22nd of December, 2016 for Electronic Commerce of Insurance Products
Paramount Life & General Insurance Corporation traces its roots back to May 1950 when it formally started its non-life insurance business as the Paramount Insurance and Surety Corporation. In a few short years, Paramount successfully established a strong market presence in the small to medium retail business segment. Guided by an experienced management team and highly professional staff, Paramount became quickly known as the Bayad Agad™ company for its business practice of quick claims settlement.
In February 1993, Semper Insurance Corporation was established to extend Paramount’s range of services to include the corporate and medium to large business market segments. Its strong emphasis on service excellence and reliability mirrors its corporate philosophy of Service is Our Policy®.
1997 was a milestone for Paramount as a new Paramount General Insurance Corporation was formed with the entry of two new strategic investors: the Lucky Tableware Group of Cebu, the Philippines’ leading manufacturer of glass containers, enamelware and porcelain ware; and the ANJ Group of the Tahija Family of Indonesia whose interests include financial services, infrastructure development, and mining.
In 2001, Paramount acquired the Philippine operations of the Union Insurance Society of Canton, Ltd. from AXA of France, further strengthening its position in the Philippine general insurance industry. To reflect this new acquisition, Paramount General became known as Paramount Union Insurance Corporation.
Then in 2002, Paramount expanded into the life insurance business by acquiring AEGON Life Insurance Philippines, the Philippine branch of Netherlands-based AEGON Life N.V., and was granted a composite license by the Insurance Commission of the Philippines to operate the business of life and general insurance. In the same year, Paramount was renamed to its present corporate name, Paramount Life & General Insurance Corporation and increased its paid-up capital to PhP150 Million Pesos.
Continuing its strategy of organic growth and consolidation, Paramount acquired the Manila Bankers Life Insurance Corporation’s Individual Life Insurance Portfolio in 2005.
In 2010, Paramount further established its presence in the insurance industry with the launch of its Madaling KausapTM campaign. Then in 2011, Paramount further increased its Paid-up Capital to Php500 Million Pesos bringing its total Net Worth to over Php1.7 Billion Pesos and assets of over P4 Billion Pesos.
In 2012, Paramount acquired Sony Life Insurance Philippines for its unique, needs-based Life Planning sales channel thereby completing the company’s capability to service the entire market spectrum of the insuring public. The acquisition of Sony Life Insurance Philippines’ life insurance portfolio further enhanced Paramount’s presence in the industry.
Now, with over 25 non-life branches and 50 life branches in number nationwide, Paramount has one of the most extensive sales and marketing networks in the industry. It is also the leading insurance provider for Overseas Filipino Workers (OFWs) and one of the fastest growing insurance companies in the Philippines.
In 2017, Paramount aims to grow its business through responsible and safe electronic commerce of its insurance products.
Our Customer Charter for E-Commerce shall assist and guide you, our customers, on the process of availing affordable and accessible insurance coverage. Through electronic commerce, we aim to provide insurance protection in a more convenient manner without sacrificing the quality of our service and the safety of your information.
This charter shall answer questions you might have while in the process of availing of our company’s online services — from the definition of electronic commerce, to our company’s responsibility to you, exhibited through our 8-point commitment. Through this charter, we shall help you understand how we can protect what is important to you, our customers.
What is e-commerce of insurance products?
Electronic commerce is a commercial activity which involves buying, selling, or providing insurance products and services online or via the internet.
With e-commerce, consumers and insurance companies may now transact business online, without the need of personal interaction.
What is ctpl.ph?
The website www.ctpl.ph is the newly-established site to cater to your security and protection needs. The services offered on ctpl.ph is designed to fulfill specific e-commerce insurance needs and deliver the protection straight to you through e-mail and our website.
The website provides a quick and reliable way to obtain a quality Compulsory Third Party Liability (CTPL) car insurance policy required for your yearly vehicle registration by the Land Transportation Office. Paramount believes you deserve to have protection at a price that you can afford. Paramount has now made it easy and convenient for you through our online application process.
What are our commitments to you?
- Strong and Reliable
- Commited to you
- Strong and Reliable
- Committed to you
With a strong financial base and with over 60 branches
Our sole dedication throughout the years to deliver financial security to our clients is what constantly drives our company.
Our site is fully encrypted to protect your information
Apply on your time and don't worry about receiving your policy
Trusted by thousands of long-time clients, nationwide.
What are the Products and Services offered on www.ctpl.ph?
CTPL offers to pay all sums necessary to discharge liability of the insured in respect to bodily injury and/or death to any Third Party, in an accident by or arising out of the use of the scheduled vehicle. If availed, CTPL will pay any claim for bodily injury and/or death to any Third Party without necessity of proving negligence of any kind.
How do we process your application?
Agents and intermediaries will get the complete details of your personal information and the details of your vehicle to be insured which will be encoded into the system. They will provide you quotations and, when acceptable to you, proceed to the issuance of the policy.
You may also directly input your personal information and the details of your vehicle to be insured in our site, where we can directly give you a quotation for the coverage selected. Should you find the quote acceptable, a digital copy of the policy will be generated and sent to your e-mail with payment instructions for the applicable premium. Please print the digital copy for your file and for the processing of your claim.
Who to talk to and ask questions? For inquiries on in-force policies, you may contact the Policy Services Department and for questions and clarifications regarding applications, you may contact the Marketing Team of Paramount Direct at +632 7729264. Our other contact information may be found here on http://ctpl.ph/contact-us.
How fast is the process? You shall receive the digital copy of your policy within 1-2 working days upon submission of your application online.
What documents and other requirements to present? Clients who shall be availing of CTPL coverage through Agents and intermediaries shall only be required to submit the Official Receipt/Certificate of Registration (ORCR) of the vehicle.
How much is the premium? The premium shall be based on the experience rate of the client—to be generated by the system from the information provided, the type of vehicle, and the percentage of coverage chosen by the client.
How to claim?
At Paramount Life & General Insurance Corporation, we aim to provide you with the most convenient ways of handling your insurance needs. To make your claiming process easier and without delay, please follow our simple 3 step guide to claiming:
Step 1 – Check if you have the required documents
- Your vehicle's LTO Official Receipt
- The original copy of the policy report
- The contact number/information of the assured/driver
- The contact number/information of the victim/guardian
Step 2 – Send us an email with the required documents attached through firstname.lastname@example.org
Step 3 – Wait for our claims department to contact you within 7 working days upon submission of documents.
For more information on the claims process, visit: http://ctpl.ph/how-to-claim
How can you contact us?
For questions and concerns, you may:
- visit us at 11/F Sage Hose, 110 V.A. Rufino Street, Legaspi Village, Makati City 1229, Philippines
- call us through the following numbers:
- Landline: +632 772 9264 Telefax: +632 810 1008
- Smart Line: +63939 825 0287
- Globe Line: +63917 539 6987
- Sun Line: +63922 889 4841
- •send us an email by visiting http://ctpl.ph/contact-us. (Note: Kindly indicate your concern in the subject of your e-mail, e.g. Inquiry, Claim, Complaint, or Customer Support).