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
communication skills to:
gather and check information
liaise and share information with others
communicate appropriately with people from diverse backgrounds
IT skills to:
use computer applications (word processing, spreadsheet, database, specific purpose computer systems)
access and update records electronically
organisational skills to efficiently plan and sequence work
problem solving skills to address errors in life insurance documentation
reading skills to:
read and understand relevant procedures
read and understand product information
read and understand life insurance policies
read and interpret life insurance policy change requests
research and analysis skills to:
identify and interpret relevant information
maintain currency of products and services knowledge
writing skills to:
accurately record information
prepare professional letters and emails.
Required knowledge
the ability to apply and explain as relevant to the changing of life insurance policies:
life insurance administrative requirements
life insurance policy terms and conditions
nature of life insurance policy liabilities
organisational procedures
organisational systems for data entry, filing and document registrations
product information.
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.
Policy request may include: | a request to add or remove a rider benefit a request to alter the sum insured a request to assign ownership of a policy a request to reduce the duration of a policy, for example whole of life or endowment policy a request to review a past underwriting decision, for example premium loading applied to a smoker’s policy. |
For a request to be valid, it must be evident that: | client is authorised policy exists policy is current. |
Non-routine policy requests may include: | requests outside client authority requests outside relevant guidelines unusual requests. |
Appropriate authority may include: | supervisor manager other levels of management. |
Assess request may include evaluating the: | acceptability of changes to the risks that the policy covers acceptability of changes to the potential policy liability compliance with organisational guidelines legality and ethics of complying with the request. |
Procedures may include: | organisational complaints handling processes organisational customer service charter organisational guidelines organisational policy organisational privacy and confidentiality guidelines organisational procedures. |
Regulatory requirements may include: | Australian Securities and Investments Commission (ASIC) regulatory guides corporations legislation insurance contracts legislation life insurance legislation privacy legislation. |
Outcomes may include: | accept request amend request defer request reject request. |
Consequences may include: | changes in policy benefits changes in policy ownership changes in policy terms and conditions changes in premiums changes in term of cover. |
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