Application
This unit describes the performance outcomes required to apply insurance industry knowledge to vehicle loss assessment. It involves using insurance industry terminology and trends; and applying policy, Acts and regulations to ensure the correct conduct of a vehicle loss assessment. .
It applies to those applying insurance industry knowledge to a vehicle loss assessment in the loss assessment environment. Loss assessment may relate to light vehicles, commercial vehicles, heavy vehicles, agricultural and plant equipment, recreational vehicles and motorcycles.
Licensing, legislative, regulatory or certification requirements may apply to this unit in some jurisdictions. Users are advised to check with the relevant regulatory authority.
Elements and Performance Criteria
ELEMENTS | PERFORMANCE CRITERIA |
Elements describe the essential outcomes | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section |
1. Develop and apply an understanding of the insurance industry | 1.1 Sources of information on the structure and functions of the insurance industry are identified and accessed according to workplace policies and procedures 1.2 Broad structures of the insurance industry and their relationship with each other are identified and appropriately applied to day-to-day work 1.3 Insurance industry terminology and vocabulary are used in the correct context 1.4 Trends and technology in the insurance industry are monitored on an ongoing basis to inform personal work practices 1.5 Insurance organisation-specific policies, procedures and processes are identified, clarified where necessary, and applied |
2. Develop and apply an understanding of government Acts and regulations relevant to the insurance industry | 2.1 Statutory insurance industry principles, obligations and compliance requirements of a loss assessor are interpreted and complied with 2.2 Reporting requirements and procedures are identified 2.3 Requirements under privacy law are identified, clarified where necessary, and complied with |
3. Develop and apply an understanding of loss assessment processes | 3.1 Knowledge of loss assessment processes, procedures and policy is interpreted 3.2 Condition of vehicle compared to incident description is analysed to determine incident-related damage 3.3 Conflict resolution principles are applied 3.4 Statutory insurance industry principles, obligations and compliance requirements, and their relationship to identified vehicle damage are interpreted, clarified where necessary, and applied 3.5 Automotive industry technical knowledge and experience are applied to determine accuracy of vehicle damage estimate to return the vehicle to pre-damage condition that conforms to manufacturer guidelines and industry standards |
Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential to performance and are not explicit in the performance criteria.
Skills | Description |
Reading skills to: | apply loss assessment processes, procedures and policies interpret and apply statutory insurance industry principles, obligations and compliance requirements understand broad insurance industry structure, functions and relationships apply organisation-specific policies, procedures and processes. |
Writing skills to: | use common industry terminology compile reports, including vehicle assessment reports and Written-Off Vehicles Register (WOVR) information complete templates and proformas. |
Oral Communication skills to: | use insurance industry terminology and vocabulary engage with repairers and specialist providers engage with vehicle owners. |
Numeracy skills to: | interpret technical measurements determine accuracy of vehicle damage estimate. |
Digital Literacy skills to: | access insurance industry information. |
Problem Solving skills to: | clarify policy and privacy law discrepancies compare and analyse condition of vehicle to incident description to determine incident-related damage. |
Range Statement
This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below.
Terminology and vocabulary must include: | agreed value assessments certificates of insurance claims depreciation excess indemnity market value misrepresentation mitigation no claim: bonus discount rating non-disclosure policy book pool of funds premium pre-accident condition product disclosure statement (PDS) reinsurance renewals subrogation underwriting unreasonable or capricious grounds. |
Trends and technology must include the following: | digital imaging electronic-based researching and reporting personal electronic devices, such as: laptop mobile phone tablet. |
Principles, obligations and compliance requirements must include: | Australian Prudential Regulatory Authority (APRA) regulations Financial Services Reform (FSR) Act General Insurance Code of Practice Insurance Contracts Act, including: duty of disclosure utmost good faith intellectual property principles and practice Motor Vehicle Insurance and Repair Industry Code of Conduct Commercial-In-Confidence practices Competition and Consumer Act privacy law commonwealth, state or territory regulatory requirements statutory changes to the criteria of the national WOVR. |
Reporting requirements must include the following: | assessment report WOVR information for total loss assessment. |
Loss assessment processes, procedures and policy must include at least three of the following: | assessment report WOVR fraud indicator report vehicle condition report. |
Condition of vehicle must include the following: | direction of impact (DOI) appropriate to incident description old and inconsistent damage pre-accident condition and potential contributing factors. |
Sectors
Loss Assessment and Repair Quoting
Competency Field
Vehicle Body