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

FNSISV515A Mapping and Delivery Guide
Evaluate and report on status of claims portfolio

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSISV515A - Evaluate and report on status of claims portfolio
Description This unit describes the performance outcomes, skills and knowledge required to evaluate a claims portfolio including preparing reports on portfolio status and recommending changes to minimise losses. It encompasses liaison with relevant stakeholders to verify or expand on data provided and interpret the results to report on the status of the portfolio, including any recommendations to address the findings and 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.
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: Evaluate status of claims portfolio
  • Organisation expectations for claims portfolio performance are identified
  • Claims portfolio data and information is analysed and evaluated to identify trends and determine status of portfolio
       
Element: Recommend changes to claims portfolio, policy and/or procedures, as required
  • Changes to portfolio, policy and procedures to improve portfolio performance and minimise claims losses are identified
  • All changes are fully documented and records updated in compliance with organisation policies and procedures
       
Element: Prepare status report
  • Accurate and timely claims portfolio reports are prepared to document status and trends where appropriate
       
Element: Communicate findings to key stakeholders
  • Information which impacts on the various portfolios is communicated promptly to stakeholders according to organisation procedures
       
Element: Review status report findings
  • Any feedback from stakeholders and used to review key findings and recommendations
  • All feedback and subsequent amendments to status report are fully documented and recorded according to organisation policies and procedures
       


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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

apply planning, data collection, analysis, communication and report writing skills to the interpretation and evaluation of the status of a claims portfolio

interpret charts, graphs and statistical information

interpret and comply with relevant legislation, regulations and industry codes of practice.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to organisation records

access to organisation policies and procedures.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace projects and business simulations or scenarios.

Guidance information for assessment

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.

Required skills

highly developed communication skills to:

determine and confirm information, using questioning and active listening as required

relate effectively to customers

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed numeracy and IT skills to:

access relevant data and to update case file records

perform calculations related to achieving required outcomes

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

access web-based information services

well-developed literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

learning skills to maintain knowledge of changes to compliance legislation and requirements

problem solving skills to identify any issues that have the potential to impact on work outcomes and to develop options to resolve these issues when they arise

self-management skills for complying with ethical, legal and procedural requirements research and analysis skills for accessing and interpreting relevant information

organisational skills, including the ability to plan and sequence work

Required knowledge

data analysis techniques

evaluation methodologies

industry trends in insurance portfolio management

organisation policy, procedures, underwriting guidelines and authorities

relevant industry compliance requirements, legislation and industry codes of practice

risk prevention and loss minimisation methods and application

types and categories of insurance policies

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.

Client portfolio data and information may include:

assessor reports

case reports

correspondence to a range of medical, hospital and legal professionals on claimant related matters

database information

files

forms

insurance policy documents and coverage details

letters

minutes

telephone messages.

Stakeholders may include:

brokers or agents

claims team

managers

underwriting.

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
Organisation expectations for claims portfolio performance are identified 
Claims portfolio data and information is analysed and evaluated to identify trends and determine status of portfolio 
Changes to portfolio, policy and procedures to improve portfolio performance and minimise claims losses are identified 
All changes are fully documented and records updated in compliance with organisation policies and procedures 
Accurate and timely claims portfolio reports are prepared to document status and trends where appropriate 
Information which impacts on the various portfolios is communicated promptly to stakeholders according to organisation procedures 
Any feedback from stakeholders and used to review key findings and recommendations 
All feedback and subsequent amendments to status report are fully documented and recorded according to organisation policies and procedures 

Forms

Assessment Cover Sheet

FNSISV515A - Evaluate and report on status of claims portfolio
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

FNSISV515A - Evaluate and report on status of claims portfolio

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: