Application
This unit requires the application of research, planning and negotiation skills in order to identify all available options for settlement and to assist in the settlement process. It includes application of dispute resolution skills in the case of contention within the settlement process.
This unit requires the application of research, planning and negotiation skills in order to identify all available options for settlement and to assist in the settlement process. It includes application of dispute resolution skills in the case of contention within the settlement process.
Prerequisites
Not applicable.
Elements and Performance Criteria
Elements and Performance Criteria | |||
Element | Performance Criteria | ||
1 | Prepare for negotiation | 1.1 | All relevant issues and options for settlement are accurately identified in advance |
1.2 | Additional information to support identified options is obtained from relevant sources and parties | ||
1.3 | Cost-benefit analysis is carried out on the various options identified | ||
1.4 | Settlement options are documented and prepared accurately and in a professional format prior to negotiations, and are in accordance with client or company policy and guidelines and with relevant legislation or codes of practice | ||
2 | Attend meetings with involved parties | 2.1 | All information and data needed for settlement meetings are documented and prepared accurately and in a professional format prior to meetings |
2.2 | Meetings of involved parties are arranged and conducted in an orderly, courteous, and professional manner to ensure resolution of issues and settlement | ||
2.3 | Outcomes of meetings between involved parties are documented accurately and promptly and are conveyed to clients and all other parties | ||
2.4 | Wherever appropriate, all documents and information processed as part of the loss adjustment activities are made available to other involved parties promptly | ||
3 | Represent clients in cases where disputation arises | 3.1 | Clients or organisational interests are satisfactorily represented and all relevant documents and information are provided to other involved parties |
3.2 | Disputations are managed courteously and professionally to ensure the best and most expeditious outcome for clients or organisations at minimum monetary and other costs |
Required Skills
REQUIRED KNOWLEDGE&SKILLS |
Knowledge requirements include: knowledge of the insurance industry insurance and contract law principles relevant legislation and industry codes of practice types/categories of insurance policies policy coverage/requirements loss adjusting principles and practice risk management/minimisation claims management salvage/disposal methods recovery subrogation |
Skills requirements include: analytical, evaluative and deductive reasoning problem solving presentation skills planning and organising record keeping interview, consultation and negotiation communication and listening skills time management using computer databases, member/client databases and telecommunication devices |
Evidence Required
EVIDENCE GUIDE | |
Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace. | |
Overview of assessment requirements | |
To achieve competency in this unit, a person must be able to demonstrate: thorough knowledge of types and categories of insurance policies, industry codes of practice and relevant legislation loss adjusting principles and practice security practices and principles risk management/minimisation practices | |
Critical aspects of evidence | |
Evidence required for demonstration of consistent performance: | Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the particular workplace environment and should cover all necessary knowledge and skills requirements. |
Delivery/assessment relationship to other units: | This unit may be assessed independently, however demonstration of competency the following unit is a prerequisite: FNSLOSS502B Evaluate collected information. |
Assessment requirements | |
Method of assessment: | For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance. Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on required knowledge and skills and other methods as required. |
Context of assessment: | Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability. Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements. |
Resources required for assessment: | This unit may involve simulation equipment, facilities for workplace or simulated environment assessment, availability of qualified assessors. |
Range Statement
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance. The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement. | |
Settlement may include: | reinstatement or replacement repair monetary pay out acceptance or denial of claim withdrawal of claim |
Client or company policy and guidelines may include: | policies and procedures in relation to risks claims loss loss recovery codes of practice clerical information technology and administrative systems complaints and dispute resolution procedures Australian Institute of Chartered Loss Adjusters (AICLA) Charter of Objects and Professional Conduct |
Relevant legislation may include: | Insurance Contracts Act Insurance Agents and Brokers Act Consumer Credit Code Privacy Act Contracts Law Trade Practices Act industry codes of practice environmental building or construction hazardous materials occupational health and safety (OH&S) motor vehicle |
Documentation may include: | reference to all evidence/information considered reasons for adopting/incorporating certain evidence/information preferred over other evidence/information the basis on which the decision was determined legal/government/professional/other documents reports from others such as loss adjusters/assessors/ insurers, medical providers and others minutes |
meeting notes records of telephone conversations time sheets interview records official/general/other correspondence | |
Representing clients in disputations may involve: | informal meetings between involved parties more formal conciliation formal legal proceedings |
Costs may include: | money time legal administrative professional reputation |
Sectors
Not applicable.
Employability Skills
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
Licensing Information
Not applicable.