This qualification is designed to reflect the role of persons carrying out work in life insurance in a range in a range of organisations. Possible work functions may include:
applying procedures and strategies for retaining and enhancing the customer relationship
processing documents, including preparing and issuing policy
reviewing and assessing risk information.
Packaging Rules
13 units must be achieved.
5 core units
plus8 elective units
A maximum of 3 of the elective units must be selected from Group A or Group B or a combination from both groups
the remaining elective units may be selected from Group C or other units aligned to Certificate IV qualifications in the FNS10 Financial Services Training Package
A maximum of 2 electives may be selected from units aligned to Certificate IV qualifications in any endorsed Training Package or accredited course
A maximum of 2 electives may be selected from units aligned to Diploma qualifications in any endorsed Training Package or accredited course
selecting the identified elective unit/s * could meet ASIC accreditation requirements for providing financial product advice. Conditions relating to ASIC accreditation should be obtained from ASIC
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.
Core units of competency:
BSBITS401A Maintain business technology
BSBOHS404B Contribute to the implementation of strategies to control OHS risk
BSBWOR401A Establish effective workplace relationships
FNSINC401A Apply principles of professional practice to work in the financial services industry
FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector
Elective units of competency:
Group A (Underwriting)
FNSISV402A Underwrite new business
FNSISV404A Underwrite renewal business
FNSILF401A Contribute to the life risk underwriting process
Group B (Claims)
BSBCCO402A Gather, collate and record information
FNSISV405A Analyse insurance claims
FNSISV406A Use specialist terminology in insurance claims
FNSILF402A Settle policy payments and terminations
Group C (Customer service)
BSBCUS301A Deliver and monitor a service to customers
BSBCUS401A Coordinate implementation of customer service strategies
BSBCUS403A Implement customer service standards
FNSCUS402A Resolve disputes
FNSASICM503A Provide Tier 1 personal advice in life insurance *
FNSASICP503A Provide Tier 1 general advice in life insurance *
Qualification Pathway
Preferred pathways for candidates entering this qualification include:
FNS30710 Certificate III in Life Insurance
The primary pathway from this qualification is employment in assistant job roles in:
policy processing
underwriting
customer service
This qualification may be suited to an Australian Apprenticeship pathway.
A further learning pathway utilising qualifications such as FNS51210 Diploma of Insurance Broking or one of the specialist qualifications would support career progression.
Not applicable.
Not applicable.
QUALIFICATION SUMMARY | |
Employability Skill | Industry/enterprise requirements for this qualification include: |
Communication | communicating ideas and information cognisant of clients' social and cultural diversity and special needs consulting and negotiating with internal and external stakeholders consulting, questioning, clarifying and evaluating information demonstrating selling skills including matching needs with products/services interpreting customer needs investigating and negotiating to resolve disputes within area of responsibility possessing sound presentation skills with an ability to 'read' verbal and non-verbal body language using a range of techniques to elicit feedback from customers using specialist language in written and oral communication using well-developed interpersonal skills and having the ability to produce a wide range of reports and make presentations as required writing in a range of styles to suit different audiences |
Teamwork | coaching and mentoring staff to reach minimum customer service standards developing a rapport with clients when identifying their needs, objectives and financial situation developing team plans and contributing to team cohesion making constructive contributions to group decision making processes providing feedback to team members |
Problem solving | conducting needs analyses estimating, forecasting and conducting competitive comparisons performing calculations and developing a risk investment profile for individual clients resolving poor performance issues within scope of responsibility working proactively with management to resolve workplace issues |
Initiative and enterprise | being creative and providing innovative solutions to complex issues responding to new and changing circumstances to ensure accurate and timely advice |
Planning and organising | evaluating and authorising payment requests maintaining accounts records for compliance purposes preparing financial reports recording, gathering and classifying information |
Self-management | acting as a role model for others taking to management concerns with own level of responsibility working ethically and complying with all industry codes of practice and legislative requirements |
Learning | applying learning to develop improved practices coaching and mentoring others to acquire new knowledge and skills contributing to the learning of others through implementing team building exercises developing and maintaining professional competency |
Technology | selecting and using technology and software packages to record, track and retrieve information using electronic communication devices and processes (e.g. internet, fact finder, email) to produce written correspondence, charts, diagrams, schedules and reports |