Application
This unit describes the knowledge and skills required to establish and use strategic networks to support the insurance broking role of senior brokers in specialist and management roles. It includes identifying features of required strategic networks, identifying or establishing network links with key stakeholders and building strategic collaborative relationships.
It applies to individuals who use well-developed networking, interpersonal, written and web-based communication skills within organisations of various sizes across a range of customer bases. Individuals may use networks for technical support, for business development and to identify as part of the insurance broking industry.
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. Identify relevant strategic networks | 1.1 Determine nature and scope of networks and collaboration required with reference to brokerage service guidelines and business plans 1.2 Undertake research to identify and assess benefits and limitations of existing networks and their relevance to broking role and broking business goals 1.3 Identify networks and key stakeholders based on client requirements, service delivery and/or broking business objectives |
2. Establish network and collaborative links with key stakeholders and individuals | 2.1 Prioritise collaborative relationships and networks on basis of their contribution to broking service role and business needs 2.2 Identify and initiate strategies to establish linkages with key networks and individuals, including peers 2.3 Establish working arrangements with selected networks and individuals within ethical framework |
3. Build strategic relationships to support and develop broking activity | 3.1 Develop protocols for ongoing collaborative activity 3.2 Apply mix of interpersonal and technology based approaches to support networking and collaborative activity 3.3 Use information obtained from networks and collaborative activity to address identified client requirements 3.4 Develop ongoing networking strategies in proactive manner to support and develop broking business |
4. Review networks and collaborative activity | 4.1 Establish criteria for reviewing effectiveness of networks and collaborative relationships 4.2 Apply criteria to review relative value of networks and collaborative activity to broking role and business objectives 4.3 Undertake cost–benefit analysis of networking and collaborative activity where appropriate 4.4 Use analysed results to inform future collaboration and networking activity and strategies |
Evidence of Performance
Evidence of the ability to:
apply wide ranging research skills to identify and evaluate potential networks and collaborative relationships against identified client and brokerage business needs
implement strategies to establish linkages and build relationships
apply information from networks and work undertaken in collaborative relationships to address client and business requirements
review results of networks and collaborations to determine future action plans.
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:
describe research activities designed to identify and analyse information on ethical standards, legal requirements and industry codes relevant to the insurance broking sector
outline leadership strategies that can be applied to the practical application of ethical standards in insurance broking
explain the process of benchmarking to monitor, review, analyse and diagnose ethical business practice
explain the application of conceptual thinking and reasoning skills in identifying ethical acceptable and unacceptable practices
outline the use of change management and innovation techniques to identify useful strategies to implement ethical standards.
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
organisational policy and procedures.
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 | 1.1, 1.2, 3.3 | Applies research skills to identify relevant and key information on networks and key industry stakeholders to develop business opportunities |
Oral communication | 2.3, 3.3 | Participates in verbal interactions using tone and language suitable to audience Employs high level interpersonal skills to develop and maintain professional relationships, and to access networks and make collaborative connections |
Navigate the world | 1.1, 2.1, 3.4, 4.1-4.4 | Works autonomously, making high level decisions to achieve and improve organisational goals Develops and implements strategies to ensure organisational goals are met within an ethical framework in developing collaborative relationships Sources information required to develop and maintain knowledge relevant to work role Evaluates the effectiveness of systems and processes to inform decisions on how to implement improvements |
Interact with others | 2.2, 3.1, 3.4 | Selects and uses appropriate conventions and protocols to gain and provide information, modifying personal communication style to take into account the particular needs of individuals Plays a lead role in situations requiring effective collaborative skills, demonstrating high level negotiation skills and the ability to influence others Applies high level problem-solving and innovation skills to develop ideas in collaborative working relationships |
Get the work done | 1.3, 3.2 | Makes high impact decisions in a complex and diverse environment, using input from a range of sources Uses digital technologies to maintain networks and access information essential to the broking role |
Sectors
Insurance broking