Release 

Comment 

Release 1

New unit of competency

ELEMENTS 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section

1. Develop and apply an understanding of the insurance industry

1.1 Sources of information on the structure and functions of the insurance industry are identified and accessed according to workplace policies and procedures

1.2 Broad structures of the insurance industry and their relationship with each other are identified and appropriately applied to day-to-day work

1.3 Insurance industry terminology and vocabulary  are used in the correct context

1.4 Trends and technology  in the insurance industry are monitored on an ongoing basis to inform personal work practices

1.5 Insurance organisation-specific policies, procedures and processes are identified, clarified where necessary, and applied

2. Develop and apply an understanding of government Acts and regulations relevant to the insurance industry

2.1 Statutory insurance industry principles, obligations and compliance requirements  of a loss assessor are interpreted and complied with

2.2 Reporting requirements  and procedures are identified

2.3 Requirements under privacy law are identified, clarified where necessary, and complied with

3. Develop and apply an understanding of loss assessment processes

3.1 Knowledge of loss assessment processes, procedures and policy  is interpreted

3.2 Condition of vehicle  compared to incident description is analysed to determine incident-related damage

3.3 Conflict resolution principles are applied

3.4 Statutory insurance industry principles, obligations and compliance requirements, and their relationship to identified vehicle damage are interpreted, clarified where necessary, and applied

3.5 Automotive industry technical knowledge and experience are applied to determine accuracy of vehicle damage estimate to return the vehicle to pre-damage condition that conforms to manufacturer guidelines and industry standards

Skills

Description

Reading skills to:

• apply loss assessment processes, procedures and policies
• interpret and apply statutory insurance industry principles, obligations and compliance requirements
• understand broad insurance industry structure, functions and relationships
• apply organisation-specific policies, procedures and processes.

Writing skills to:

• use common industry terminology
• compile reports, including vehicle assessment reports and Written-Off Vehicles Register (WOVR) information
• complete templates and proformas.

Oral Communication skills to:

• use insurance industry terminology and vocabulary
• engage with repairers and specialist providers
• engage with vehicle owners.

Numeracy skills to:

• interpret technical measurements
• determine accuracy of vehicle damage estimate.

Digital Literacy skills to:

• access insurance industry information.

Problem Solving skills to:

• clarify policy and privacy law discrepancies
• compare and analyse condition of vehicle to incident description to determine incident-related damage.

Terminology and vocabulary  must include:

• agreed value
• assessments
• certificates of insurance
• claims
• depreciation
• excess
• indemnity
• market value
• misrepresentation
• mitigation
• no claim:

• bonus
• discount
• rating

• non-disclosure
• policy book
• pool of funds
• premium
• pre-accident condition
• product disclosure statement (PDS)
• reinsurance
• renewals
• subrogation
• underwriting
• unreasonable or capricious grounds.

Trends and technology  must include the following:

• digital imaging
• electronic-based researching and reporting
• personal electronic devices, such as:

• laptop
• mobile phone
• tablet.

Principles, obligations and compliance requirements  must include:

• Australian Prudential Regulatory Authority (APRA) regulations
• Financial Services Reform (FSR) Act
• General Insurance Code of Practice
• Insurance Contracts Act, including:

• duty of disclosure
• utmost good faith

• intellectual property principles and practice
• Motor Vehicle Insurance and Repair Industry Code of Conduct
• Commercial-In-Confidence practices
• Competition and Consumer Act
• privacy law
• commonwealth, state or territory regulatory requirements
• statutory changes to the criteria of the national WOVR.

Reporting requirements  must include the following:

• assessment report
• WOVR information for total loss assessment.

Loss assessment processes, procedures and policy  must include at least three of the following:

• assessment report
• WOVR
• fraud indicator report
• vehicle condition report.

Condition of vehicle  must include the following:

• direction of impact (DOI) appropriate to incident description
• old and inconsistent damage
• pre-accident condition and potential contributing factors.

Release 

Comment 

Release 1

New unit of competency