Prepare Submissions for New Insurance Broking Business
This unit is one of the four units required for ASIC RG146 Tier 1 Insurance Broking Compliance.
This unit describes the skills and knowledge required to determine and prepare submissions for new insurance broking business. This unit has application to both life and general insurance brokers and is applicable to submissions prepared for wholesale and retail clients. It covers the provision of general and personal advice in the context of preparing a submission to retail clients.
It applies to individuals who are skilful communicators and use analytical skills and specialist product knowledge to work effectively with clients.
What you'll learn
- Determine client and resource requirements
- Develop a client and risk profile
- Identify a suitable insurance program and market availability
- Make a submission to a client.
FNSIBK523 Prepare a submission for new insurance broking business
- The role of the broker and legal responsibilities
- Broking services
- Developing a client and product risk profile
- Underwriting submissions and negotiating with insurers
- Preparing and presenting the submission
2 Exams and 2 Simulations