Assessor Resource

FNSISV304A
Issue renewal advice

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to job roles involving customer service, data processing or underwriting in a range of insurance sectors and may be applied within organisations of various sizes and across a range of customer bases.

This unit describes the performance outcomes, skills and knowledge required to issue notices covering invitations to renew existing insurance contracts.

This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Employability Skills

This unit contains employability skills.



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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

comply with industry codes of practice and legislative requirements relating to the issue of renewal advice

apply organisation policies and procedures accurately when issuing renewal advice

ensure accuracy and attention to detail.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to organisation records

access to organisation policies and procedures.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

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.

Required knowledge

relevant industry legislation

organisation and departmental policy, procedures and authorities and industry sector policy wording

organisation products

IT and communication systems

basic industry sector compliance requirements

duty of disclosure

privacy principles

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Relevant legislation includes:

Financial Services Reform Act (FSRA)

Corporations Act

Insurance Contracts Act

Trade Practices Act.

Documentation includes:

amendments

cancellations

cover notes

invoices

letters of advice of alteration of terms

placing slips

policy and renewals notices.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Computer generated reports are accessed to determine policies due for renewal 
Contracts identified as requiring further investigation prior to invitation to renew are assessed appropriately against organisation operating protocols 
Contracts requiring further investigation are referred to appropriate personnel for resolution 
Notices and information required by legislation and codes of practice are sent to insured parties within required timeframes and according to operating procedures 
Errors and changes required to database records as a result of non-delivery of renewal advice are actioned according to organisation operating procedures 
Terms of renewal are finalised according to operating procedures and specified criteria 
All relevant documentation is completed promptly according to operating procedures 
Client follow-up is carried out as required and inquiries actioned according to organisation guidelines 

Forms

Assessment Cover Sheet

FNSISV304A - Issue renewal advice
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSISV304A - Issue renewal advice

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: