Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
FNSISV525 Mapping and Delivery Guide
Evaluate and report on status of insurance claims portfolios
Version 1.0
Issue Date: May 2024
Qualification | - |
Unit of Competency | FNSISV525 - Evaluate and report on status of insurance claims portfolios |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit describes the skills and knowledge required to review, analyse and evaluate an insurance claims portfolio or line of business, including preparing reports on portfolio profitability status and recommending changes to minimise losses. It involves analysing claims data and risk, reviewing claims reserves, making assumptions and recommendations about the risks, preparing reports, and monitoring trends in claims activity. It requires the use of information systems, mathematics, financial theories and statistics, risk management methodologies, and financial modelling specific to the line of business.The unit applies to those who work in claims management and underwriting job roles involving specialist knowledge and functions in a range of insurance sectors in 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. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry. This includes access to: organisational records, data and financial models organisational policies, procedures, legislation and regulations as they relate to contracts of insurance common technology and software required to evaluate and report on insurance claims portfolios. Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards. |
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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: Evaluate data on an insurance claims portfolio or a line of business claim |
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Element: Interpret findings to report on assumptions and recommendations |
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Element: Communicate and review report |
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Element: Finalise report findings and confirm approval |
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