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 candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

manage a complex risk portfolio for at least two different insurance broking clients.

In the course of the above, the candidate must:

synthesise and coordinate knowledge of the industry to monitor client’s need for portfolio changes

undertake client interviews, gather information and analyse options based on risk assessment methodologies, for presentation to the client

review insurance benefits, credit stability assessments, claims history, and level of supplier service.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and compliance requirements relating to client management procedures

organisational policies, procedures and authorities in developing management plans for clients with complex portfolios and risks

risk assessment methods and risk management strategies required to develop risk management plans for clients with complex risks

techniques to interpret and analyse client’s needs, including key trends and structure of client’s industry and insurance market

key marketing principles and practices applied when managing complex client portfolios

range of insurance products on the market, including knowledge of complex products

key aspects of cost-benefit analysis used in managing complex client risk portfolios and risk portfolios with high risk volatility

insurance fundamentals and methods to interpret, comprehend and apply policy wording

precedents and previous organisational results for changes in complex risk portfolios.

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)

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.

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
Identify significant variations in client’s insurance program by monitoring client requested changes
Identify major changes to level of risk exposure by monitoring and analysing external environment against client program
Undertake risk assessment in compliance with organisational policies and procedures
Seek specialist advice as required and according to organisational procedures
Identify precedents through analysis of similar situations
Maintain records of risks assessed and actions taken
Provide advice based on assessment of current insurance program that considers changes in risk context and external environment
Present alternative risk management strategies
Undertake a cost-benefit analysis of program options
Identify, record and verify client’s preferred program options
Obtain client declarations, as required by insurers
Identify suitable market for client requirements and approach selected insurers according to organisational procedures
Obtain client instructions for negotiated outcomes with insurers
Negotiate options and alternative portfolio structures with insurers
Obtain negotiated outcomes that provide level of cover required by client
Advise client on outcomes of negotiation with insurers and provide client with opportunity to discuss and question alternatives
Explain benefits and disadvantages of available options to client and make recommendations
Clarify and document client instructions and communicate change instructions to insurers
Issue insurance documents within required timeframes and according to organisational requirements

Assessment Cover Sheet

FNSIBK524 - Manage complex risk portfolios for insurance 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

FNSIBK524 - Manage complex risk portfolios for insurance 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: