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Elements and Performance Criteria

1. Respond to client enquiries for broking services
   • Establish relationship with client and identify nature of broking services required to satisfy enquiry
   • Clarify information and research activities required to prepare appropriate and timely response
   • Determine relevant legislative and organisational requirements to be met in dealing with enquiry
   • Collect and process information and prepare response
   • Communicate information to client in suitable format that minimises need for follow up action
   • Update organisational records to satisfy organisational policy and guidelines
2. Provide insurance program for broking client
   • Determine client’s insurance needs by undertaking assessment of client’s objectives and current risk situation
   • Identify changes to client’s current insurance program by thorough analysis of information collected and discussions with client
   • Negotiate with insurers as required to obtain terms for renewal and change of client’s insurances as required
   • Communicate outcomes of negotiations and detailed information on options available to client
   • Make recommendations to client and obtain client instructions to enable precise actions to be taken
3. Place client insurances and confirm cover with client
   • Notify details of cover required to insurers and obtain confirmation of interim cover in response to client instructions
   • Check interim cover for accuracy and completeness, and confirm with client
   • Complete required documentation accurately, and confirm premiums and statutory imposts prior to issuing instructions for completion of cover to insurer
   • Check insurer’s documentation for omissions and errors prior to making record of confirmed insurance cover
   • Remit premiums to insurers in accordance with organisational guidelines and legislative requirements
   • Update relevant files and records
4. Provide a claims service to broking client
   • Register client’s claim in accordance with organisational guidelines
   • Advise insurers and obtain necessary claims documentation
   • Provide assistance to clients to provide accurate and complete information on claims documentation when required
   • Request reinstatement of sum insured from insurer where required and advise client of reinstatement
   • Review terms and conditions of policy and advise clients of claims administration process and their legislative rights and obligations
   • Assist client to appoint independent claims service providers where required
   • Maintain contact with all insurer and independent service providers to ensure reports and issues dealt with promptly
   • Notify client of insurer’s terms of settlement and provide recommendations for client review
   • Remit settlement funds to client according to organisational procedures, and update files and records promptly
5. Provide ongoing services where requested by client
   • Respond to client requests in line with organisational service standards to maximise business retention
   • Offer additional benefits to clients based on review of client information and external conditions

Performance Evidence

Evidence of the ability to:

provide responses to a range of enquiries to satisfy client needs and achieve organisational outcomes

use organisational tools to collect, analyse and record information to provide broking services, including risk assessments and insurance claims

access and complete documentation

prepare timely, well-presented and accurate information to insurers and clients.

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

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

outline the application of organisational policy, procedures and authorities for broking and dealing with client enquiries, particularly those leading to the provision of personal advice

describe the application of service processes and standards that the adviser takes responsibility for in relation to information collection and risk assessment, placing client insurances, providing claims assistance and undertaking post-sales client contact

describe the application of insurance and risk plans for typical retail and/or commercial client situations and risk profiles

summarise the key requirements of relevant legislation and industry codes of practice requirements that the adviser takes responsibility for in the provision of insurance broking services

describe the analysis of a range of insurance product or policy types, and their terms and conditions and cost and fee structures, for use in providing advice to retail clients.

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