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Qualification details

FNS40510 - Certificate IV in Personal Injury Management (Underwriting) (Release 2)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes FNS41007 - Certificate IV in Financial Services (Workers Compensation) 23/Nov/2010
Is superseded by FNS41915 - Certificate IV in Personal Injury ManagementUpdated to meet Standards for Training packages. Three qualifications merged to replace: FNS40310 Certificate IV in Personal Injury Management (Claims Management) FNS40410 Certificate IV in Personal Injury Management (Return to Work) FNS40510 Certificate IV in Personal Injury Management (Underwriting) 24/Mar/2015

Releases:
ReleaseRelease date
2 (this release) 18/Jul/2013
(View details for release 1) 24/Nov/2010

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
BSBCUS301B - Deliver and monitor a service to customersDeliver and monitor a service to customersElective
FNSISV402A - Underwrite new businessUnderwrite new businessN/A
FNSCRD403A - Manage and recover bad and doubtful debtsManage and recover bad and doubtful debtsN/A
FNSPIM501A - Develop a return to work and health strategyDevelop a return to work and health strategyN/A
BSBFLM303C - Contribute to effective workplace relationshipsContribute to effective workplace relationshipsN/A
FNSPIM407A - Register policyRegister policyN/A
FNSPIM403A - Educate clients on personal injury management issuesEducate clients on personal injury management issuesN/A
FNSINC401A - Apply principles of professional practice to work in the financial services industryApply principles of professional practice to work in the financial services industryN/A
FNSISV404A - Underwrite renewal businessUnderwrite renewal businessN/A
FNSPIM410A - Collect, assess and use informationCollect, assess and use informationN/A
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 611211 Insurance Agent 
ASCO (occupation type) Identifier 5993-11 Insurance Agent 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 
Qualification/Course Level of Education Identifier 511 Certificate IV 
Taxonomy - Industry Sector N/A Superannuation,Financial Services 
Taxonomy - Occupation N/A Personal Injury Underwriting Agent 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 611211 Insurance Agent 24/Nov/2010 
ASCO (occupation type) Identifier 5993-11 Insurance Agent 24/Nov/2010 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 24/Nov/2010 
Qualification/Course Level of Education Identifier 511 Certificate IV 24/Nov/2010 
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Modification History

Release 

Comments 

Release 2 

This version first released with FNS10 Financial Services Training Package version 5.0.

Update imported units:

BSBCUS301A to BSBCUS301B.

Qualification outcomes remain unchanged.

Release 1 

This qualification first released with FNS10 Financial Services Training Package version 1.0.

Description

This qualification reflects job roles requiring well-developed skills and a broad knowledge base in a wide variety of contexts within the personal injury management sector. It may involve supervision or leadership and guidance with some limited responsibility for the policy processing of others. Possible work functions may include:

  • evaluating new underwriting business within a large organisation
  • working as an underwriting agent
  • coordinating new underwriting business
  • managing an underwriting team
  • settling policy payments and terminations
  • assessing risk in relation to new business within policy guidelines
  • negotiating terms and conditions with clients within policy guidelines
  • leading and supporting a team

Pathways Information

Pathways into the qualification 

The primary pathway into this qualification is employment in the personal injury management sector that may relate to job roles within:

  • workplace injury insurance
  • CTP insurance

Pathways from the qualification 

A further learning pathway utilising qualifications such as FNS50110 Diploma of Personal Injury Management would support career progression.

Licensing/Regulatory Information

There is no direct link between this qualification and licensing, legislative and/or regulatory requirements. However, where required, a unit of competency will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit.

Entry Requirements

Not applicable.

Employability Skills Summary

The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

EMPLOYABILITY SKILLS QUALIFICATION SUMMARY

Employability Skill

Industry/enterprise requirements for this qualification include:

Communication

  • actively consulting stakeholders and seeking client feedback
  • developing and writing reports to specifications
  • fostering client stakeholder relationships and providing a high level of customer service and relationship management
  • presenting cases at conciliation conferences/courts/tribunals and reviewing hearings
  • using effective high level written and oral skills to mediate, negotiate and facilitate resolutions

Teamwork

  • working effectively within a multi-disciplinary team
  • working with a wide range of experts inside and outside the organisation, such as senior underwriters and risk assessors

Problem solving

  • analysing and assessing a client's underwriting proposal
  • collecting, comparing and contrasting data
  • developing and implementing payment schedules
  • using dispute resolution techniques
  • using judgement and decision making skills

Initiative and enterprise

  • developing innovative approaches to prepare client portfolio’s within guidelines
  • matching employer's requirements and legislative requirements and or policy terms and conditions

Planning and organising

  • conducting initial assessments, and developing and monitoring clients’ compensation underwriting portfolio’s
  • developing and implementing contingency management strategies to keep clients informed or new and additional risks
  • monitoring, reviewing and closing policies
  • preparing for hearings
  • researching clients' educational needs and documenting information
  • using and maintaining systems, records and reporting procedures

Self-management

  • applying underwriting management skills
  • managing own time and priorities and dealing with contingencies
  • representing organisation in a professional manner at hearings and court cases
  • working ethically and complying with all industry codes of practice and legislative requirements

Learning

  • advising policy holders on rehabilitation and return to work services
  • arranging induction and training for workers within the underwriting team
  • ensuring capacity to interpret and apply legislation
  • maintaining currency of knowledge of legislation, injury management models and related services

Technology

  • conducting web searches and using corporate templates
  • using business technology such as computers, and word processing and document management software
  • using presentation equipment and materials
  • using research data devices and telecommunication devices and equipment

Packaging Rules

13 units  must be achieved.

4 core units 

9 elective units 

  • at least 5 elective units of competency must be selected from the elective bank below
  • a minimum of 2 electives must be selected from units aligned to Certificate IV qualifications in FNS10 Financial Services or another endorsed Training Package
  • a maximum of 2 electives can be selected from units aligned to Diploma qualifications in any endorsed Training Package or accredited course
  • a maximum of 2 electives can be selected from units aligned to Certificate III qualifications in any endorsed Training Package or accredited course.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.

Core units of competency: 

  • BSBCUS301B Deliver and monitor a service to customers
  • FNSINC401A Apply principles of professional practice to work in the financial services industry
  • FNSPIM303A Work within the personal injury management sector
  • FNSPIM406A Develop and maintain knowledge of personal injury management insurance

Elective units of competency: 

  • BSBFLM303C Contribute to effective workplace relationships
  • BSBMGT401A Show leadership in the workplace
  • BSBRES401A Analyse and present research information
  • BSBWOR404B Develop work priorities
  • FNSCRD403A Manage and recover bad and doubtful debts
  • FNSCUS402A Resolve disputes
  • FNSISV401A Evaluate risk for new business
  • FNSISV402A Underwrite new business
  • FNSISV404A Underwrite renewal business
  • FNSPIM403A Educate clients on personal injury management issues
  • FNSPIM407A Register policy
  • FNSPIM408A Renew and maintain policy
  • FNSPIM410A Collect, assess and use information
  • FNSPIM501A Develop a return to work and health strategy