Assessor Resource
FNSISV514A
Review and update claim reserves in portfolio
Assessment tool
Version 1.0
Issue Date: June 2024
This unit applies to claims management job roles involving specialist knowledge and functions 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 review and update insurance claims reserves in a portfolio to minimise losses. It encompasses identifying and analysing claims, reserves trends data, legislation and regulations, reports and related documents; monitoring funds, interpreting the results and reporting on the findings to minimise losses.
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).
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