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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. Advise clients on varying characteristics of personal injury management insurance
   • Identify characteristics of personal injury management insurance
   • Determine strengths, weaknesses, terms and conditions of personal injury management insurance and communicate to clients where applicable
   • Access and apply appropriate promotional strategy in business activities
2. Determine compliance implications of personal injury management insurance for client
   • Establish and document compliance implications
   • Provide client with all necessary information and documentation as per compliance requirements
3. Review and update current information about personal injury management insurance
   • Review relevant personal injury management insurance regularly, identify any changes to terms and conditions and apply in daily work
   • Establish systems for keeping up with changes and maintaining up-to-date knowledge about relevant personal injury management insurance
   • Continually review emerging trends affecting industry and apply to knowledge of personal injury management insurance
4. Maintain knowledge of personal injury management premium systems
   • Demonstrate knowledge of factors affecting industry classification rates and how industry classification rates are set and allocated to employer
   • Update knowledge of premium formula, impact of its elements on employer premium and actuarial reasoning behind formula
   • Maintain knowledge of alternate premium options and when and why employer could use them

Performance Evidence

Evidence of the ability to:

interpret and comply with industry and organisational obligations and objectives, including relevant legislative requirements

provide relevant information and deal with questions relating to all aspects of the business and policy issues that arise for clients

effectively manage policy and product data and information

identify and present on issues of relevance to clients.

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:

analyse and explain the key features of current personal injury management sector policy, products and compliance requirements

analyse the key insurance industry trends and developments, and discuss likely impacts

describe the key features of:

insurance management systems

insurance promotional programs

premium classification rates and systems.

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