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 and evaluate policy request | 1.1 Check policy request documentation is correct and complete 1.2 Check request is valid 1.3 Identify non-routine policy requests and liability implications, and direct to an appropriate authority for assessment 1.4 Assess request against policy terms and conditions within authority levels and in accordance with procedures and regulatory requirements |
2. Communicate outcomes of policy request assessments | 2.1 Advise client of outcomes of assessment of request 2.2 Where request is accepted by insurer, advise client of consequences of processing request and ensure client is aware of impacts 2.3 Advise policyholder of reasons for declining request, where request is deemed unacceptable to insurer |
3. Complete services in response to policy request | 3.1 Make authorised policy changes in accordance with procedures and regulatory requirements 3.2 Confirm documentation is correct and complete 3.3 Dispatch documentation to clients in accordance with procedures and regulatory requirements 3.4 Update records and registers in accordance with procedures and regulatory requirements |
Evidence of the ability to:
apply analytical and administrative skills in the assessment and implementation of life insurance policy changes
perform tasks in accordance with relevant procedures and regulatory requirements
identify non-routine policy requests and escalate to the appropriate authority.
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 life insurance policy terms and conditions
explain the nature of life insurance policy liabilities
outline key features of administrative requirements and organisational procedures relevant to policy alterations and assignments
explain organisational systems for data entry, filing and document registrations
describe the possible consequences of changes to policy
outline key features of relevant life insurance product information.
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.