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

Elements and Performance Criteria

1. Analyse performance data
   • Collate and check identified key performance data for accuracy
   • Review data against planned outcomes and prior record
   • Conduct analysis to establish whether planned outcomes have been achieved
   • Assess variations in performance to determine whether remedial action is required
   • Benchmark performance
2. Identify performance problems and remedial action
   • Identify performance problems from available information
   • Refer unusual circumstances for strategic analysis as required
   • Undertake further analysis to identify improvement measures
3. Document, determine and implement remedial action
   • Review existing authorities and acceptance criteria to assess if amendments are needed
   • Prepare action plans to match performance with portfolio profile, within guidelines and established authorities
   • Implement action plans
4. Monitor effectiveness of remedial action
   • Develop procedures to monitor remedial action
   • Monitor remedial action to determine its effectiveness
   • Analyse results on an ongoing basis to ensure portfolio performance has stabilised and is moving towards planned outcomes

Performance Evidence

Evidence of the ability to:

review portfolio performance by:

accurately interpreting and complying with industry legislative requirements and organisational policy and procedures

applying the criteria and methodology for conducting a review of portfolio performance

analyse performance related data and propose remedies for problems

develop and implement a detailed action plan to address problems in portfolio performance

monitor implementation and progress of measures taken to address portfolio performance

complete relevant documentation and adhere to organisational operating guidelines.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

describe the industry market position relative to the product and/or line of business

discuss industry sector compliance requirements such as the insurance codes of practice

explain interim cover as it relates to expiry of contracts and cancellations

identify relevant statutory hazard, health and safety legislation

explain the importance of wording of insurance policies in keeping with the organisation or industry sector

outline organisational policy, procedures, underwriting guidelines and levels of authority

define the difference between treaty and facultative reinsurance

identify key features of relevant legislation, regulatory guidelines and industry sector compliance requirements as they apply to:

insurance contracts

competition and consumer practices

financial services

corporations

explain risk prevention methods and application.

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