Modification History
|
Release |
Comments |
|
Release 3 |
This version released with FNS Financial Services Training Package version 3.0 Release 3 created to update elective unit list |
|
Release 2 |
This version released with FNS Financial Services Training Package version 1.1 Release 2 created to correct typographical error |
|
Release 1 |
This qualification first released with FNS Financial Services Training Package version 1.0 |
Qualification Description
This qualification is designed to reflect a range of the job roles with team and business result responsibilities in general insurance industry environments. Individuals in these roles have autonomy in performing technical operations, apply solutions to a range of often complex problems, and research, analyse and evaluate information from a variety of sources. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others. Work may include claims management, investigation and portfolio management.
Licensing/Regulatory Information
Work functions in the occupational areas where this qualification 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.
Entry Requirements
Nil.
Packaging Rules
Total number of units = 12
2 core units plus
10 elective units
The elective units consist of:
- up to 10 from the electives below
- up to 2 may be from a Diploma in any currently endorsed training package or accredited course
- up to 2 may be from an Advanced Diploma in any currently endorsed training package or accredited course.
The elective units chosen must be relevant to the work outcome and meet local industry needs.
Core Units
FNSINC401 Apply principles of professional practice to work in the financial services industry
FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector
Elective Units
Claims management
FNSISV507 Implement claim recovery procedures
FNSISV508 Review and advise on claims costs, policies and procedures
FNSISV510 Manage non-routine and complex claims
FNSISV511 Settle non-routine and complex claims
FNSISV512 Work with legal teams to resolve complex claims
FNSISV513 Provide decisions on legal liability and indemnity of a claim
FNSISV514 Review and update claim reserves in portfolio
FNSISV515 Evaluate and report on status of claims portfolio
Underwriting management
FNSISV501 Issue contracts of insurance covering non-routine and complex situations
FNSISV502 Review operational performance of the portfolio
FNSISV504 Negotiate treaty reinsurance
FNSISV505 Determine risk rating for investment and insurance products
ASIC Tier 1 Compliance
FNSASICN503 Provide Tier 1 personal advice in general insurance
FNSASICO503 Provide Tier 1 general advice in general insurance
Client relationship management
BSBCUS501 Manage quality customer service
FNSCUS501 Develop and nurture relationships with clients, other professionals and third party referrers
FNSCUS502 Monitor client requirements
FNSCUS503 Review business performance
FNSCUS504 Manage premium customer relationships
FNSCUS505 Determine client requirements and expectations
FNSCUS506 Record and implement client instructions
FNSINC503 Identify situations requiring complex ethical decision making
FNSINC504 Apply ethical frameworks and principles to make and act upon decisions
Risk management
BSBWHS404 Contribute to WHS hazard identification, risk assessment and risk control
FNSRSK501 Undertake risk identification
FNSRSK502 Assess risks
FNSISV503 Undertake post-loss risk management
Investigation
FNSISV506 Investigate claims
Sales and marketing
BSBSLS501 Develop a sales plan
FNSSAM501 Apply advanced selling techniques to selling of financial products and services
FNSSAM502 Assess market needs
FNSSAM503 Monitor market opportunities
General
BSBRES401 Analyse and present research information
BSBSUS501 Develop workplace policy and procedures for sustainability
FNSCUS402 Resolve disputes
FNSIAD501 Provide appropriate services, advice and products to clients
FNSINC501 Conduct product research to support recommendations
FNSISV516 Allocate authorities and guidelines for distribution
Qualification Mapping Information
|
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
|
FNS51115 Diploma of General Insurance (Release 3) |
FNS51115 Diploma of General Insurance (Release 2) |
Updates to elective unit list |
Equivalent qualification |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe
