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

ELEMENT

PERFORMANCE CRITERIA

1. Receive alteration advice from client

1.1. Policy information is gathered, and accurately and promptly recorded according to organisation procedures

1.2. Underwriter's terms and conditions are reviewed

1.3. Policy alteration is reviewed to ensure it meets legislative and organisation requirements

1.4. If policy meets legislative and organisation requirements, alteration is accepted

2. Issue policy alteration advice

2.1. Policy alteration information is processed according to operating procedures

2.2. Policy alteration is checked for accuracy and omissions according to operating procedures

2.3. Information systems are accurately updated

2.4. Completed documents are dispatched to clients within timelines in accordance with operating procedures

2.5. All monies received are processed or refunded in accordance with operating procedures and legislative requirements

2.6. Relevant documentation is accurately filed in accordance with operating procedures

2.7. Customer is notified of any new terms that differ from the customer's request

Required skills

communication skills to:

determine and confirm information, using questioning and active listening as required

relate to customers

liaise with others, share information, listen and understand

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

organisational skills, including the ability to plan and sequence work

Required knowledge

relevant legislation, including Financial Services Reform Act (FSRA)

organisation and departmental policy, procedures and authorities

organisation and industry sector policy wording

product knowledge and basic industry sector compliance 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:

accurately process alterations to insurance contracts across a representative range of products, clients and conditions

check policy alterations and issue in accordance with legislative requirements and organisation operating guidelines

apply relevant knowledge of organisation operating procedures in relation to processing alterations to insurance policies

undertake timely and relevant updating of organisation information systems

accurately handle receipts and refunds in relation to policy alterations.

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.

Policy alteration advice may be received by:

email

facsimile

in person

post.

Alterations to policies can include:

cancellation requests

endorsements

special conditions.

Legislation and organisation requirements includes:

codes of practice

Corporations Act

FSRA

Insurance Contracts Act

organisation operating procedures

Trade Practices Act.

Relevant documentation may include:

photographs

receipts

valuations

written requests.

Unit sector

Insurance services

This unit contains employability skills.