Application
This unit applies to insurance broking roles and may be applied within organisations of various sizes and across a range of customer bases. |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Register claim | 1.1. Comprehensive and detailed recording system is established to register claims that meet the terms of relevant business guidelines 1.2. Claims recording system is regularly and accurately updated to minimise processing delays |
2. Advise insurers | 2.1. Claim reports are made formally within organisation operating time requirements 2.2. Formal acknowledgment of claims receipt is immediately sought from insurers 2.3. Appointment of a loss adjuster is established immediately |
3. Complete necessary documentation | 3.1. When required claim forms and other required documentation are requested without delay 3.2. Assistance is supplied to client to complete claims documentation, when required, to ensure full and accurate information is available to insurers in assessment of the claim 3.3. Claims documentation is checked for errors and omissions to ensure accuracy |
4. Reinstate sum insured | 4.1. Insurer, where required, is formally requested to reinstate sum insured 4.2. Client is advised whether the sum insured has been reinstated |
5. Advise client of rights and obligations | 5.1. Terms and conditions of the insurance policy are reviewed with the client to ensure the maximum claims recovery is sought 5.2. Client is provided with advice on administration of the claims to ensure no breach of contract occurs and claims are managed efficiently 5.3. Client is advised of appropriate legislative requirements to protect the client's interests |
6. Liaise with service providers | 6.1. Need for independent service providers with the range of expertise required for the claim is identified where settlement authority exists 6.2. Suitable service provider is selected based on client's instructions where settlement authority exists 6.3. Service provider is thoroughly briefed to ensure any investigation is comprehensive where settlement authority exists 6.4. Report of the independent service provider is obtained, reviewed and assessed within agreed timeframes where settlement authority exists 6.5. Contact with insurer's service provider is maintained to ensure reports and issues are dealt with promptly |
7. Notify terms of settlement to client | 7.1. Details of insurer's settlement offer are prepared with recommendations for client review and acceptance without delay 7.2. Client response to settlement offer is obtained and acted on without delay 7.3. Settlement funds are remitted to client within terms of legislative requirements and business policy and procedures |
8. Update relevant files and records | 8.1. Business records are updated without delay according to business policy and guidelines |
Required Skills
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Required skills |
well-developed communication skills to: negotiate with clients and others determine and confirm information, using questioning and active listening techniques liaise with others, share information, listen and understand write clear and concise reports use language and concepts appropriate to cultural differences numeracy and IT skills to: 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 literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information and maintain currency of industry products and services knowledge research and analysis skills for accessing and interpreting relevant information interpersonal skills organisational skills, including the ability to plan and sequence work |
Required knowledge |
broking systems and procedures insurance contract terms and conditions insurance products and procedures relevant legislation |
Evidence Required
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 fund procedures. |
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 |
Range Statement
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. | |
Claims may include: | casualty consequential loss employee benefits liability personal injury property loss third party injury. |
Service providers may include: | accountants engineers legal professionals loss adjusters management consultants medical practitioners risk managers specialist technical experts surveyors valuers. |
Business records may be: | manual or electronic. |
Sectors
Unit sector | Insurance broking |
Employability Skills
This unit contains employability skills. |
Licensing Information
Not applicable.