This unit is only available to students in Singapore. Enrolments for the IBF Standards Training Scheme is on hold. We are currently not taking enrolments. An update will be provided here when more is known.
Skills Unit
BR30005-00
Negotiate broking client claims (Singapore)
This unit describes the skills and knowledge required to research, organise, identify points of difference, clarify the crucial issues and present a case in negotiating terms and conditions of claims settlements for insurance broking clients.
It applies to individuals who use well-developed interpersonal, analytical and communication skills within organisations of various sizes and across a range of customer bases.
10 CIP Points
Negotiate broking client claims (Singapore)
AUD $425
Insurance Broking
General Insurance
5-week Study Period
10 Credit Points
Specialised
What you'll learn
By the end of this unit, you should be able to:
- establish content of claims
- negotiate terms and conditions of settlement
- notify terms of settlement to client
- update relevant files and records
Competencies
FNSIBK512 Negotiate complex claims settlement for insurance broking client
Topics Covered
Week 1
- Providing advice about claims
- Establishing the right to make a claim
- Determining the cause of loss
- Considering direct and indirect causes
- Meeting the burden of proof
- Choosing between repair and replacement
Week 2
- Understanding your role during a claim
- Mazimisation of claims
- Representing clients’ interests
- Negotiating settlement agreements
- Understanding the negotiation quadrant
- Planning for negotiation
- Carrying out the negotiation
- Dealing with unfavourable outcomes
Week 3
- Preparingthe insurer's offer of settlement
- Calculating the insurer’s offer of settlement
- Managing clients’ expectations
- Settling offers outside negotiation
- Remitting settlement funds
Week 4
- Dealing with payment delay
- Paying claims in anticipation of settlement
- Identifying solvency issues
- Resolving solvency issues
- Keeping effective records
- Maintaining a claim file
- Collating documents to support a claim
- Recording a loss that cannot be claimed
- Closing a file
Assessment
1 Exams and 1 Simulations