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Evidence Guide: FNSIBK522 - Negotiate complex claims settlement for insurance broking clients

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

 

FNSIBK522 - Negotiate complex claims settlement for insurance broking clients

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

Establish content of complex claim

  1. Review terms and conditions of insurance policy with client
  2. Advise client on potential claim recovery
  3. Identify non-insured items and potential issues
Review terms and conditions of insurance policy with client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise client on potential claim recovery

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify non-insured items and potential issues

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate matters relating to complex claim

  1. Identify type of claim and establish applicable type of negotiation based on variation to standard claims settlement
  2. Prepare grounds for negotiation according to legislative and organisational requirements
  3. Negotiate terms and conditions of settlement with insurer, representing client interests
  4. Obtain and review negotiated agreement with insurer
Identify type of claim and establish applicable type of negotiation based on variation to standard claims settlement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare grounds for negotiation according to legislative and organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate terms and conditions of settlement with insurer, representing client interests

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain and review negotiated agreement with insurer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise complex claim settlement

  1. Prepare and document details of insurer’s settlement offer with recommendations for client review and acceptance
  2. Obtain client’s response to settlement offer according to organisational procedures
  3. Update business records according to organisational procedures
Prepare and document details of insurer’s settlement offer with recommendations for client review and acceptance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain client’s response to settlement offer according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Update business records according to organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

negotiate complex claims settlements for at least two different insurance broking clients.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and industry compliance requirements that impact client rights and obligations when negotiating complex claims

organisational policies and procedures relating to negotiating complex claims settlement for insurance broking clients, including for managing the claims process on behalf of clients and:

obtaining client responses to settlement offers

using insurance broking systems and procedures

features of insurance contract terms and conditions

roles and responsibilities of broker in negotiating complex claims

key aspects of underwriter’s claims dispute resolution process

techniques to interpret and analyse client’s needs, including key trends of client’s business environment

processes for preparing grounds for negotiation and for negotiating complex insurance claims

communication strategies to advise clients throughout negotiation process

insurance fundamentals and methods to interpret, comprehend and apply policy wording.