This unit is only available to students in Singapore. 
Skills Unit
BR30005-00

Negotiate Broking Client Claims (Singapore)


This unit provides the skills and knowledge required to negotiate client claim settlements with insurers.

This unit is aimed at insurance professionals who work in small or large broking businesses dealing with retail and/or commercial clients. It will develop the interpersonal, analytical and communication skills required to research and analyse a client’s claim against their insurance policy, identify and clarify points of difference and crucial issues, develop a case, and negotiate a claims settlement with the insurer on the client’s behalf.

10 CIP Points
Negotiate Broking Client Claims (Singapore)
AUD $425
Insurance Broking
5-week Study Period
10 Credit Points
Specialised

What you'll learn

By the end of this unit, you should be able to:

  • analyse and compare a client’s claim against their policy
  • identify points of difference and crucial issues
  • prepare and submit a case and negotiate a settlement with the insurer
  • communicate the terms of settlement to the client
  • update and maintain required files and records.

Competencies

FNSIBK512 Negotiate complex claims settlement for insurance broking client

Topics Covered

  • 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 
  • Representing clients’ interests and managing expectations throughout
  • Negotiating settlement agreements 
  • Understanding the negotiation quadrant 
  • Planning and carrying out the negotiation 
  • Preparing and calculating the insurer’s offer of settlement 
  • Calculating the insurer’s offer of settlement 
  • Managing clients’ expectations 
  • Settling offers outside negotiation 
  • Paying claims in anticipation of settlement 
  • Identifying and resolving solvency issues 
  • Maintaining a claim file and recording a loss that cannot be claimed 
  • Closing a file

Assessment

1 Exams and 1 Simulations

 

10 CIP Points
Negotiate Broking Client Claims (Singapore)
AUD $425
Insurance Broking
5-week Study Period
10 Credit Points
Specialised