Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Receive reinsurance claim

1.1 Receive and check information relating to facultative or treaty reinsurance claim

1.2 Check completeness of information

1.3 Confirm coverage of a claim, or series of claims, under specific customer, policy or treaty

2. Calculate recovery, including reinstatements

2.1 Calculate payment amount or amount outstanding according to organisational policy and procedures, and treaty and facultative obligations

2.2 Notify reinsurers of claim amount and details under relevant reinsurance arrangements

2.3 Request payment from reinsurer

2.4 Pass payment information on to appropriate staff, where required

2.5 Accurately record or enter on the system all claim information

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 1.3

• Analyses and consolidates information and data from a range of sources, against defined criteria and requirements, and checks for accuracy and completeness

Writing

2.2, 2.3, 2.4, 2.5

• Accurately records information and prepares correspondence and documentation using clear language and organisational formats and protocols

Oral Communication

2.2, 2.3, 2.4

• Effectively participates in verbal exchanges using collaborative and inclusive techniques including active listening and questioning to convey and clarify information

Numeracy

1.1, 1.2, 2.1

• Performs mathematical calculations to check financial data and to accurately process claims

Navigate the world of work

2.1

• Complies with explicit policies and procedures

Interact with others

2.2-2.4

• Uses a limited range of accepted practices for communicating in a work environment

Get the work done

1.1, 1.2, 1.3, 2.4

• Plans and implements routine tasks and workload, making limited decisions on sequencing, timing and collaboration, and seeking assistance in setting priorities
• Responds to predictable routine problems and implements standard or logical solutions
• Uses digital technologies to access, enter and store information required to complete work tasks

Reading

1.1, 1.2, 1.3

• Analyses and consolidates information and data from a range of sources, against defined criteria and requirements, and checks for accuracy and completeness

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSISV308 Process facultative and treaty reinsurance claims

FNSISV308A Process facultative and treaty reinsurance claims

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.