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Elements and Performance Criteria

1. Collect data on claims trends
   • Data gathering processes are designed and implemented
   • New data requirements and sources of information are identified and process for collecting the data established
2. Monitor and report on claims trends
   • Data collected is analysed to identify trends
   • Accurate and timely claims reports are prepared to document trends where appropriate
3. Identify required changes to portfolio, claims settlement policy or procedures
   • Information which impacts on the various portfolios is communicated promptly to management according to company procedures
   • Changes to policy and procedures are instigated to minimise future losses

Required Skills

Required skills

communication skills to

liaise and share information with others

gather and check information

IT skills to

use computer applications word processing spreadsheet database specific purpose computer systems

access and update records electronically

access webbased information services

numeracy skills to

interpret numeric data and relevant statistics relative to claims and prudential risk

undertake trend analysis

perform portfolio analysis

organisational skills to efficiently plan and sequence work

reading skills to

read and understand relevant procedures

read and understand reports and statistics

research and analysis skills to

identify and interpret relevant information

analyse information and data

interpret statistics

writing skills to

accurately record information

appropriately reference source documents including policy definitions and submitted evidentiary documents

prepare reports

draft policy documents

Required knowledge

claims policies and procedures

data analysis techniques

industry trends in insurance prudential risk management

portfolio management techniques in insurance prudential risk management

design and practice in data collection

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 collect and interpret data from a wide range of sources analyse the causes of trends and the effects on claims settlement policies and procedures
Context of and specific resources for assessment	Assessment must ensure competency is demonstrated in the context of the financial services 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 financial services product information access to information about workplace policy and procedures
Method of assessment	A range of assessment methods should be used to assess practical skills and knowledge The following examples 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 simulated tasks involving preparation of reports from supplied data verbal or written questioning on underpinning knowledge and skills evaluating samples of work
Guidance information for assessment

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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.

Sources of information may include:	reports on claims declinature claims inter-disciplinary rehabilitation (IDR) referrals claim statistic reports previous policies and historical documents premium income claims settlement costs loss ratios claims frequency surveys.
Claims reports may include:	loss ratios claims settlement costs claims frequencies.

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