Skills Unit
LI20003-20

Contribute to the sustainability of the life insurance industry

This unit describes the skills and knowledge required to identify and apply organisational procedures and policies, industry guidelines and regulations to day-to-day work, and contribute to the sustainability and continuity of the organisation and the life insurance industry.

10 CIP Points
Contribute to the sustainability of the life insurance industry
AUD $425
Claims Life and Retirement Income Insurance Broking
5-week Study Period
10 Credit Points
Intermediate
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Who should take the course

It applies to a broad range of people working in the life insurance industry, including individuals working in claims, underwriting, distribution and product management.

What you'll learn

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

  • Determine factors impacting work in and sustainability of the life insurance industry
  • Respond to key factors influencing each stage in the lifecycle of the life insurance product to inform your own work practices
  • Apply and maintain industry knowledge to support organisational sustainability

Competencies

FNSILF409 Apply knowledge of the life insurance industry to work tasks

Topics Covered

Week 1: Sustainability factors

  • explore factors that contribute to sustainability
  • find ways to achieve global and industry related sustainability goals
  • determine how insurance principles impact sustainability

Week 2: Life Insurance Cycle (our impacts)

  • explore the roles, processes and stages of the insurance life cycle
  • consider different perspectives of other roles in life insurance
  • determine how different factors impact life insurance stakeholders including organisational roles, the regulator and the perspective of customers
  • apply legislation and principles in the context of different roles in life insurance

Week 3: Sustainable organisations and roles

  • consider the life insurance impacts of customer experience and court rulings
  • discover ways to apply sustainable practices for yourself and others
  • apply learnings from customer experience data
  • commit to take action for self-directing learning
  • consider methods for dealing with tricky situations
  • decide how to implement proactive sustainability measures 

Week 4: Take sustainable action

  • identify incidences where insurance principles have been compromised
  • make sustainable decisions in the context of different life insurance roles
  • decide ‘what is the right thing to do?’ and ‘what are the impacts?’
  • consider options and implications for a range of sustainability issues

Assessment

1 Exam and 1 Simulation
10 CIP Points
Contribute to the sustainability of the life insurance industry
AUD $425
Claims Life and Retirement Income Insurance Broking
5-week Study Period
10 Credit Points
Intermediate
Enrol Now