Assessor Resource

FNSIBK522
Negotiate complex claims settlement for insurance broking clients

Assessment tool

Version 1.0
Issue Date: May 2024


This unit describes the skills and knowledge required to negotiate terms and conditions of complex claims settlements for insurance broking clients. It involves researching and organising information, identifying points of difference, clarifying crucial issues in the claim, and presenting a case in regard to an insurance claim settlement on behalf of clients.

The unit applies to those who use well-developed interpersonal, analytical and communication skills in insurance broking organisations of various sizes and across a range of customer bases.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

negotiate complex claims settlements for at least two different insurance broking clients.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and industry compliance requirements that impact client rights and obligations when negotiating complex claims

organisational policies and procedures relating to negotiating complex claims settlement for insurance broking clients, including for managing the claims process on behalf of clients and:

obtaining client responses to settlement offers

using insurance broking systems and procedures

features of insurance contract terms and conditions

roles and responsibilities of broker in negotiating complex claims

key aspects of underwriter’s claims dispute resolution process

techniques to interpret and analyse client’s needs, including key trends of client’s business environment

processes for preparing grounds for negotiation and for negotiating complex insurance claims

communication strategies to advise clients throughout negotiation process

insurance fundamentals and methods to interpret, comprehend and apply policy wording.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational equipment, technology, software and consumables

organisational records

organisational policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

negotiate complex claims settlements for at least two different insurance broking clients.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and industry compliance requirements that impact client rights and obligations when negotiating complex claims

organisational policies and procedures relating to negotiating complex claims settlement for insurance broking clients, including for managing the claims process on behalf of clients and:

obtaining client responses to settlement offers

using insurance broking systems and procedures

features of insurance contract terms and conditions

roles and responsibilities of broker in negotiating complex claims

key aspects of underwriter’s claims dispute resolution process

techniques to interpret and analyse client’s needs, including key trends of client’s business environment

processes for preparing grounds for negotiation and for negotiating complex insurance claims

communication strategies to advise clients throughout negotiation process

insurance fundamentals and methods to interpret, comprehend and apply policy wording.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational equipment, technology, software and consumables

organisational records

organisational policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Review terms and conditions of insurance policy with client 
Advise client on potential claim recovery 
Identify non-insured items and potential issues 
Identify type of claim and establish applicable type of negotiation based on variation to standard claims settlement 
Prepare grounds for negotiation according to legislative and organisational requirements 
Negotiate terms and conditions of settlement with insurer, representing client interests 
Obtain and review negotiated agreement with insurer 
Prepare and document details of insurer’s settlement offer with recommendations for client review and acceptance 
Obtain client’s response to settlement offer according to organisational procedures 
Update business records according to organisational procedures 

Forms

Assessment Cover Sheet

FNSIBK522 - Negotiate complex claims settlement for insurance broking clients
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSIBK522 - Negotiate complex claims settlement for insurance broking clients

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: