Modification History
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Release |
Comments |
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Release 5 |
This version first released with the FNS Financial Services Training Package Version 8.2. Omitted prerequisite units table reinstated. |
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Release 4 |
This version first released with the FNS Financial Services Training Package Version 8.1. Unit BSBSLS502 Lead and manage a sales team removed from Team and organisation electives. |
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Release 3 |
This version first released with the FNS Financial Services Training Package Version 8.0. Native elective units of competency were updated and/or superseded. 1 unit removed from elective unit list. |
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Release 2 |
This version first released with FNS Financial Services Training Package Version 6.0. Release created to reflect updated units of competency. |
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Release 1 |
This version first released with FNS Financial Services Training Package Version 5.0. |
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 this qualification or any currently endorsed Certificate IV or above training package qualification or accredited course.
Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, not duplicate the outcome of another unit chosen for the qualification, and contribute to a valid industry-supported 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
Claims management
FNSIBK522 Negotiate complex claims settlement for insurance broking clients
FNSISV405 Analyse insurance claims
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 services
FNSINC513 Identify and apply complex ethical decision making to workplace situations
FNSINC514 Apply ethical frameworks and principles to make and act upon decisions
FNSSAM521 Apply advanced techniques to provide financial products and services
Finance
BSBFIN501 Manage budgets and financial plans
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 use financial statistics and tools
FNSRSK511 Undertake risk identification
FNSRSK512 Assess risks
Team and organisation
BSBLDR522 Manage people performance
BSBPEF501 Manage personal and professional development
BSBTWK502 Manage team effectiveness
*Note the following prerequisite unit requirements.
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UNIT IN THIS QUALIFICATION |
PREREQUISITE UNITS |
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FNSASICY513 Provide advice in insurance broking |
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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
