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:
manage a complex risk portfolio for at least two different insurance broking clients.
In the course of the above, the candidate must:
synthesise and coordinate knowledge of the industry to monitor client’s need for portfolio changes
undertake client interviews, gather information and analyse options based on risk assessment methodologies, for presentation to the client
review insurance benefits, credit stability assessments, claims history, and level of supplier service.
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 compliance requirements relating to client management procedures
organisational policies, procedures and authorities in developing management plans for clients with complex portfolios and risks
risk assessment methods and risk management strategies required to develop risk management plans for clients with complex risks
techniques to interpret and analyse client’s needs, including key trends and structure of client’s industry and insurance market
key marketing principles and practices applied when managing complex client portfolios
range of insurance products on the market, including knowledge of complex products
key aspects of cost-benefit analysis used in managing complex client risk portfolios and risk portfolios with high risk volatility
insurance fundamentals and methods to interpret, comprehend and apply policy wording
precedents and previous organisational results for changes in complex risk portfolios.
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.