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 for individuals working as insurance brokers within a range of organisations. It supports the role of the professional insurance broking adviser who assists individuals and businesses identify their risks and recommends how these can be managed using insurance and other risk management strategies.
Individuals in these roles may specialise in providing advice services to retail, business or large corporate consumers and may deal with a variety of types of insurances provided by the general and life insurance sectors in servicing client needs. They 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.
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 = 10
7 core units plus
3 elective units
The elective units consist of:
- 2 from the electives below
The remaining unit may be from:
- the electives below, or
- a 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
FNSIBK406 Deliver professional insurance broking services
FNSIBK507 Review service performance
FNSIBK508 Implement changes to broking client's insurance program
FNSIBK512 Negotiate complex claims settlement for insurance broking client
FNSIBK513 Prepare submission for new business
FNSIBK514 Manage complex risk portfolio for a broking client
FNSIBK515 Monitor broking client requirements and establish loss control programs
Elective Units
ASIC Tier 1
FNSASICY503* Provide advice in insurance broking
Customer service and sales
BSBCUS501 Manage quality customer service
BSBMKG501 Identify and evaluate marketing opportunities
FNSCUS504 Manage premium customer relationships
FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector
FNSINC503 Identify situations requiring complex ethical decision making
FNSINC504 Apply ethical frameworks and principles to make and act upon decisions
FNSSAM501 Apply advanced selling techniques to selling of financial products and services
FNSSAM502 Assess market needs
FNSSAM503 Monitor market opportunities
Finance
BSBFIM501 Manage budgets and financial plans
Information management
BSBRES401 Analyse and present research information
BSBINM501 Manage an information or knowledge management system
Operations
BSBCOM503 Develop processes for the management of breaches in compliance requirements
BSBMGT516 Facilitate continuous improvement
BSBMGT517 Manage operational plan
Risk management
BSBRSK501 Manage risk
FNSRSK501 Undertake risk identification
FNSRSK502 Assess risks
FNSINC602 Interpret and use financial statistics and tools
Team and organisation
BSBWOR501 Manage personal work priorities and professional development
BSBWOR502 Lead and manage team effectiveness
BSBMGT502 Manage people performance
BSBSLS502 Lead and manage a sales team
*Note the following prerequisite unit requirements:
|
Unit in this qualification |
Prerequisite unit |
|
FNSASICY503 Provide advice in insurance broking |
FNSIBK406 Deliver professional insurance broking services FNSIBK508 Implement changes to broking client’s insurance program FNSIBK513 Prepare submission for new business |
Qualification Mapping Information
|
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
|
FNS51215 Diploma of Insurance Broking (Release 3) |
FNS51215 Diploma of Insurance Broking (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
