused about insurance.

To conclude, with regards to the knowledge and experience gained from internship
program, the intern also developed a spirit of self-discipline which came as a result
of a daily work routine. Once more I am grateful to the entire staff of Zenithe
Insurance Limbe and a special thanks to the manager of Zenithe Insurance Limbe
Mrs. Chia Joan for giving me such a wonderful opportunity to be expose to such a
live time experience.

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References
EKE, A. A. (2010). Indemnification of Victims of Motor Accidents: A Comparative
Study of English Law and the Cima Code. Dschang: Unpublished.

Car Insurance (2013). Cheap Auto Insurance in Cameroon: Quotes and Rates.
Retreived from http://www.carinsurancequotes.com/car-insurance/Cameroon.html
on 18th September 2016.

CIMA General Secretariat, (2012). CIMA Microinsurance Code. Retrieved from

http://www.ifc.org/wps/wcm/coonect.html on 1st September 2016.

Investopedia-LLC-(2016).-Auto-Insurance.-Retrieved-from
http://www.investopedia.com/terms/a/auto-insurance.asp on the 25th September
2016

Ministre De L’economie et des Finances. (1994, 09 16). Tarrif Automobile Arrete

No_00380/MINEF/DCE/A.

Tumnde, M. S. (2003). Motor Vehicle Insurance in Cameroon. In M. S. Tumnde,

Motor Vehicle Insurance in Cameroon. Limbe: Njikam Design House.

Zenithe. (2016, August 13). How Important Is Automobile Insurance. Retrieved

from zenitheinsurance.com: http://www.zenitheinsurance.com

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