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

FNSISV501 Mapping and Delivery Guide
Issue contracts of insurance covering non-routine and complex situations

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency FNSISV501 - Issue contracts of insurance covering non-routine and complex situations
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to undertake processes related to a contract of insurance in a non-routine, complex situation. It encompasses identifying the necessary information and issuing a new policy or contract of insurance in response to requests for quotes, new policies or interim cover (cover note) in non-routine, complex situations.It applies to individuals working in job roles with specialist knowledge and functions such as insurance brokers or agents in a range of insurance sectors within organisations of various sizes and across a range of client 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 services field of work and include access to:

organisational records

organisational policy, procedures, legislation and regulations as they relate to contracts of insurance

a range of common technology and software.

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: Identify non-routine, complex aspects and clarify client’s situation
  • Identify non-routine and complex aspects of client requirements
  • Elicit all necessary information from client
  • Consult specialists where necessary
  • Apply relevant parameters for non-routine, complex situations
  • Verify risk information advised by client
  • Implement survey requirements, if applicable
       
Element: Determine appropriate approach
  • Assess and interpret relevant parameters to determine organisation’s approach
  • Consult specialists within and outside organisation as necessary
  • Determine terms and conditions of contract and premiums within relevant parameters
  • Refer request to higher authority if outside policy and organisational guidelines
       
Element: Issue insurance contact
  • Identify any special aspects of policy and notify client
  • Decline unacceptable request where applicable under law, inform client and give reasons why
  • Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements
  • Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts
  • Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client
       
Element: Identify non-routine, complex aspects and clarify client’s situation
  • Identify non-routine and complex aspects of client requirements
  • Elicit all necessary information from client
  • Consult specialists where necessary
  • Apply relevant parameters for non-routine, complex situations
  • Verify risk information advised by client
  • Implement survey requirements, if applicable
       


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. Identify non-routine, complex aspects and clarify client’s situation

1.1 Identify non-routine and complex aspects of client requirements

1.2 Elicit all necessary information from client

1.3 Consult specialists where necessary

1.4 Apply relevant parameters for non-routine, complex situations

1.5 Verify risk information advised by client

1.6 Implement survey requirements, if applicable

2. Determine appropriate approach

2.1 Assess and interpret relevant parameters to determine organisation’s approach

2.2 Consult specialists within and outside organisation as necessary

2.3 Determine terms and conditions of contract and premiums within relevant parameters

2.4 Refer request to higher authority if outside policy and organisational guidelines

3. Issue insurance contact

3.1 Identify any special aspects of policy and notify client

3.2 Decline unacceptable request where applicable under law, inform client and give reasons why

3.3 Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements

3.4 Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts

3.5 Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client

Evidence of the ability to:

accurately identify non-routine aspects and clarify the client's request

identify and verify risk information received from clients

determine correct premium and issue insurance contract.

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 industry sector compliance, legislation and regulatory requirements

describe the process of interpreting application information and how to apply specific risk ratings

explain the importance of wording of insurance policies in keeping with the organisation or industry sector

outline key features of organisational policy, procedures, insurance guidelines and levels of authority for non-routine and complex situations

outline organisational systems required for issuing cover notes, quotes or new insurance policies.

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. Identify non-routine, complex aspects and clarify client’s situation

1.1 Identify non-routine and complex aspects of client requirements

1.2 Elicit all necessary information from client

1.3 Consult specialists where necessary

1.4 Apply relevant parameters for non-routine, complex situations

1.5 Verify risk information advised by client

1.6 Implement survey requirements, if applicable

2. Determine appropriate approach

2.1 Assess and interpret relevant parameters to determine organisation’s approach

2.2 Consult specialists within and outside organisation as necessary

2.3 Determine terms and conditions of contract and premiums within relevant parameters

2.4 Refer request to higher authority if outside policy and organisational guidelines

3. Issue insurance contact

3.1 Identify any special aspects of policy and notify client

3.2 Decline unacceptable request where applicable under law, inform client and give reasons why

3.3 Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements

3.4 Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts

3.5 Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client

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 non-routine and complex aspects of client requirements 
Elicit all necessary information from client 
Consult specialists where necessary 
Apply relevant parameters for non-routine, complex situations 
Verify risk information advised by client 
Implement survey requirements, if applicable 
Assess and interpret relevant parameters to determine organisation’s approach 
Consult specialists within and outside organisation as necessary 
Determine terms and conditions of contract and premiums within relevant parameters 
Refer request to higher authority if outside policy and organisational guidelines 
Identify any special aspects of policy and notify client 
Decline unacceptable request where applicable under law, inform client and give reasons why 
Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements 
Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts 
Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client 
Identify non-routine and complex aspects of client requirements 
Elicit all necessary information from client 
Consult specialists where necessary 
Apply relevant parameters for non-routine, complex situations 
Verify risk information advised by client 
Implement survey requirements, if applicable 

Forms

Assessment Cover Sheet

FNSISV501 - Issue contracts of insurance covering non-routine and complex situations
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

FNSISV501 - Issue contracts of insurance covering non-routine and complex situations

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: