This unit applies to insurance broking roles and may be applied within organisations of various sizes and across a range of customer bases.

ELEMENT

PERFORMANCE CRITERIA

1. Identify the requirements of the research

1.1. The client industry to be researched is identified

1.2. The research objectives, type of report and information requirements to be produced are clarified

1.3. Timeline for collection and presentation of information is determined

2. Collect and organise the information

2.1. Primary and secondary sources of information or data are identified

2.2. Information/data is accessed and appropriately processed

2.3. Information/data is checked for accuracy and completeness

2.4. Information/data is organised for ease of use

3. Analyse and draw conclusions if necessary

3.1. Information/data is analysed and interpreted to assist in the advisory and negotiation process

3.2. Key issues arising from the information for further research or discussion identified

3.3. Main conclusions and recommendations identified and checked for consistency with the report's objectives

4. Interpret and report the findings

4.1. Information is prepared in line with organisational procedures

4.2. Report is provided in an appropriate format and the completeness and accuracy of the information/data is checked against what is required

4.3. Justification of the conclusions are evaluated

4.4. Deadline for presentation of the information is met

4.5. Actions to be taken are appropriately outlined in the final report

Required skills

communication skills to:

determine and confirm information, using questioning and active listening techniques

liaise with others, share information, listen and understand

write and make oral presentation

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

undertake statistical analysis of data and interpretation

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

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

research and analysis skills for accessing and interpreting relevant information using primary and secondary research methods of data collection

effective interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

database and information systems

relevant insurance products

legislation relating to data collection and use

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:

research risk information in a logical manner, organise it so that valid conclusions can be drawn and justified and present it in an appropriate format within a verbal or written report.

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 organisational 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

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.

Research objectives may include:

business reports

risk identification and assessment reports

risk management reports

special subject reports (i.e. specific subject reports for the client on topics or products).

Information requirements may include:

client/industry:

claims data

economic data

risk identification and quantification uninsured risks

insurance market information

insurance policy details

legislation affecting client industries

underwriting information.

Sources of information may be:

client meetings and interviews

client questionnaires

industry publications

industry statistical information

inspection reports

marketing research information

online information systems

organisational files and records

primary and secondary sources of information

product information.

Unit sector

Insurance broking

This unit contains employability skills.