Skills Unit
BR30012-20

Provide Advice in Insurance Broking

This unit is one of the four units required for ASIC RG146 Tier 1 Insurance Broking Compliance.

10 CIP Points
Provide Advice in Insurance Broking
AUD $300
Insurance Broking
5-week Study Period
10 Credit Points
Intermediate
Enrol Now

This unit describes the skills and knowledge required to provide insurance broking advice to clients. It includes analysing a client’s insurance needs to provide ethical and professional advice that complies with industry regulations and codes of practice. 

It applies to individuals who use well-developed interpersonal, communication and self-management skills and general insurance knowledge to perform a specialist advisory role in insurance broking and address the needs of both retail and wholesale clients. 

What you'll learn

  • Identify, establish, and analyse a client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions.
  • Present appropriate strategies and solutions to a client and negotiate a financial plan, policy, or transaction. 
  • Obtain client’s formal agreement to confirmed plan, policy, or transaction and ensure they understand fees, cost structures, and timeframes for execution and processing.
  • Agree to and implement arrangements for providing ongoing service.

Competencies

FNSASICY513 Providing advice in insurance broking

Topics Covered

  • Week 1: The big picture
  • Week 2: Assessing risk
  • Week 3: Developing an insurance strategy
  • Week 4: Finalising the plan

Assessment

2 Exams and 1 Simulations

 

10 CIP Points
Provide Advice in Insurance Broking
AUD $300
Insurance Broking
5-week Study Period
10 Credit Points
Intermediate
Enrol Now