Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSISV303A Mapping and Delivery Guide
Issue contract of insurance

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSISV303A - Issue contract of insurance
Description This unit describes the performance outcomes, skills and knowledge required to gather necessary information and issue a new policy/contract of insurance in response to requests for quotes, new policies, or interim cover (cover note) in standard situations. It also covers cancelling a policy at the customer's request.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit applies to job roles in a range of insurance sectors and may be applied within organisations of various sizes and across a range of customer bases.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Identify and clarify the customer's request
  • Customer's requirements are identified
  • All necessary information is elicited from the customer
  • Data on insurance proposal is gathered within timelines required by organisation
  • Underwriter's terms and conditions are applied
  • Risk information advised by client is verified
  • Survey requirements are implemented if applicable
       
Element: Issue insurance contact
  • Terms and conditions of contract are specified in line with organisation guidelines, policies and procedures
  • If request falls outside the organisation guidelines, decision is referred to the appropriate person
  • Contract documentation is completed and reviewed to ensure it meets legislative requirements
  • Contract is checked for accuracy and omissions according to operating procedures
  • Cover note, quote, or new insurance contract is issued following organisation operating procedures and dispatched to customer
  • Contract documentation is accurately filed in accordance with operating procedures
  • If requested by customer, policy is cancelled and documentation dispatched to customer
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

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 apply relevant legislation

identify and clarify the customer's request

issue insurance contract.

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.

Guidance information for assessment

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Required skills

communication skills to:

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

relate to customers

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform calculations related to achieving required outcomes

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

access and update records electronically

access web-based information services

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

organisational skills, including the ability to plan and sequence work

Required knowledge

basic industry sector compliance requirements

organisation and departmental policy, procedures and authorities

organisation and industry sector policy wording

organisation IT and communication systems

interpretation of applicable ratings

relevant insurance product knowledge

relevant industry legislation

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.

Risk information may include:

claims history

driving and/or accident history

locality

and other information relating to the particular contract.

Survey requirements may include:

risk improvement requirements.

Documentation includes:

amendments

certificate of insurance

cover notes

invoices

policy notices.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Customer's requirements are identified 
All necessary information is elicited from the customer 
Data on insurance proposal is gathered within timelines required by organisation 
Underwriter's terms and conditions are applied 
Risk information advised by client is verified 
Survey requirements are implemented if applicable 
Terms and conditions of contract are specified in line with organisation guidelines, policies and procedures 
If request falls outside the organisation guidelines, decision is referred to the appropriate person 
Contract documentation is completed and reviewed to ensure it meets legislative requirements 
Contract is checked for accuracy and omissions according to operating procedures 
Cover note, quote, or new insurance contract is issued following organisation operating procedures and dispatched to customer 
Contract documentation is accurately filed in accordance with operating procedures 
If requested by customer, policy is cancelled and documentation dispatched to customer 

Forms

Assessment Cover Sheet

FNSISV303A - Issue contract of insurance
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSISV303A - Issue contract of insurance

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: