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.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify opportunities and constraints for provision of broking services | 1.1 Review business operations to ensure compliance with relevant legislation 1.2 Identify availability of suitable products and/or suppliers 1.3 Identify resource limitations that impact on provision of insurance broking services 1.4 Determine responses to deal with contingent demand requirements |
2. Establish client risk assessment methodology | 2.1 Develop risk exposure review documentation to enable effective analysis of client risks 2.2 Develop notices and/or instructions to ensure full disclosures are made in compliance with relevant legislation and underwriting requirements 2.3 Identify resource and expertise requirements to ensure required additional or specialist support is obtained |
3. Establish client contact criteria | 3.1 Determine the measures to establish levels of client contact 3.2 Design service level agreements (SLAs) from client contact criteria |
4. Determine procedures for documentation | 4.1 Establish and document distribution procedures in compliance with relevant legislation and underwriter requirements 4.2 Determine appropriate levels of documentation for client service |
Evidence of the ability to:
analyse and design broking services, taking account of business and legislative constraints
create risk assessment methods and documentation, develop implementation plans and review processes
design client management criteria and strategies to deal with contingent demands arising from client claims, risk changes and business development.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
explain analysis of relevant legislative and regulatory requirements that influence the provision of insurance broking services
demonstrate analysis of insurance markets and products, and key trends and developments in global insurance markets
explain evaluation of the current company or industry policy wordings and industry market position of various products and lines of business provided by the organisation
discuss the strategies used to execute policy, procedures and/or guidelines in business practice relating to broking service provision
discuss application of communication and information systems in design of broking services
outline the sales and marketing principles applying to the design of broking services.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance broking field of work and include access to:
common office equipment, technology, software and consumables
organisational records
organisational policy and procedures.
Assessors must satisfy NVR/AQTF assessor requirements.