Diploma of General Insurance

This qualification is designed to reflect team leader or supervisor roles in general insurance in a range of organisations.

Possible work functions may include:

analysing and improving portfolio performance

analysing claims trends and recommending strategies for improvement

conducting claims investigation

determining risk rating

issuing insurance contracts.


Subjects

12 units must be achieved.

3 core units

plus 9 elective units

A maximum of 4 elective units must be selected from Groups A and/or B

the remaining elective units can be selected from Groups C,D,E,F, G or H

A maximum of 2 electives may be selected from units aligned to Diploma qualifications in any endorsed Training Package or accredited course

A maximum of 2 electives may be selected from units aligned to Advanced Diploma qualifications in any endorsed Training Package or accredited course.

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:

add topic BSBOHS404B Contribute to the implementation of strategies to control OHS risk

add topic FNSINC401A Apply principles of professional practice to work in the financial services industry

add topic FNSINC402A Develop and maintain in-depth knowledge of products and services used by an organisation or sector

Elective units of competency:

Group A (Claims management)

add topic FNSISV507A Implement claim recovery procedures

add topic FNSISV508A Review and advise on claims costs, policies and procedures

add topic FNSISV510A Manage non-routine and complex claims

add topic FNSISV511A Settle non-routine and complex claims

add topic FNSISV512A Work with legal teams to resolve complex claims

add topic FNSISV513A Provide decisions on legal liability and indemnity of a claim

add topic FNSISV514A Review and update claim reserves in portfolio

add topic FNSISV515A Evaluate and report on status of claims portfolio

Group B (Underwriting management)

add topic FNSISV501A Issue contracts of insurance covering non-routine and complex situations

add topic FNSISV502A Review operational performance of the portfolio

add topic FNSISV504A Negotiate treaty reinsurance

add topic FNSISV505A Determine risk rating for investment and insurance products

Group C (Tier 1 compliance)

add topic FNSASICN503A Provide Tier 1 personal advice in general insurance

add topic FNSASICO503A Provide Tier 1 general advice in general insurance

Group D (Client relationship management)

add topic BSBCUS501C Manage quality customer service

add topic FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers

add topic FNSCUS502A Monitor client requirements

add topic FNSCUS503A Review business performance

add topic FNSCUS504A Manage premium customer relationships

add topic FNSCUS505A Determine client requirements and expectations

add topic FNSCUS506A Record and implement client instructions

Group E (Risk management)

add topic FNSRSK501A Undertake risk identification

add topic FNSRSK502A Assess risks

add topic FNSISV503A Undertake post-loss risk management

Group F (Investigation)

add topic FNSISV506A Investigate claims

Group G (Sales and marketing)

add topic BSBSLS501A Develop a sales plan

add topic FNSSAM501A Apply advanced selling techniques to selling of financial products and services

add topic FNSSAM502A Assess market needs

add topic FNSSAM503A Monitor market opportunities

Group H (General)

add topic BSBRES401A Analyse and present research information

add topic BSBSUS501A Develop workplace policy and procedures for sustainability

add topic FNSIAD501A Provide appropriate services, advice and products to clients

add topic FNSCUS402A Resolve disputes

add topic FNSINC501A Conduct product research to support recommendations

add topic FNSISV516A Allocate authorities and guidelines for distribution


Pathways...

    Pathways into the qualification

    Preferred pathways for candidates entering this qualification include:

    Certificate IV in General Insurance

    Pathways from the qualification

    The primary pathway from this qualification is employment in general insurance supervision in areas such as:

    claims management

    investigation

    portfolio management

    research and analysis

    specialist insurance agent.

    A further learning pathway could be study in relevant higher education programs. Learners should establish relevant qualifications and any credit arrangements that may apply in order to make appropriate elective choices in this qualification


Entry Requirements

Not applicable.


Licensing Information

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. You should refer to the IBSA website (www.ibsa.org.au) or the relevant regulator for specific guidance on requirements.


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

building trust and a rapport with clients

developing and writing reports to specifications

interpreting client requirements and tailoring products or services to meet their needs

preparing and presenting correspondence in appropriate electronic format

the ability to negotiate solutions with clients and colleagues

using effective telephone techniques

using excellent customer service skills and maintaining an ongoing relationship with clients

Teamwork

coaching and mentoring staff to reach minimum customer service standards

contributing to team cohesion and developing team plans

managing workplace relationships including counselling staff as required

monitoring performance and conducting performance appraisals

negotiating and agreeing with staff on performance standards

providing feedback, support and encouragement to team members

Problem solving

checking the accuracy of calculations

collecting, comparing and contrasting data

comparing products and services in order to offer clients different options

determining the viability of new opportunities

identifying OHS hazards and risk control

resolving poor performance issues within scope of responsibility

using problem solving tools and techniques

working proactively with management to resolve workplace issues

Initiative and enterprise

applying referral skills

applying the learning of ergonomics to develop improved processes

building and implementing reward and recognition strategies for customer loyalty

continually reviewing and applying emerging industry trends to product and services knowledge

exploiting business opportunities

identifying and investigating risk as it relates to new business

Planning and organising

contributing to the planning process by researching and validating information

maintaining systems, records and reporting procedures

planning for the business including establishing KPIs and monitoring staff performance

planning work considering resources, time and other constraints

using organisational skills to locate information on statutory and legislative requirements

Self-management

acting as a role model for others

taking to management about concerns with own level of responsibility

understanding and acting upon compliance matters

working ethically and complying with all industry codes of practice and legislative requirements

Learning

developing and monitoring an organisational training plan and individual training plans

encouraging continuous education and professional development

facilitating internal and external training

identifying and documenting training needs for ongoing compliance

seeking specialist financial advice on behalf of clients as required

Technology

conducting effective web searches

operating computers and using word processing, spreadsheet and database skills to produce workplace documentation

using business technology to access, organise and monitor information

using corporate software templates

using research data devices and telecommunication devices and equipment