This qualification is designed to reflect job roles in insurance broking in a range of environments including as a team member in a large organisation or a small brokerage practice.
For current advice on ASIC compliance under RG146 refer to the advice bulletin on the IBSA website or contact ASIC.
Possible work functions may include:
assisting in managing the broking business on behalf of a client
identifying customer needs
preparing insurance program presentations
presenting risk options to clients
responding to customer enquiries for insurance broking products and services
assisting a broking client regarding an insurance claim
assisting in negotiation on behalf of clients
undertaking research and producing reports for broking submissions.
Subjects
12 units must be achieved:
6 core units
plus6 elective units
4 elective units must be selected from the elective units listed below that includes the recommended electives for those wishing to work in insurance broking support roles.
The remaining 2 elective units may be selected from the elective units listed below, any endorsed Training Package or accredited course. These elective units may be selected from a Certificate IV qualification or Diploma qualification.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Core units of competency:
FNSINC301A Work effectively in the financial services industry
FNSIBK401A Research and analyse client and industry information for an insurance broking risk assessment
FNSIBK402B Provide personal advice in general insurance broking products and services
FNSIBK403A Implement an agreed insurance program for a broking client
FNSIBK404A Provide a claims service to an insurance broking client
FNSIBK405A Meet industry and legislative guidelines and organisational procedures relating to insurance broking
Elective units of competency:
FNSASIC301C Establish client relationship and analyse needs
FNSASIC302C Develop, present and negotiate client solutions
FNSASIC304A Provide Tier 2 general advice in general insurance
FNSASIC305A Provide Tier 2 personal advice in general insurance
To achieve Tier 2 competence in General Insurance, participants must provide evidence for assessment of these units of competence with specific reference to the Specialist Knowledge for General Insurance in the Evidence Guide.
FNSASIC301C Establish client relationship and analyse needs
FNSASIC302C Develop, present and negotiate client solutions
or (from the Insurance general/life group of units)
FNSASIC305A Provide Tier 2 personal advice in general insurance.
In order to achieve Tier 2 General Advice in General Insurance, participants must provide evidence for assessment of this unit of competence with specific reference to the Specialist Knowledge for General Insurance in the Evidence Guide.
FNSASIC304A Provide Tier 2 general advice in general insurance.
Pathways...
Preferred pathways for candidates entering this qualification include:
Certificate III in Insurance Broking
The primary pathway from this qualification is employment in insurance broking service and support roles.
A further learning pathway utilising qualifications such as Diploma of Insurance Broking or one of the specialist qualifications would support career progression.
Entry Requirements
Not applicable.
Licensing Information
Not applicable.
Employability Skills
The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.
Employability Skill
Industry/enterprise requirements for this qualification include:
Communication
developing and writing reports to specifications questioning, listening and clarifying client's requirements using excellent customer service skills and maintain an ongoing relationship with clients
preparing and presenting correspondence in appropriate format
using effective communication techniques and having the ability to negotiate resolutions with clients and colleagues
Teamwork
building rapport and trust with clients and liaising and cooperating with a wide range of persons
liaising with clients and a range of other people internal and external to the organisation
referring matters to nominated person as required
Problem solving
collecting, comparing and contrasting data in order to create reports
comparing products and services in order to offer clients different options
identifying and resolving areas of client concern
using problem solving tools and techniques analysing and synthesising information
Initiative and enterprise
adapting to the special needs of customers
generating a range of options in response to a client's needs continually reviewing and applying emerging trends to product and service knowledge
responding to changed and changing situations
Planning and organising
gathering industry information through research processing documents and maintaining files, managing information and scheduling and coordinating competing tasks
implementing internal monitoring practice to ensure ongoing compliance
preparing insurance proposals for clients and insurers maintaining records
Self-management
applying time management strategies to own work schedule
asking for and responding to feedback on performance presenting a positive organisational image
defining and understanding own work role acting as a role model for others
planning own work schedule and monitoring and evaluating own work performance
working ethically and complying with all industry codes of practice and legislative requirements
Learning
developing and maintaining personal competency knowing and following workplace safety procedures using online help for self-learning purposes
identifying opportunities for professional development identified
keeping up-to-date with legislative and policy changes within the industry and applying these to work practices
Technology
conducting web searches and using corporate templates
operating computers
using business technology to access, organise and monitor information
using research data devices, telecommunication devices and related equipment
using word processing, spreadsheet and database entry skills to produce workplace documentation
