NTISthis.com

Evidence Guide: FNSILA502 - Evaluate collected information

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSILA502 - Evaluate collected information

What evidence can you provide to prove your understanding of each of the following citeria?

Determine whether loss is covered by insurance or other criteria

  1. Accurately and thoroughly collect relevant evidence, facts and information
  2. Review insurance policy conditions to determine whether loss falls within policy coverage
Accurately and thoroughly collect relevant evidence, facts and information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review insurance policy conditions to determine whether loss falls within policy coverage

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply and analyse established facts

  1. Assess validity of claim against reported circumstances and policy specifications
  2. Accurately and consistently identify fraud indicators
  3. Apply appropriate analysis techniques, and prioritise and assess data thoroughly
  4. Document data analysis techniques and procedures, and record promptly and accurately
Assess validity of claim against reported circumstances and policy specifications

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately and consistently identify fraud indicators

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply appropriate analysis techniques, and prioritise and assess data thoroughly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document data analysis techniques and procedures, and record promptly and accurately

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine extent of loss, damage or injury

  1. Determine extent of liability and loss against available evidence and facts and in accordance with legislative and/or insurers, or client, or organisational policy and guidelines
  2. Ensure extent of loss or damage determined is consistent with assessment of and nature of claim, and is within legislative, insurer, client or organisational constraints
Determine extent of liability and loss against available evidence and facts and in accordance with legislative and/or insurers, or client, or organisational policy and guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure extent of loss or damage determined is consistent with assessment of and nature of claim, and is within legislative, insurer, client or organisational constraints

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish recovery rights

  1. Identify all other contributory insurances
  2. Identify and assess all cases for potential subrogation action
  3. Identify sources and rights of recovery and evaluate likelihood of recovery success
  4. Correctly issue recovery demands, where necessary
Identify all other contributory insurances

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and assess all cases for potential subrogation action

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify sources and rights of recovery and evaluate likelihood of recovery success

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Correctly issue recovery demands, where necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine whether loss is covered by insurance or other criteria

1.1 Accurately and thoroughly collect relevant evidence, facts and information

1.2 Review insurance policy conditions to determine whether loss falls within policy coverage

2. Apply and analyse established facts

2.1 Assess validity of claim against reported circumstances and policy specifications

2.2 Accurately and consistently identify fraud indicators

2.3 Apply appropriate analysis techniques, and prioritise and assess data thoroughly

2.4 Document data analysis techniques and procedures, and record promptly and accurately

3. Determine extent of loss, damage or injury

3.1 Determine extent of liability and loss against available evidence and facts and in accordance with legislative and/or insurers, or client, or organisational policy and guidelines

3.2 Ensure extent of loss or damage determined is consistent with assessment of and nature of claim, and is within legislative, insurer, client or organisational constraints

4. Establish recovery rights

4.1 Identify all other contributory insurances

4.2 Identify and assess all cases for potential subrogation action

4.3 Identify sources and rights of recovery and evaluate likelihood of recovery success

4.4 Correctly issue recovery demands, where necessary

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine whether loss is covered by insurance or other criteria

1.1 Accurately and thoroughly collect relevant evidence, facts and information

1.2 Review insurance policy conditions to determine whether loss falls within policy coverage

2. Apply and analyse established facts

2.1 Assess validity of claim against reported circumstances and policy specifications

2.2 Accurately and consistently identify fraud indicators

2.3 Apply appropriate analysis techniques, and prioritise and assess data thoroughly

2.4 Document data analysis techniques and procedures, and record promptly and accurately

3. Determine extent of loss, damage or injury

3.1 Determine extent of liability and loss against available evidence and facts and in accordance with legislative and/or insurers, or client, or organisational policy and guidelines

3.2 Ensure extent of loss or damage determined is consistent with assessment of and nature of claim, and is within legislative, insurer, client or organisational constraints

4. Establish recovery rights

4.1 Identify all other contributory insurances

4.2 Identify and assess all cases for potential subrogation action

4.3 Identify sources and rights of recovery and evaluate likelihood of recovery success

4.4 Correctly issue recovery demands, where necessary

Evidence of the ability to:

maintain and apply thorough knowledge of types and categories of insurance policies, industry codes of practice and relevant legislation

apply loss adjusting principles and practice to evaluate claims

effectively use data analysis and evaluation techniques to verify validity of claims.

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

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

outline the key features of:

business mathematics and statistics relevant to assessing insurance loss

data analysis techniques and procedures

identify and explain the key features of insurance loss, including:

claims management

insurable interest

loss adjusting principles and practice

policy coverage and requirements

principles of cost estimating, recovery and salvage methods

relevant contract and commercial law principles

relevant insurance law legislation and industry codes of practice

subrogation

types or categories of insurance policies

explain the key requirements of industry codes of practice and relevant legislation

identify the types and categories of insurance policies within the domain of insurance loss adjusting

identify the types of liabilities to be considered in assessing loss.