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

FNSIBK512 Mapping and Delivery Guide
Negotiate complex claims settlement for insurance broking client

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSIBK512 - Negotiate complex claims settlement for insurance broking client
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to research, organise, identify points of difference, clarify the crucial issues and present a case in negotiating terms and conditions of claims settlements for insurance broking clients.It applies to individuals who use well-developed interpersonal, analytical and communication skills within organisations of various sizes and across a range of customer bases.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance broking field of work and include access to:

common office equipment, technology, software and consumables

organisational records

organisational policy and procedures.

Assessors must satisfy NVR/AQTF assessor requirements.

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: Establish content of claim
  • Review terms and conditions of insurance policy with client to ensure maximum claims recovery is sought
  • Provide client with advice relating to potential claim recovery
  • Identify non-insured items
       
Element: Negotiate terms and conditions of settlement
  • Identify type of claim and level of variation to standard claims settlement to establish type of negotiation required
  • Represent client interests to ensure full legal entitlement is forthcoming
  • Prepare grounds for negotiation to ensure logical, persuasive and technically correct representations can be made
  • Obtain negotiated agreement with insurer that in most cases meets client requirements and approval
       
Element: Notify terms of settlement to client
  • Prepare and document details of insurer’s settlement offer with recommendations without delay for client review and acceptance
  • Obtain client’s response to settlement offer and act on it without delay
  • Remit settlement funds to client within terms of legislative requirements, and brokerage policy and operating procedures
       
Element: Update relevant files and records
  • Update business records without delay and according to company operating procedures
       


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish content of claim

1.1 Review terms and conditions of insurance policy with client to ensure maximum claims recovery is sought

1.2 Provide client with advice relating to potential claim recovery

1.3 Identify non-insured items

2. Negotiate terms and conditions of settlement

2.1 Identify type of claim and level of variation to standard claims settlement to establish type of negotiation required

2.2 Represent client interests to ensure full legal entitlement is forthcoming

2.3 Prepare grounds for negotiation to ensure logical, persuasive and technically correct representations can be made

2.4 Obtain negotiated agreement with insurer that in most cases meets client requirements and approval

3. Notify terms of settlement to client

3.1 Prepare and document details of insurer’s settlement offer with recommendations without delay for client review and acceptance

3.2 Obtain client’s response to settlement offer and act on it without delay

3.3 Remit settlement funds to client within terms of legislative requirements, and brokerage policy and operating procedures

4. Update relevant files and records

4.1 Update business records without delay and according to company operating procedures

Evidence of the ability to:

review and analyse the insurance cover to determine insured and non-insured items

prepare advice and recommendations for clients based on analysis of the insurance cover and claims made

negotiate with the insurer to obtain the optimum outcome for the client

document the insurer’s settlement offer, including recommendations for client review and acceptance, and obtain client response.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

provide a detailed analysis of the roles and responsibility of the broker in the process of negotiating a complex claim

outline a plan to manage the claim’s process on behalf of the client through application of the insurance broking systems and procedures, and a thorough understanding of the underwriter’s claims process

explain how the key features of insurance contract terms and conditions are evaluated to enable the claim’s negotiation to be planned effectively

explain the application of communication strategies to advise clients throughout the negotiation process, including explaining the roles of underwriters and loss adjusters in the claims process

explain the application of relevant legislation and industry compliance requirements that impact on the client’s rights and obligations.

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish content of claim

1.1 Review terms and conditions of insurance policy with client to ensure maximum claims recovery is sought

1.2 Provide client with advice relating to potential claim recovery

1.3 Identify non-insured items

2. Negotiate terms and conditions of settlement

2.1 Identify type of claim and level of variation to standard claims settlement to establish type of negotiation required

2.2 Represent client interests to ensure full legal entitlement is forthcoming

2.3 Prepare grounds for negotiation to ensure logical, persuasive and technically correct representations can be made

2.4 Obtain negotiated agreement with insurer that in most cases meets client requirements and approval

3. Notify terms of settlement to client

3.1 Prepare and document details of insurer’s settlement offer with recommendations without delay for client review and acceptance

3.2 Obtain client’s response to settlement offer and act on it without delay

3.3 Remit settlement funds to client within terms of legislative requirements, and brokerage policy and operating procedures

4. Update relevant files and records

4.1 Update business records without delay and according to company operating procedures

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
Review terms and conditions of insurance policy with client to ensure maximum claims recovery is sought 
Provide client with advice relating to potential claim recovery 
Identify non-insured items 
Identify type of claim and level of variation to standard claims settlement to establish type of negotiation required 
Represent client interests to ensure full legal entitlement is forthcoming 
Prepare grounds for negotiation to ensure logical, persuasive and technically correct representations can be made 
Obtain negotiated agreement with insurer that in most cases meets client requirements and approval 
Prepare and document details of insurer’s settlement offer with recommendations without delay for client review and acceptance 
Obtain client’s response to settlement offer and act on it without delay 
Remit settlement funds to client within terms of legislative requirements, and brokerage policy and operating procedures 
Update business records without delay and according to company operating procedures 

Forms

Assessment Cover Sheet

FNSIBK512 - Negotiate complex claims settlement for insurance broking client
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:

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Date:

Assessment Record Sheet

FNSIBK512 - Negotiate complex claims settlement for insurance broking client

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: