FNSILD503 - Establish services to provide advice assessment tool

Assessor Resource

FNSILD503
Establish services to provide advice

Assessment tool

Version 1.0
Issue Date: May 2024

This unit describes the skills and knowledge required to establish processes and systems to service clients within the life distribution stream. It encompasses establishing or reviewing marketing, client services and supplier relationships to achieve service support requirements.

It applies to individuals who use specialised knowledge and organisational skills to provide support for strategic organisational activity.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on 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.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Provide marketing services	1.1 Identify marketing support for defined markets and distribution channels in accordance with distribution plan 1.2 Develop marketing tools that meet regulatory requirements and make available within budget and timelines
2. Provide administrative and ancillary services	2.1 Determine administration and ancillary services against provisions of distribution plan 2.2 Develop and introduce processes to service clients 2.3 Deliver services within timelines and budget, and according to distribution plan 2.4 Reassess service needs in light of usage and budget
3. Provide client services	3.1 Determine services which will meet client expectations and are within enterprise policy and philosophy 3.2 Deliver services within timeframe and budget 3.3 Establish key performance indicators (KPIs) to measure client service 3.4 Ensure services meet industry legislative requirements 3.5 Document service standards in prescribed format and communicate to all stakeholders

Evidence of the ability to:

interpret and comply with organisational policy and guidelines, industry codes of practice, and relevant legislation and regulations

establish and/or review marketing messages and monitor against performance

develop marketing tools

establish and/or review client services and supplier relationships to attain service requirements as per distribution plan

develop key performance indicators to monitor and measure performance of the services provided to life insurance clients.

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:

outline key administrative and ancillary processes to service clients

identify and describe key features of advertising and marketing relating to insurance life distribution

identify and describe key features of organisational systems and documentation requirements

identify and describe key features of services with respect to:

insurance contracts

insurance principles

underwriting

identify and describe key relevant legislation, regulations and codes of practice

outline opportunities and strategies for maintaining and updating knowledge of available products and services.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance life distribution 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.

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.

ELEMENT	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Provide marketing services	1.1 Identify marketing support for defined markets and distribution channels in accordance with distribution plan 1.2 Develop marketing tools that meet regulatory requirements and make available within budget and timelines
2. Provide administrative and ancillary services	2.1 Determine administration and ancillary services against provisions of distribution plan 2.2 Develop and introduce processes to service clients 2.3 Deliver services within timelines and budget, and according to distribution plan 2.4 Reassess service needs in light of usage and budget
3. Provide client services	3.1 Determine services which will meet client expectations and are within enterprise policy and philosophy 3.2 Deliver services within timeframe and budget 3.3 Establish key performance indicators (KPIs) to measure client service 3.4 Ensure services meet industry legislative requirements 3.5 Document service standards in prescribed format and communicate to all stakeholders