Application
This unit describes the skills and knowledge required to provide general advice on general insurance products to retail clients in an insurance broking context, applicable to new or renewal clients.
It applies to individuals who are proficient communicators and who provide information and advice of a general nature about insurance products.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Deal with initial client enquiry for general insurance | 1.1 Use appropriate communication skills to clarify if client’s product enquiry falls within general advice category according to legislative and organisational requirements 1.2 Assist client to accurately complete necessary initial documentation 1.3 Provide clear information to client on regulatory restrictions applying to provision of general insurance product advice 1.4 Refer client to appropriate personnel within brokerage where required advice is deemed to fall outside category of general advice |
2. Prepare general advice to client | 2.1 Gather, record and consolidate information relevant to providing general advice on relevant product or service |
3. Provide general advice | 3.1 Deliver general advice to client according to regulatory restrictions and organisational policy and procedures 3.2 Provide client with information on available insurance products and insurance market using relevant documentation 3.3 Demonstrate appropriate product and industry knowledge when providing general advice to client |
Evidence of Performance
Evidence of the ability to:
identify clients who require general or personal advice
follow broking procedures to prepare and provide general advice
access appropriate documentation required to deliver general advice, both verbally and in writing.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must:
explain the difference between general advice and personal advice, and the significance of this difference in the performance of the client advice role in an insurance brokerage
outline the application of relevant legislative and organisational compliance to the requirements in relation to provision of general advice to broking clients
explain the use of marketing and disclosure documents in performing the general advice role
describe the process of interpreting the suitability of a range of retail products to broking clients
describe the role of different advisers within the brokerage and the limited responsibility applying to advisers providing retail consumers with general insurance advice.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the insurance broking field of work and include access to:
common office equipment, technology, software and consumables
organisational records.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 2.1 | Researches and interprets information from various sources in a range of formats to determine appropriate products |
Writing | 1.2, 2.1 | Records and consolidates information relevant to the insurance product Produces or updates documents using clear and simple terminology appropriate to client needs |
Oral Communication | 1.1-1.3, 3.2, 3.3 | Speaks clearly using language, tone and pace appropriate for the audience and purpose Uses active listening and questioning to clarify and confirm understanding |
Navigate the world of work | 1.1, 1.3, 1.4, 3.1 | Follows legislative requirements and organisational protocols, policy and procedures relevant to own role Develops and maintains knowledge of products, legislation and regulations required for own role |
Interact with others | 1.2, 1.4, 3.1 | Follows accepted communication practices and protocols, adjusting personal communication style in response to the particular needs, values, beliefs and cultural expectations of others Implements strategies to establish a sense of connection and build rapport with clients |
Get the work done | 2.1, 3.1-3.3 | Plans, organises and implements tasks, aiming to complete them efficiently and in accordance with organisational requirements Uses the main features and functions of digital tools to complete work tasks |
Sectors
Insurance broking