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.

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 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

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

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.

Unit sector

Insurance Services

This unit contains employability skills.