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Evidence Guide: FNSPIM406A - Develop and maintain knowledge of personal injury management insurance

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

 

FNSPIM406A - Develop and maintain knowledge of personal injury management insurance

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

Advise clients on the varying characteristics of personal injury management insurance

  1. The characteristics of personal injury management insurance are identified
  2. Strengths, weaknesses, terms and conditions of personal injury management insurance are understood and communicated to clients where applicable
  3. An appropriate promotional strategy is accessed and applied in business activities
The characteristics of personal injury management insurance are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Strengths, weaknesses, terms and conditions of personal injury management insurance are understood and communicated to clients where applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

An appropriate promotional strategy is accessed and applied in business activities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine compliance implications of personal injury management insurance for client

  1. Compliance implications are established and documented
  2. Client is provided with all necessary information and documentation as per compliance requirements
Compliance implications are established and documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Client is provided with all necessary information and documentation as per compliance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain current knowledge of the varying characteristics of personal injury management insurance

  1. Relevant personal injury management insurance is reviewed regularly and any changes to terms and conditions identified and applied in daily work
  2. Systems for keeping up with changes and maintaining up-to-date knowledge about relevant personal injury management insurance are put in place
  3. Emerging trends affecting the industry are continually reviewed and applied to knowledge of personal injury management insurance
Relevant personal injury management insurance is reviewed regularly and any changes to terms and conditions identified and applied in daily work

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Systems for keeping up with changes and maintaining up-to-date knowledge about relevant personal injury management insurance are put in place

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Emerging trends affecting the industry are continually reviewed and applied to knowledge of personal injury management insurance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain an understanding of personal injury management premium systems

  1. Maintain knowledge of how industry classification rates are set and allocated to an employer, and factors affecting industry classification rates
  2. Maintain knowledge of premium formula, impact of its elements on employer premium and actuarial reasoning behind the formula
  3. Maintain knowledge of alternate premium options and when and why an employer could use them
Maintain knowledge of how industry classification rates are set and allocated to an employer, and factors affecting industry classification rates

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain knowledge of premium formula, impact of its elements on employer premium and actuarial reasoning behind the formula

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain knowledge of alternate premium options and when and why an employer could use them

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

interpret and comply with industry and organisation obligations and objectives including relevant legislative requirements

deal with questions relating to all aspects of the business and policy issues that arise for clients

effectively manage policy and product data and information

identify and present on issues of relevance to clients.

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

setting and reviewing workplace projects and business simulations or scenarios.

Guidance information for assessment

Required Skills and Knowledge

Required skills

highly developed communication skills to:

determine and confirm information, using questioning and active listening as required

interpret client information needs

provide clear presentation of complex information

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

assess application of data to client needs

order and classify information

use internet information

well-developed literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

research and analysis skills for accessing and interpreting relevant information

organisation skills, including the ability to plan and sequence work

Required knowledge

current personal injury management sector policies and products

insurance industry trends and developments

insurance management systems

insurance promotional programs

premium classification rates and systems

Range Statement

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.

Personal injury management insurance may include:

legislated or voluntary insurance covering worker or personal injury

workers compensation insurance under relevant State or Territory legislation.

Clients may include:

employers or other policy holders and their representatives

health professionals

insurers.

Compliance implications may include:

compliance with relevant State or Territory legislation

impact on policy terms and conditions

regulations, standards and codes of practice in relation to personal injury.

Emerging trends may include:

accident and health

economic

environmental

financial

political.

Classification rates may include:

calculated rates

industry risk factors by sector and type

predetermined rates by industry sector.

Premium formula may include:

conditions for variation

pre determined formula.