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

FNSIBK515 Mapping and Delivery Guide
Monitor broking client requirements and establish loss control programs

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSIBK515 - Monitor broking client requirements and establish loss control programs
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to establish ongoing monitoring and review processes that include insurance loss trends to establish an appropriate loss control program to improve loss ratios.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.

Assessor 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 communication protocols with client
  • Apply brokerage service guidelines to determine level of client contact required
  • Formalise communications where interests of broker and client need to be protected
  • Focus communications on ongoing review of client requirements
  • Establish regular communications within guidelines based on client needs
       
Element: Gather and review client information
  • Identify categories of information relevant to broking services provided
  • Monitor business environment to identify need to amend information services
  • Establish methods to select and filter information in efficient manner
  • Determine, gather and review information relevant to client
       
Element: Establish loss reporting program
  • Determine content and format of information required to analyse and report loss
  • Assign responsibility for establishing and maintaining loss reporting program so that accurate, comprehensive and reliable records are maintained
  • Record loss information accurately and without delay in established format
       
Element: Determine suitable action on loss reports
  • Assess loss reports in relation to client program to ensure all insured losses are identified
  • Refer insured losses to insurers within policy requirements
       
Element: Identify loss trends
  • Undertake analysis of loss information using valid and reliable statistical techniques
  • Apply standard industry procedures to review loss trend information for client impact
       
Element: Formulate and recommend loss control program
  • Identify significance of analysis for client program so areas of effective loss control measures can be specified
  • Identify options to reduce incidence and frequency of loss to protect client interests
  • Document client loss control programs clearly with reasons for recommendations made
       


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 communication protocols with client

1.1 Apply brokerage service guidelines to determine level of client contact required

1.2 Formalise communications where interests of broker and client need to be protected

1.3 Focus communications on ongoing review of client requirements

1.4 Establish regular communications within guidelines based on client needs

2. Gather and review client information

2.1 Identify categories of information relevant to broking services provided

2.2 Monitor business environment to identify need to amend information services

2.3 Establish methods to select and filter information in efficient manner

2.4 Determine, gather and review information relevant to client

3. Establish loss reporting program

3.1 Determine content and format of information required to analyse and report loss

3.2 Assign responsibility for establishing and maintaining loss reporting program so that accurate, comprehensive and reliable records are maintained

3.3 Record loss information accurately and without delay in established format

4. Determine suitable action on loss reports

4.1 Assess loss reports in relation to client program to ensure all insured losses are identified

4.2 Refer insured losses to insurers within policy requirements

5. Identify loss trends

5.1 Undertake analysis of loss information using valid and reliable statistical techniques

5.2 Apply standard industry procedures to review loss trend information for client impact

6. Formulate and recommend loss control program

6.1 Identify significance of analysis for client program so areas of effective loss control measures can be specified

6.2 Identify options to reduce incidence and frequency of loss to protect client interests

6.3 Document client loss control programs clearly with reasons for recommendations made

Evidence of the ability to:

assess and record current and new risks to the portfolio by applying a systematic, methodological approach to monitoring situations in the context of product market developments and industry trends

comply with broking and communication protocols and practices

analyse loss experience of client and make recommendations for appropriate action to cover identified losses

analyse data relating to loss incidents to determine loss trends and make recommendations to improve loss controls

develop a service level agreement (SLA) suitable for broking clients requiring loss control programs.

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:

explain the analysis and evaluation process used to identify potential changes to client portfolios

provide a detailed analysis of loss control techniques applied to managing client risks

outline the application of insurance survey requirements to monitor the requirements of clients with potential risk changes, including those relating to workplace safety

explain approach to analysing policy wordings in relation to client losses

evaluate the impact of industry or company compliance requirements on dealing with client losses

outline company policy, procedures and authorities that are applied in loss analysis and reporting.

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 communication protocols with client

1.1 Apply brokerage service guidelines to determine level of client contact required

1.2 Formalise communications where interests of broker and client need to be protected

1.3 Focus communications on ongoing review of client requirements

1.4 Establish regular communications within guidelines based on client needs

2. Gather and review client information

2.1 Identify categories of information relevant to broking services provided

2.2 Monitor business environment to identify need to amend information services

2.3 Establish methods to select and filter information in efficient manner

2.4 Determine, gather and review information relevant to client

3. Establish loss reporting program

3.1 Determine content and format of information required to analyse and report loss

3.2 Assign responsibility for establishing and maintaining loss reporting program so that accurate, comprehensive and reliable records are maintained

3.3 Record loss information accurately and without delay in established format

4. Determine suitable action on loss reports

4.1 Assess loss reports in relation to client program to ensure all insured losses are identified

4.2 Refer insured losses to insurers within policy requirements

5. Identify loss trends

5.1 Undertake analysis of loss information using valid and reliable statistical techniques

5.2 Apply standard industry procedures to review loss trend information for client impact

6. Formulate and recommend loss control program

6.1 Identify significance of analysis for client program so areas of effective loss control measures can be specified

6.2 Identify options to reduce incidence and frequency of loss to protect client interests

6.3 Document client loss control programs clearly with reasons for recommendations made

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
Apply brokerage service guidelines to determine level of client contact required 
Formalise communications where interests of broker and client need to be protected 
Focus communications on ongoing review of client requirements 
Establish regular communications within guidelines based on client needs 
Identify categories of information relevant to broking services provided 
Monitor business environment to identify need to amend information services 
Establish methods to select and filter information in efficient manner 
Determine, gather and review information relevant to client 
Determine content and format of information required to analyse and report loss 
Assign responsibility for establishing and maintaining loss reporting program so that accurate, comprehensive and reliable records are maintained 
Record loss information accurately and without delay in established format 
Assess loss reports in relation to client program to ensure all insured losses are identified 
Refer insured losses to insurers within policy requirements 
Undertake analysis of loss information using valid and reliable statistical techniques 
Apply standard industry procedures to review loss trend information for client impact 
Identify significance of analysis for client program so areas of effective loss control measures can be specified 
Identify options to reduce incidence and frequency of loss to protect client interests 
Document client loss control programs clearly with reasons for recommendations made 

Forms

Assessment Cover Sheet

FNSIBK515 - Monitor broking client requirements and establish loss control programs
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

FNSIBK515 - Monitor broking client requirements and establish loss control programs

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: