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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

1. Evaluate status of claims portfolio
   • Identify organisation’s expectations for claims portfolio performance
   • Analyse and evaluate claims portfolio data and information to identify trends and determine status of portfolio
   • Research industry to determine benchmarks for claims portfolios
2. Recommend changes to claims portfolio, policy and/or procedures, as required
   • Identify changes to portfolio, policy and procedures to improve portfolio performance and minimise claims losses
   • Document all changes and update records in compliance with organisational policy and procedures
3. Prepare status report
   • Prepare accurate and timely claims portfolio reports to document status and trends, where appropriate
   • Make recommendations on improvements to claims portfolio
4. Communicate findings to key stakeholders
   • Communicate promptly information which impacts on various portfolios to stakeholders according to organisational procedures
5. Review status report findings
   • Use feedback from stakeholders to review key findings and recommendations
   • Document all feedback and subsequent amendments to status report and record according to organisational policy and procedures

Performance Evidence

Evidence of the ability to:

effectively apply planning, data collection, analysis, communication and report writing skills to the interpretation and evaluation of the status of a claims portfolio

accurately interpret charts, graphs and statistical information

research industry trends in portfolio management to reduce losses

prepare claims portfolio reports to document status and trends of the portfolio.

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:

explain and apply data analysis techniques relevant to claims portfolios

explain and apply evaluation methodologies

describe industry trends in insurance portfolio management

outline organisational policy, procedures, underwriting guidelines and levels of authority relating to claims portfolios

outline key features of relevant legislation, regulatory guidelines and industry sector codes of practice relating to claims management and reporting

explain risk prevention and loss minimisation methods and application in the development of claims portfolios

define types and categories of insurance policies.

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