Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
FNSISV514A Mapping and Delivery Guide
Review and update claim reserves in portfolio
Version 1.0
Issue Date: June 2024
Qualification | - |
Unit of Competency | FNSISV514A - Review and update claim reserves in portfolio |
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Description | This unit describes the performance outcomes, skills and knowledge required to review and update insurance claims reserves in a portfolio to minimise losses. It encompasses identifying and analysing claims, reserves trends data, legislation and regulations, reports and related documents; monitoring funds, interpreting the results and reporting on the findings to minimise losses.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC). | ||
Employability Skills | This unit contains employability skills. | ||
Learning Outcomes and Application | This unit applies to claims management job roles involving specialist knowledge and functions in a range of insurance sectors and may be applied within organisations of various sizes and across a range of customer bases. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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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 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Review claims reserves |
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Element: Monitor funds |
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Element: Support claims staff in claims reserve activities |
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Element: Authorise payments, settlements and changes to reserves |
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Element: Identify required changes to portfolio, claims reserves policy or procedures |
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