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Evidence Guide: FNSILA504 - Negotiate and effect settlement

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

 

FNSILA504 - Negotiate and effect settlement

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

Prepare for negotiation

  1. Accurately identify all relevant issues and options for settlement in advance
  2. Obtain additional information to support identified options from relevant sources and parties
  3. Carry out cost–benefit analysis on various options identified
  4. Document and accurately prepare settlement options in professional format prior to negotiations, and in accordance with client or organisational policy and guidelines and with relevant legislation or codes of practice
Accurately identify all relevant issues and options for settlement in advance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain additional information to support identified options from relevant sources and parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Carry out cost–benefit analysis on various options identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document and accurately prepare settlement options in professional format prior to negotiations, and in accordance with client or organisational policy and guidelines and with relevant legislation or codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Attend meetings with involved parties

  1. Document and accurately prepare all information and data needed for settlement meetings in professional format prior to meetings
  2. Arrange and conduct meetings of involved parties in orderly, courteous and professional manner to ensure resolution of issues and settlement
  3. Accurately document and promptly convey outcomes of meetings between involved parties to clients and all other parties
  4. Promptly make available, where appropriate, all documents and information processed as part of loss adjustment activities to other involved parties
Document and accurately prepare all information and data needed for settlement meetings in professional format prior to meetings

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Arrange and conduct meetings of involved parties in orderly, courteous and professional manner to ensure resolution of issues and settlement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately document and promptly convey outcomes of meetings between involved parties to clients and all other parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Promptly make available, where appropriate, all documents and information processed as part of loss adjustment activities to other involved parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Represent clients in cases where disputation arises

  1. Represent clients or organisational interests satisfactorily and provide all relevant documents and information to other involved parties
  2. Manage disputations courteously and professionally to ensure best and most expeditious outcome for clients or organisations at minimum monetary and other costs
Represent clients or organisational interests satisfactorily and provide all relevant documents and information to other involved parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage disputations courteously and professionally to ensure best and most expeditious outcome for clients or organisations at minimum monetary and other costs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Prepare for negotiation

1.1 Accurately identify all relevant issues and options for settlement in advance

1.2 Obtain additional information to support identified options from relevant sources and parties

1.3 Carry out cost–benefit analysis on various options identified

1.4 Document and accurately prepare settlement options in professional format prior to negotiations, and in accordance with client or organisational policy and guidelines and with relevant legislation or codes of practice

2. Attend meetings with involved parties

2.1 Document and accurately prepare all information and data needed for settlement meetings in professional format prior to meetings

2.2 Arrange and conduct meetings of involved parties in orderly, courteous and professional manner to ensure resolution of issues and settlement

2.3 Accurately document and promptly convey outcomes of meetings between involved parties to clients and all other parties

2.4 Promptly make available, where appropriate, all documents and information processed as part of loss adjustment activities to other involved parties

3. Represent clients in cases where disputation arises

3.1 Represent clients or organisational interests satisfactorily and provide all relevant documents and information to other involved parties

3.2 Manage disputations courteously and professionally to ensure best and most expeditious outcome for clients or organisations at minimum monetary and other costs

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Prepare for negotiation

1.1 Accurately identify all relevant issues and options for settlement in advance

1.2 Obtain additional information to support identified options from relevant sources and parties

1.3 Carry out cost–benefit analysis on various options identified

1.4 Document and accurately prepare settlement options in professional format prior to negotiations, and in accordance with client or organisational policy and guidelines and with relevant legislation or codes of practice

2. Attend meetings with involved parties

2.1 Document and accurately prepare all information and data needed for settlement meetings in professional format prior to meetings

2.2 Arrange and conduct meetings of involved parties in orderly, courteous and professional manner to ensure resolution of issues and settlement

2.3 Accurately document and promptly convey outcomes of meetings between involved parties to clients and all other parties

2.4 Promptly make available, where appropriate, all documents and information processed as part of loss adjustment activities to other involved parties

3. Represent clients in cases where disputation arises

3.1 Represent clients or organisational interests satisfactorily and provide all relevant documents and information to other involved parties

3.2 Manage disputations courteously and professionally to ensure best and most expeditious outcome for clients or organisations at minimum monetary and other costs

Evidence of the ability to:

undertake a cost–benefit analysis of a loss situation and recommend appropriate action

apply security practices and principles

use risk management and minimisation practices

develop a settlement document with options for consideration

maintain and apply up-to-date knowledge of the types and categories of insurance policies relevant to loss adjusting.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

explain the key features of:

claims management processes and procedures

recovery processes

relevant policy coverage and requirements

salvage and disposal methods

subrogation

types and categories of insurance policies

identify and describe the key features of:

insurance and contract law principles

loss adjusting principles and practice

relevant legislation and industry codes of practice

risk management and minimisation principles and techniques.