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Evidence Guide: FNSISV303 - Issue contract of insurance

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

 

FNSISV303 - Issue contract of insurance

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

Identify and clarify customer’s request

  1. Identify customer’s requirements
  2. Elicit all necessary information from customer
  3. Gather data on insurance proposal within timelines required by organisation
  4. Apply underwriter’s terms and conditions
  5. Verify risk information advised by customer
  6. Implement survey requirements, if applicable
Identify customer’s requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Elicit all necessary information from customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Gather data on insurance proposal within timelines required by organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply underwriter’s terms and conditions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify risk information advised by customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement survey requirements, if applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Issue insurance contact

  1. Specify terms and conditions of contract in line with organisational guidelines, policy and procedures
  2. Refer decision to appropriate person if request falls outside organisational guidelines
  3. Complete and review contract documentation to ensure it meets legislative requirements
  4. Check contract for accuracy and omissions according to operating procedures
  5. Issue cover note, quote or new insurance contract following organisational operating procedures, and despatch to customer
  6. File contract documentation accurately in accordance with operating procedures
  7. Cancel policy and despatch documentation to customer, if requested by customer
Specify terms and conditions of contract in line with organisational guidelines, policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer decision to appropriate person if request falls outside organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete and review contract documentation to ensure it meets legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check contract for accuracy and omissions according to operating procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Issue cover note, quote or new insurance contract following organisational operating procedures, and despatch to customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File contract documentation accurately in accordance with operating procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Cancel policy and despatch documentation to customer, if requested by customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and clarify customer’s request

  1. Identify customer’s requirements
  2. Elicit all necessary information from customer
  3. Gather data on insurance proposal within timelines required by organisation
  4. Apply underwriter’s terms and conditions
  5. Verify risk information advised by customer
  6. Implement survey requirements, if applicable
Identify customer’s requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Elicit all necessary information from customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Gather data on insurance proposal within timelines required by organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply underwriter’s terms and conditions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify risk information advised by customer

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement survey requirements, if applicable

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. Identify and clarify customer’s request

1.1 Identify customer’s requirements

1.2 Elicit all necessary information from customer

1.3 Gather data on insurance proposal within timelines required by organisation

1.4 Apply underwriter’s terms and conditions

1.5 Verify risk information advised by customer

1.6 Implement survey requirements, if applicable

2. Issue insurance contact

2.1 Specify terms and conditions of contract in line with organisational guidelines, policy and procedures

2.2 Refer decision to appropriate person if request falls outside organisational guidelines

2.3 Complete and review contract documentation to ensure it meets legislative requirements

2.4 Check contract for accuracy and omissions according to operating procedures

2.5 Issue cover note, quote or new insurance contract following organisational operating procedures, and despatch to customer

2.6 File contract documentation accurately in accordance with operating procedures

2.7 Cancel policy and despatch documentation to customer, if requested by customer

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. Identify and clarify customer’s request

1.1 Identify customer’s requirements

1.2 Elicit all necessary information from customer

1.3 Gather data on insurance proposal within timelines required by organisation

1.4 Apply underwriter’s terms and conditions

1.5 Verify risk information advised by customer

1.6 Implement survey requirements, if applicable

2. Issue insurance contact

2.1 Specify terms and conditions of contract in line with organisational guidelines, policy and procedures

2.2 Refer decision to appropriate person if request falls outside organisational guidelines

2.3 Complete and review contract documentation to ensure it meets legislative requirements

2.4 Check contract for accuracy and omissions according to operating procedures

2.5 Issue cover note, quote or new insurance contract following organisational operating procedures, and despatch to customer

2.6 File contract documentation accurately in accordance with operating procedures

2.7 Cancel policy and despatch documentation to customer, if requested by customer

Evidence of the following must be provided:

interpret and apply relevant legislation accurately

identify and clarify the customer’s request

issue insurance contract according to organisational and legislative requirements

update documentation and systems according to organisational procedures.

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 basic compliance requirements for this industry sector

outline organisational and departmental policy, procedures and authorities as they relate to contracts of insurance

explain the wording of insurance policies in terms of the organisation and industry sector

outline organisational information technology and communication systems used to process insurance policies

explain the interpretation of applicable ratings

identify and describe insurance products available to customers

outline the relevant industry legislation and regulations that apply to insurance policies

explain underwriter terms and conditions

explain survey requirements to gather and analyse appropriate information to issue contracts of insurance.