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Elements and Performance Criteria

1. Prepare to place insurance cover
   • Establish client insurance requirements and selected cover according to organisational policies and procedures
   • Calculate and negotiate premium and statutory duties with client
   • Notify insurer of client details and selected cover according to organisational policies and procedures
2. Establish interim cover
   • Obtain interim cover and confirm correct details
   • Forward confirmation of interim cover to insurers and client according to organisational policies and procedures
   • Identify and communicate optional extras to client
3. Complete client documentation
   • Assist client in completing required documentation and declarations according to organisational policies and procedures
   • Confirm required documentation and declarations are completed prior to expiry of interim cover
   • Review and finalise client documentation and declarations according to organisational policies and procedures
   • Ensure premium payments have been made according to organisational policies
   • Provide required documentation to insurer
4. Obtain and record documented evidence of insurance cover
   • Update client records according to organisational policies and procedures
   • Record insurer’s documentation on receipt and according to organisational policies and procedures
   • Update business and disclosure records according to organisational policies and procedures
   • Check receipt of documentation and confirm timely delivery to meet client requirements

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

place and confirm client’s insurance with an insurer for at least two different clients.

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Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and industry compliance requirements relating to insurance transactions

organisational policies, procedures and authorities relating to insurance transactions

insurance details, including product policy conditions, benefits and exclusions

administrative and record-keeping processes

methods for calculating premium and statutory duties.

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