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. Receive applications | 1.1 Receive new life insurance applications and compile necessary documentation 1.2 Check that documentation is correct and complete in accordance with organisational procedures and regulatory requirements 1.3 Gather further information from appropriate information sources as necessary 1.4 Enter application data in appropriate systems and verify data input accuracy |
2. Process applications | 2.1 Establish delegation authority in accordance with organisational procedures and refer application to appropriate authority as necessary 2.2 Consult with internal stakeholders about processing issues or concerns, as appropriate 2.3 Process application, once information is verified, in accordance with organisational procedures and regulatory requirements 2.4 Communicate result to all relevant parties in accordance with procedures and regulatory requirements 2.5 Update records and file documentation in accordance with procedures and regulatory requirements |
Evidence of the ability to:
check documentation and review new insurance applications within delegation authority
process applications correctly and in accordance with organisational procedures.
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:
define life insurance terms and conditions
outline organisational procedures in line with life insurance requirements
explain organisational systems for data entry, filing and document registration
explain life insurance product information
identify relevant regulatory requirements for life insurance
explain when to escalate issues to the next level of authority.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the life insurance field of work and include access to:
office equipment, technology, software and consumables
organisational records, policy and procedures.
Assessors must satisfy NVR/AQTF assessor requirements.