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Evidence Guide: AURVNA004 - Apply insurance industry knowledge to vehicle loss assessments

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

AURVNA004 - Apply insurance industry knowledge to vehicle loss assessments

What evidence can you provide to prove your understanding of each of the following citeria?

Develop and apply an understanding of the insurance industry

  1. Sources of information on the structure and functions of the insurance industry are identified and accessed according to workplace policies and procedures
  2. Broad structures of the insurance industry and their relationship with each other are identified and appropriately applied to day-to-day work
  3. Insurance industry terminology and vocabulary are used in the correct context
  4. Trends and technology in the insurance industry are monitored on an ongoing basis to inform personal work practices
  5. Insurance organisation-specific policies, procedures and processes are identified, clarified where necessary, and applied
Sources of information on the structure and functions of the insurance industry are identified and accessed according to workplace policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Broad structures of the insurance industry and their relationship with each other are identified and appropriately applied to day-to-day work

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance industry terminology and vocabulary are used in the correct context

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Trends and technology in the insurance industry are monitored on an ongoing basis to inform personal work practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance organisation-specific policies, procedures and processes are identified, clarified where necessary, and applied

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and apply an understanding of government Acts and regulations relevant to the insurance industry

  1. Statutory insurance industry principles, obligations and compliance requirements of a loss assessor are interpreted and complied with
  2. Reporting requirements and procedures are identified
  3. Requirements under privacy law are identified, clarified where necessary, and complied with
Statutory insurance industry principles, obligations and compliance requirements of a loss assessor are interpreted and complied with

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reporting requirements and procedures are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Requirements under privacy law are identified, clarified where necessary, and complied with

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop and apply an understanding of loss assessment processes

  1. Knowledge of loss assessment processes, procedures and policy is interpreted
  2. Condition of vehicle compared to incident description is analysed to determine incident-related damage
  3. Conflict resolution principles are applied
  4. Statutory insurance industry principles, obligations and compliance requirements, and their relationship to identified vehicle damage are interpreted, clarified where necessary, and applied
  5. Automotive industry technical knowledge and experience are applied to determine accuracy of vehicle damage estimate to return the vehicle to pre-damage condition that conforms to manufacturer guidelines and industry standards
Knowledge of loss assessment processes, procedures and policy is interpreted

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Condition of vehicle compared to incident description is analysed to determine incident-related damage

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conflict resolution principles are applied

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Statutory insurance industry principles, obligations and compliance requirements, and their relationship to identified vehicle damage are interpreted, clarified where necessary, and applied

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Automotive industry technical knowledge and experience are applied to determine accuracy of vehicle damage estimate to return the vehicle to pre-damage condition that conforms to manufacturer guidelines and industry standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section

1. Develop and apply an understanding of the insurance industry

1.1 Sources of information on the structure and functions of the insurance industry are identified and accessed according to workplace policies and procedures

1.2 Broad structures of the insurance industry and their relationship with each other are identified and appropriately applied to day-to-day work

1.3 Insurance industry terminology and vocabulary are used in the correct context

1.4 Trends and technology in the insurance industry are monitored on an ongoing basis to inform personal work practices

1.5 Insurance organisation-specific policies, procedures and processes are identified, clarified where necessary, and applied

2. Develop and apply an understanding of government Acts and regulations relevant to the insurance industry

2.1 Statutory insurance industry principles, obligations and compliance requirements of a loss assessor are interpreted and complied with

2.2 Reporting requirements and procedures are identified

2.3 Requirements under privacy law are identified, clarified where necessary, and complied with

3. Develop and apply an understanding of loss assessment processes

3.1 Knowledge of loss assessment processes, procedures and policy is interpreted

3.2 Condition of vehicle compared to incident description is analysed to determine incident-related damage

3.3 Conflict resolution principles are applied

3.4 Statutory insurance industry principles, obligations and compliance requirements, and their relationship to identified vehicle damage are interpreted, clarified where necessary, and applied

3.5 Automotive industry technical knowledge and experience are applied to determine accuracy of vehicle damage estimate to return the vehicle to pre-damage condition that conforms to manufacturer guidelines and industry standards

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section

1. Develop and apply an understanding of the insurance industry

1.1 Sources of information on the structure and functions of the insurance industry are identified and accessed according to workplace policies and procedures

1.2 Broad structures of the insurance industry and their relationship with each other are identified and appropriately applied to day-to-day work

1.3 Insurance industry terminology and vocabulary are used in the correct context

1.4 Trends and technology in the insurance industry are monitored on an ongoing basis to inform personal work practices

1.5 Insurance organisation-specific policies, procedures and processes are identified, clarified where necessary, and applied

2. Develop and apply an understanding of government Acts and regulations relevant to the insurance industry

2.1 Statutory insurance industry principles, obligations and compliance requirements of a loss assessor are interpreted and complied with

2.2 Reporting requirements and procedures are identified

2.3 Requirements under privacy law are identified, clarified where necessary, and complied with

3. Develop and apply an understanding of loss assessment processes

3.1 Knowledge of loss assessment processes, procedures and policy is interpreted

3.2 Condition of vehicle compared to incident description is analysed to determine incident-related damage

3.3 Conflict resolution principles are applied

3.4 Statutory insurance industry principles, obligations and compliance requirements, and their relationship to identified vehicle damage are interpreted, clarified where necessary, and applied

3.5 Automotive industry technical knowledge and experience are applied to determine accuracy of vehicle damage estimate to return the vehicle to pre-damage condition that conforms to manufacturer guidelines and industry standards

Range Statement

This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below.

Terminology and vocabulary must include:

agreed value

assessments

certificates of insurance

claims

depreciation

excess

indemnity

market value

misrepresentation

mitigation

no claim:

bonus

discount

rating

non-disclosure

policy book

pool of funds

premium

pre-accident condition

product disclosure statement (PDS)

reinsurance

renewals

subrogation

underwriting

unreasonable or capricious grounds.

Trends and technology must include the following:

digital imaging

electronic-based researching and reporting

personal electronic devices, such as:

laptop

mobile phone

tablet.

Principles, obligations and compliance requirements must include:

Australian Prudential Regulatory Authority (APRA) regulations

Financial Services Reform (FSR) Act

General Insurance Code of Practice

Insurance Contracts Act, including:

duty of disclosure

utmost good faith

intellectual property principles and practice

Motor Vehicle Insurance and Repair Industry Code of Conduct

Commercial-In-Confidence practices

Competition and Consumer Act

privacy law

commonwealth, state or territory regulatory requirements

statutory changes to the criteria of the national WOVR.

Reporting requirements must include the following:

assessment report

WOVR information for total loss assessment.

Loss assessment processes, procedures and policy must include at least three of the following:

assessment report

WOVR

fraud indicator report

vehicle condition report.

Condition of vehicle must include the following:

direction of impact (DOI) appropriate to incident description

old and inconsistent damage

pre-accident condition and potential contributing factors.