Modification History
|
Release |
Comments |
|
Release 1 |
This version first released with FNS Financial Services Training Package Version 5.0. |
|
Release 2 |
This version first released with FNS Financial Services Training Package Version 6.0. Release created to reflect updated units of competency. |
Qualification Description
This qualification reflects the role of insurance brokers working in a range of organisations, including professional insurance broking advisers. Individuals performing this role assist individuals and businesses to identify their risks, and recommend how these risks can be managed using insurance and other risk management strategies. 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.
The advice services provided in this role may be 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.
Licensing, legislative, regulatory or certification considerations
Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Relevant regulatory authorities should be consulted to confirm those requirements before applying the qualification.
Entry Requirements
Nil
Packaging Rules
Total number of units = 11
7 core units plus
4 elective units , of which:
- at least 2 must be from the elective units listed below
- up to 2 may be from any currently endorsed training package qualification or accredited course at AQF Level 4 or above, provided they do not duplicate the outcome of another unit chosen for the qualification.
Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, and contribute to a valid vocational outcome.
Core units
FNSASICY513 Provide advice in insurance broking*
FNSIBK415 Meet compliance requirements relating to insurance broking
FNSIBK416 Deliver insurance broking services
FNSIBK518 Implement changes to insurance programs of broking clients
FNSIBK523 Prepare submissions for new insurance broking business
FNSIBK524 Manage complex risk portfolios for insurance broking clients
FNSISV408 Manage handling and settlement of routine insurance claims for retail clients
Elective units
Customer service and sales
BSBMKG541 Identify and evaluate marketing opportunities
BSBMKG543 Plan and interpret market research
BSBOPS505 Manage organisational customer service
FNSCUS504 Manage premium customer relationships
FNSINC412 Apply and maintain knowledge of financial products and servicesFNSINC503 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
Finance
BSBFIN501 Manage budgets and financial plans
Claims management
FNSIBK522 Negotiate complex claims settlement for insurance broking clients
FNSISV405 Analyse insurance claims
Information management
BSBINS401 Analyse and present research information
Operations
BSBAUD516 Develop and monitor processes for the management of breaches in compliance requirements
BSBOPS502 Manage business operational plans
BSBSTR502 Facilitate continuous improvement
FNSIBK517 Review insurance broking service performance
FNSIBK525 Monitor insurance broking client programs
Risk management
BSBOPS504 Manage business risk
FNSINC612 Interpret and apply financial statistics and tools
FNSRSK511 Undertake risk identification
FNSRSK512 Assess risks
Team and organisation
BSBLDR522 Manage people performance
BSBPEF501 Manage personal and professional development
BSBSLS502 Lead and manage a sales team
BSBTWK502 Manage team effectiveness
*Note the following prerequisite unit requirements.
|
Unit in this qualification |
Prerequisite unit |
|
FNSASICY513 Provide advice in insurance broking |
FNSIBK416 Deliver insurance broking services FNSIBK518 Implement changes to insurance programs of broking clients FNSIBK523 Prepare submissions for new insurance broking business |
Qualification Mapping Information
No equivalent qualification. Supersedes and is not equivalent to FNS51215 Diploma of Insurance Broking.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe
