Google Links

Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Identify significant risk changes to insurance program
   • Significant risk changes are identified against existing level of client exposure
   • Objective risk assessment is undertaken
   • Existing business is reviewed in line with significant risk changes
2. Prepare advice to client
   • Advice is provided that is based on objective assessment of situation
3. Negotiate with insurers on behalf of client
   • Suitable markets for client requirements are identified
   • Terms and conditions are negotiated with insurer to protect client's business
4. Communicate options to client and obtain client instructions
   • Alternative risk management strategies are presented to provide client with viable options
   • Cost-benefit analysis of options is undertaken where appropriate
   • Client is provided with the opportunity to discuss and question alternatives
   • Clear and concise formal instructions are obtained
   • Client instructions are documented and confirmed to protect interests of client and broker

Required Skills

Required skills

welldeveloped communication skills to determine and confirm information using questioning and active listening techniques write clear and accurate reports make effective presentations 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 use version control software access and update records electronically access webbased information services welldeveloped literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information and maintain currency of industry products and services knowledge research and analysis skills for accessing and interpreting relevant information interpersonal skills organisational skills including the ability to plan and sequence work data analysis and interpretation skills

Required knowledge

industry compliance requirements industry market position relative to productline of business IT and communications systems marketing principles organisation policy and procedures relevant common law legal systems and procedures risk management strategies the insurance market and policies underwriting guidelines and authorities

Evidence Required

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 demonstrate a sound appreciation of the principles and practice of costbenefit analysis insurance benefits credit stability assessment history of risk claims history and level of supplier service synthesise and coordinate all these aspects of the industry to monitor and provide advice on new insurance arrangements proactively anticipate customer requirements and recommend the appropriate products
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 organisational 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 setting and reviewing workplace projects and business simulations or scenarios
Guidance information for assessment

---

Range Statement

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.
Significant risk changes may involve:	complex technical determinations high monetary impact important client base.
Negotiations will usually involve:	developed interpersonal skills and analytical abilities.
Alternative risk management strategies may include:	risk transfer.

---