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 loss trends

1.1. Details of loss reporting program required to analyse claims history is determined

1.2. Claims data required to analyse losses or loss trends is obtained from insurer

1.3. Data from client regarding loss incidents is collected

2. Determine suitable action on loss reports

2.1. Analysis of loss information to identify insured losses is undertaken using valid and reliable statistical techniques

2.2. Any unreported insured losses identified are referred to insurers

2.3. Recovery protocols for third party claims established where required

2.4. Need for better data collection of loss information/trends is identified

3. Formulate and recommend loss control program

3.1. Client's insurance program is analysed to identity areas requiring effective loss control

3.2. Options to reduce the incidence and frequency of loss to protect the clients' interests are identified

3.3. Client loss control programs are clearly documented with reasons for the recommendations made

3.4. Responsibility for ongoing maintenance of the loss reporting program is assigned so that accurate, comprehensive and reliable records are available

Required skills

well-developed communication skills to:

determine and confirm information, using questioning and active listening techniques

liaise with others, share information, listen and understand

write clear and accurate reports

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

undertake statistical analysis and interpret data

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

well-developed 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

industry market position relative to produce/line of business

industry or organisation compliance requirements

IT and communications systems

loss control techniques

organisation policy, procedures and authorities organisation and policy wording

relevant common law, legal systems and procedures

relevant occupational health and safety (OHS) requirements

risk management techniques

survey requirements

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:

demonstrate application of the principles and practice of data analysis

analyse loss experience of customer and make recommendations for appropriate action.

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.

Loss may include:

insured losses

losses below deductible

uninsured losses.

Loss trends may be identified from:

event frequency

loss value comparisons

seasonal peaks

time series analysis

trend projections.

Loss control programs may include:

physical security

safety equipment

spread of risk

staff training

work practices.

Unit sector

Insurance broking

This unit contains employability skills.