Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSIBK511A Mapping and Delivery Guide
Review incidence of loss for broking clients

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSIBK511A - Review incidence of loss for broking clients
Description This unit describes the performance outcomes, skills and knowledge required to undertake ongoing review and monitoring of insurance loss trends and establish loss control programs to improve loss ratios.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit applies to insurance broking roles and may be applied within organisations of various sizes and across a range of customer bases.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Identify loss trends
  • Details of loss reporting program required to analyse claims history is determined
  • Claims data required to analyse losses or loss trends is obtained from insurer
  • Data from client regarding loss incidents is collected
       
Element: Determine suitable action on loss reports
  • Analysis of loss information to identify insured losses is undertaken using valid and reliable statistical techniques
  • Any unreported insured losses identified are referred to insurers
  • Recovery protocols for third party claims established where required
  • Need for better data collection of loss information/trends is identified
       
Element: Formulate and recommend loss control program
  • Client's insurance program is analysed to identity areas requiring effective loss control
  • Options to reduce the incidence and frequency of loss to protect the clients' interests are identified
  • Client loss control programs are clearly documented with reasons for the recommendations made
  • Responsibility for ongoing maintenance of the loss reporting program is assigned so that accurate, comprehensive and reliable records are available
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

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:

demonstrate application of the principles and practice of data analysis

analyse loss experience of customer and make recommendations for appropriate action.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the 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 organisation records

access to organisational policies and procedures.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, 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

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace projects and business simulations or scenarios.

Guidance information for assessment

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Required skills

well-developed communication skills to:

determine and confirm information, using questioning and active listening techniques

liaise with others, share information, listen and understand

write clear and accurate reports

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

undertake statistical analysis and interpret data

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

access web-based information services

well-developed literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

research and analysis skills for accessing and interpreting relevant information

interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

industry market position relative to produce/line of business

industry or organisation compliance requirements

IT and communications systems

loss control techniques

organisation policy, procedures and authorities organisation and policy wording

relevant common law, legal systems and procedures

relevant occupational health and safety (OHS) requirements

risk management techniques

survey requirements

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.

Loss may include:

insured losses

losses below deductible

uninsured losses.

Loss trends may be identified from:

event frequency

loss value comparisons

seasonal peaks

time series analysis

trend projections.

Loss control programs may include:

physical security

safety equipment

spread of risk

staff training

work practices.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Details of loss reporting program required to analyse claims history is determined 
Claims data required to analyse losses or loss trends is obtained from insurer 
Data from client regarding loss incidents is collected 
Analysis of loss information to identify insured losses is undertaken using valid and reliable statistical techniques 
Any unreported insured losses identified are referred to insurers 
Recovery protocols for third party claims established where required 
Need for better data collection of loss information/trends is identified 
Client's insurance program is analysed to identity areas requiring effective loss control 
Options to reduce the incidence and frequency of loss to protect the clients' interests are identified 
Client loss control programs are clearly documented with reasons for the recommendations made 
Responsibility for ongoing maintenance of the loss reporting program is assigned so that accurate, comprehensive and reliable records are available 

Forms

Assessment Cover Sheet

FNSIBK511A - Review incidence of loss for broking clients
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSIBK511A - Review incidence of loss for broking clients

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: