Assessor Resource

FNSISV305A
Issue cancellation advice

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to job roles involving customer services, claims and processing 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 to insured and other relevant parties advising of cancellation of policy.

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

apply organisation operating policies and procedures in relation to issuing cancellation advice

use accuracy and attention to detail in issuing cancellation advice.

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 skills

communication skills to:

determine and confirm information, using questioning and active listening as required

relate to customers

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

access web-based information services

literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

research and analysis skills for accessing and interpreting relevant information

organisational skills, including the ability to plan and sequence work

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.

Requests to cancel insurance policies may be initiated by

claims department

financiers

the insured.

Appropriate formats may include:

in writing from the insured

in writing from the financier

on appropriate internal memo documentation.

Relevant personnel may include:

accounts personnel

administration department

claims manager

customer service manager.

Reasons for cancellation of policy may include:

insured has been found to have submitted a fraudulent claim with the insurance organisation

insured has breached of duty of disclosure

insured wants to take out insurance with another insurance organisation or underwriter and needs to cancel policy mid-term.

Legislation and codes of practice may include:

Corporations Act

Financial Services Reform Act (FSRA)

General Insurance Code of Practice

Industry codes of practice

Insurance Contracts Act.

Refunds or payments owing will depend on:

date of policy cancellation

nature of cancellation

organisational policies in relation to cancellation of policies.

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
Request to cancel a policy is received in appropriate format and verified with client or relevant personnel 
Reason for cancellation is established and recorded according to the organisation's operating procedures 
Details of the cancellation are entered into the organisation's database 
Insured or relevant parties are contacted where necessary to obtain further details required to process the cancellation 
Refunds are calculated according to the organisation's policies and procedures and verified by relevant personnel 
Authority to remit refund or amounts owing is obtained from relevant personnel 
Payments are dispatched within the required timeframe 
Documents are copied and filed for auditing purposes according to organisation operating procedures 
Notices required by legislation and codes of practice are sent to insured parties within required timeframes and according to operating procedures 
Where necessary, financiers are advised of cancellation of insurance 

Forms

Assessment Cover Sheet

FNSISV305A - Issue cancellation 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

FNSISV305A - Issue cancellation 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: