Application
This unit applies to job roles involving customer service, data processing or underwriting in a range of insurance sectors and may be applied within organisations of various sizes and across a range of customer bases. |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Identify contracts due for renewal | 1.1. Computer generated reports are accessed to determine policies due for renewal 1.2. Contracts identified as requiring further investigation prior to invitation to renew are assessed appropriately against organisation operating protocols 1.3. Contracts requiring further investigation are referred to appropriate personnel for resolution |
2. Advise renewal terms of insurance to the insured | 2.1. Notices and information required by legislation and codes of practice are sent to insured parties within required timeframes and according to operating procedures 2.2. Errors and changes required to database records as a result of non-delivery of renewal advice are actioned according to organisation operating procedures |
3. Finalise renewal terms | 3.1. Terms of renewal are finalised according to operating procedures and specified criteria 3.2. All relevant documentation is completed promptly according to operating procedures 3.3. Client follow-up is carried out as required and inquiries actioned according to organisation guidelines |
Required Skills
Required knowledge |
relevant industry legislation organisation and departmental policy, procedures and authorities and industry sector policy wording organisation products IT and communication systems basic industry sector compliance requirements duty of disclosure privacy principles |
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: comply with industry codes of practice and legislative requirements relating to the issue of renewal advice apply organisation policies and procedures accurately when issuing renewal advice ensure accuracy and attention to detail. |
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 organisation 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 |
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. | |
Relevant legislation includes: | Financial Services Reform Act (FSRA) Corporations Act Insurance Contracts Act Trade Practices Act. |
Documentation includes: | amendments cancellations cover notes invoices letters of advice of alteration of terms placing slips policy and renewals notices. |
Sectors
Unit sector | Insurance Services |
Employability Skills
This unit contains employability skills. |
Licensing Information
Not applicable.