Skills Unit
BR30014-20

Managing Broking Client Claims

This unit describes the skills and knowledge required to handle routine retail insurance claims. It includes organising and analysing information to establish probable cause and policy coverage, determining the quantum of claims, and assessing settlement options.

10 CIP Points
Managing Broking Client Claims
AUD $425
Insurance Broking
5-week Study Period
10 Credit Points
Specialised

It applies to individuals who use well-developed interpersonal, analytical and communication skills in organisations of various sizes and across a range of retail insurance customer bases.

What you'll learn

  • Analyse insurance claim to determine validity
  • Monitor progress of insurance claim 
  • Determine scope of insurance claim and settlement options
  • Provide claims response to the insured
  • Finalise and document settlement decisions.

Competencies

FNSISV408 Manage handling and settlement of routine insurance claims for retail clients

Topics Covered

  • The role of the broker
  • Understanding legislation and codes of practice
  • Retail clients
  • The insurance policy and its response
  • Organisation policies and procedures
  • The claims process
  • Notifying the insurer
  • Communicating with the client
  • The cause of loss
  • Looking after the client
  • Fraud
  • Negotiating terms and conditions of settlement
  • Terms of settlement
  • Indemnity
  • The complaints process
  • Reinstating the sum insured
  • Settlement funds
  • Subrogation
  • Finalising and documenting settlement decisions

Assessment

2 Exams and 1 Simulation

 

10 CIP Points
Managing Broking Client Claims
AUD $425
Insurance Broking
5-week Study Period
10 Credit Points
Specialised