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 relevant guidelines and procedures

1.1. Effects on role of legislative, industry and brokerage guidelines and procedures are determined

1.2. Up-to-date checklist of operational procedures is maintained and observed

2. Work in accordance with guidelines and procedures

2.1. Work tasks are carried out in accordance with specific organisation policy, guidelines and procedures

2.2. Regulations, codes and procedures set out in organisation compliance manuals in relation to the provision of information, retail and other advice are complied with

2.3. Insurance and insurance broking codes of practice are used to guide an ethical approach to workplace practice and decisions

2.4. Assistance in clarifying the application of the guidelines, procedures and legislation is sought from appropriate personnel where necessary

3. Develop and maintain personal competency in work tasks

3.1. Training needs and goals are identified and reviewed on a regular basis

3.2. Competency, authorisation and licensing requirements are clarified

3.3. Professional development opportunities that reflect needs and goals are sought and completed in an agreed upon timeframe

Required skills

communication skills to:

determine and confirm information, using questioning and active listening techniques

liaise with others, share information, listen and understand

prepare clear written communication

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

research and analysis skills for accessing and interpreting relevant information

interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

general insurance and insurance broker's codes of practice

relevant legislation and statutory requirements

relevant industry and organisation policies and procedures

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:

implement operational procedures to meet compliance requirements from financial services industry regulations and other legislation

interpret and comply with organisation policy and procedures, relevant legislation and insurance broking codes of practice

perform work within a quality customer service environment.

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.

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.

Legislative, industry and brokerage guidelines and procedures may include:

anti-discrimination legislation

best practice guidelines

organisation codes of practice

complaint handling procedures

customer services standards

Financial Services Reform Act (FSRA) and ASIC regulatory guides on adviser conduct

induction program

Insurance Broker Code of Practice

Insurance Contracts Act

occupational health and safety (OHS) legislation

Privacy Act

procedures and/or operating manuals

training plans.

Work tasks may include:

broking advisory work

claims or policy administration

initial customer service

internal administration and support.

Appropriate personnel may include:

colleagues

compliance officers

managers or supervisors

senior broking or management staff.

Unit sector

Insurance broking

This unit contains employability skills.