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

FNSPIM408 Mapping and Delivery Guide
Renew and maintain policy

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSPIM408 - Renew and maintain policy
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to renew and maintain personal injury insurance policies.It applies to individuals who use specialised knowledge and skills and structured approaches to managing relevant information within the underwriting sector.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 personal injury management field of work and include access to:

office equipment, technology, software and consumables

organisational records, policy and procedures.

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: Finalise renewal premium
  • Review information received from client and update client database
  • Recalculate premium according to operating procedures, specified criteria and legislative requirements
  • Promptly complete all relevant documentation according to operating procedures
  • Carry out client follow up as required and action enquiries according to organisational guidelines
  • Prepare client invoice and issue in accordance with organisational procedures
       
Element: Maintain policy
  • Receive and review amended information to ensure it meets legislative and organisational requirements
  • Process information according to legislative and operating procedures
  • Accurately update electronic and manual data storage information systems
  • Check requests for certificates of currency for validity, and issue certificates in accordance with operating procedures and legislative requirements
  • Review mid-term premium amendments and accurately record policy updates
  • Monitor automatic renewals and cancellations in accordance with organisational operating procedures and legislative requirements
  • Calculate and provide premium projections for clients as required
       


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. Finalise renewal premium

1.1 Review information received from client and update client database

1.2 Recalculate premium according to operating procedures, specified criteria and legislative requirements

1.3 Promptly complete all relevant documentation according to operating procedures

1.4 Carry out client follow up as required and action enquiries according to organisational guidelines

1.5 Prepare client invoice and issue in accordance with organisational procedures

2. Maintain policy

2.1 Receive and review amended information to ensure it meets legislative and organisational requirements

2.2 Process information according to legislative and operating procedures

2.3 Accurately update electronic and manual data storage information systems

2.4 Check requests for certificates of currency for validity, and issue certificates in accordance with operating procedures and legislative requirements

2.5 Review mid-term premium amendments and accurately record policy updates

2.6 Monitor automatic renewals and cancellations in accordance with organisational operating procedures and legislative requirements

2.7 Calculate and provide premium projections for clients as required

Evidence of the following must be provided:

interpret and comply with industry and organisational obligations and objectives, including relevant legislative requirements

deal with questions relating to procedures of the business and policy renewal and maintenance issues that arise for clients

effectively research organisational and industry data and information

maintain accurate data on organisational information systems.

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:

describe the key features of organisational and industry codes of practice relating to issuing policy documentation

analyse and describe the key details of appropriate legislation, regulations, organisational operating procedures and codes of practice

analyse and describe industry classification systems and insurance rates for personal injury insurance.

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. Finalise renewal premium

1.1 Review information received from client and update client database

1.2 Recalculate premium according to operating procedures, specified criteria and legislative requirements

1.3 Promptly complete all relevant documentation according to operating procedures

1.4 Carry out client follow up as required and action enquiries according to organisational guidelines

1.5 Prepare client invoice and issue in accordance with organisational procedures

2. Maintain policy

2.1 Receive and review amended information to ensure it meets legislative and organisational requirements

2.2 Process information according to legislative and operating procedures

2.3 Accurately update electronic and manual data storage information systems

2.4 Check requests for certificates of currency for validity, and issue certificates in accordance with operating procedures and legislative requirements

2.5 Review mid-term premium amendments and accurately record policy updates

2.6 Monitor automatic renewals and cancellations in accordance with organisational operating procedures and legislative requirements

2.7 Calculate and provide premium projections for clients as required

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
Review information received from client and update client database 
Recalculate premium according to operating procedures, specified criteria and legislative requirements 
Promptly complete all relevant documentation according to operating procedures 
Carry out client follow up as required and action enquiries according to organisational guidelines 
Prepare client invoice and issue in accordance with organisational procedures 
Receive and review amended information to ensure it meets legislative and organisational requirements 
Process information according to legislative and operating procedures 
Accurately update electronic and manual data storage information systems 
Check requests for certificates of currency for validity, and issue certificates in accordance with operating procedures and legislative requirements 
Review mid-term premium amendments and accurately record policy updates 
Monitor automatic renewals and cancellations in accordance with organisational operating procedures and legislative requirements 
Calculate and provide premium projections for clients as required 

Forms

Assessment Cover Sheet

FNSPIM408 - Renew and maintain policy
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

FNSPIM408 - Renew and maintain policy

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: