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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

Determine business objectives
Define markets and needs
- Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups
- Ensure cost-benefit analysis results are within plan projections
Determine products and services
- Assess likely future trends in selected markets
- Select a range of products or services to meet market needs and profit objectives
Identify and select distribution channels
- Identify current distribution channels and assess their advantages and disadvantages
- Choose channels according to objective criteria
Determine and establish enterprise structure
- Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided
- Assess alternatives against business objectives, potential markets and services to be provided
Establish performance measures
- Identify and document financial measures
- Establish timeframes, and determine and document processes to monitor performance outcomes
Document plan
- Integrate plan components into agreed format
- Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel

Performance Evidence

Evidence of the ability to:

conduct analysis of critical information required to develop a distribution plan including:

business objectives, products and services

markets and needs

distribution channels

performance measures

document distribution plan according to organisational requirements.

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

Knowledge Evidence

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

analyse and describe key client profiles

discuss key features of distribution and marketing approaches

identify expense ratios

identify financial metrics relevant to monitoring performance of the distribution network

identify and explain human resource trends in the context of the life insurance industry

identify and describe key markets to be served

outline organisational planning processes to service the life insurance business

analyse and describe key:

sales relating to market mix

sales relating to products

outline opportunities and strategies for maintaining and updating knowledge of available products and services.