Enrol Now Diploma of Loss Adjusting (FNS15) FNS51415


Developed for employees already practising loss adjusting and who are ready to take the next step in their career. The Diploma of Loss Adjusting includes comprehensive course material developed by highly-regarded loss adjusters. It is essential for those seeking expertise and a qualification in the specialist area of claims assessment. Completion provides Senior Associate Certified Insurance Professional (CIP) membership of the Institute. Participants have rated the Diploma as highly relevant for those working as loss adjusters and in the claims environment. 

Students must be currently employed to complete the Workplace Observation form included in the Business Fundamentals Unit.

Course Structure

To be awarded the Diploma, students must complete nine core modules. It is suggested that most modules will encompass 50-70 hours of study time. 

Financial Services Training Package (FNS20) Update

As a result of the FNS20 training package update, ANZIIF is required to update its qualifications from 2 February 2022. View the transition document.

You will be impacted by the changes and should follow the transition document if you are:

  - an existing student who will not be able to complete the Diploma in a 2021 study period or,

  - a new student commencing the Diploma from now to December 2021.


AICLA 

The compulsory modules from the Diploma is also the basis for membership advancement within the Australian Institute of Chartered Loss Adjusters (AICLA). It fulfills the education requirements for:

  • the AICLA Certificate in Loss Adjusting Practice and AICLA Affiliate membership by successful completion of LA501, LA502, LA503 and LA504. To learn more please contact AICLA at [email protected].

Pre-requisites

None

Membership Pathway

Senior Associate

Price

AUD $915 per module
AUD $425 CL20001-15 unit
AUD $425 LA20001-15 unit

Compulsory Modules

  • LA501-15 Introduction to Loss Adjusting

    Covers how the loss adjusting industry has evolved and the roles, responsibilities and the key skills required of a loss adjuster, including the parties they may deal with. This module will also cover general insurance and the legal knowledge a loss adjuster needs to possess, the key elements of a loss adjuster’s terms of engagement and the steps involved in the loss adjusting process.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • explain how the loss adjusting industry has evolved
    • describe the current trends in the loss adjusting industry in Australia and New Zealand
    • identify and explain the typical role and responsibilities of a loss adjuster
    • describe the key skills required by a loss adjuster
    • identify and describe the key parties a loss adjuster may deal with
    • describe the general insurance and legal knowledge a loss adjuster needs to possess
    • list the key elements of a loss adjuster’s terms of engagement
    • identify and explain the steps in the loss adjusting process.

    Competencies

    • FNSCUS505 Determine client requirements and expectations

    Price

    Australia AUD $915
    Overseas AUD $630
    New Zealand NZD $960
    Emerging Market AUD $630

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

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  • LA502-15 Loss Adjusting Practice

    Concentrates on the types of instructions received by loss adjusters, the terms of reference and how they impact on the loss adjusting assignment, and the steps involved in planning loss adjusting investigation. This module also covers the key techniques used when collecting and analysing evidence, the steps involved in validating a claim and establishing quantum, and recovery rights and demands.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • describe the types of instructions received by loss adjusters and from whom
    • define terms of reference and explain how they impact on the loss adjusting assignment
    • identify and explain the steps involved in planning the loss adjusting investigation
    • describe the key techniques used when collecting and analysing evidence
    • identify and explain the steps involved in validating a claim
    • identify and explain the steps involved in establishing quantum
    • define recovery rights and explain how to issue a recovery demand
    • identify the key sources of recovery rights
    • identify and explain the steps involved in reporting findings of the loss adjusting investigation
    • explain the types of guidance provided by loss adjusters and to whom.

    Competencies

    • FNSILA501 Plan and implement loss investigation
    • FNSILA502 Evaluate collected information
    • FNSILA503 Report findings and provide guidance to involved parties

    Price

    Australia AUD $915
    Overseas AUD $630
    New Zealand NZD $960
    Emerging Market AUD $630

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

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  • LA503-15 Property and Casualty Loss Adjusting

    This module looks at the role of the loss adjuster in relation to property claims, the purpose of property cover and loss, insurable interest, property policies, the cover provided and issues relating to property cover. Students will also study the reasons for physical measurement or photographic evidence when verifying loss, interviewing processes of an insured, types of combustions, fire spreads, common causes of ignition and evidence of forced entry in a fire loss. Also covered is commercial stock loss, the insured and insurers rights in loss mitigation, the purpose of casualty cover and the effects of a casualty loss.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • explain the concept of property loss covering insurable interest and its practical implications
    • explain the various property policies and related conditions including relevant insurance principles
    • explain the role of the loss adjuster in processing a property claim
    • explain the role of the loss adjuster in the investigation and verification of property claims
    • explain the strategies used in the investigation process
    • explain the issues specifically related to fire and stock losses
    • explain the insured’s and insurer’s rights and obligations in regard to loss mitigation and the loss adjusters role
    • explain the purpose and key principles of casualty insurance
    • describe the legal liabilities that may arise in casualty loss
    • describe the types of casualty policies available and related issues
    • explain the role of the loss adjuster in processing a casualty claims
    • describe the steps required to verify a loss and precautions to be taken
    • describe the principles of third party losses
    • explain the role and duties of the loss adjuster in mitigating loss.

    Competencies

    • FNSILA505 Provide ancillary services

    Price

    Australia AUD $915
    Overseas AUD $630
    New Zealand NZD $960
    Emerging Market AUD $630

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

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  • LA504-15 Loss Adjusting Law and Regulation

    Explains why loss adjusters need to know about the law, including researching the law, the legal system, how laws are developed and interpreted, underlying legal concepts, applying relevant laws, regulations, codes and principles.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • explain why loss adjusters need to know about the law
    • describe the process of researching the law
    • describe the legal system that operates within Australia and New Zealand
    • explain how laws are developed and interpreted
    • outline underlying legal concepts
    • explain and apply relevant laws and regulations
    • explain and apply relevant codes and principles.

    Competencies

    • BSBCOM603 Plan and establish compliance management systems

    Price

    Australia AUD $915
    Overseas AUD $630
    New Zealand NZD $960
    Emerging Market AUD $630

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

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  • LA505-15 Managing Operations

    Covers the characteristics of loss adjusting businesses, including their scope, operations and client groups. Students will look at how the role of the manager contributes to the effective operational management of an organisation and the purpose and characteristics of business plans. This module will also cover the process of developing business plans and the key steps involved in monitoring operational performance.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • describe the characteristics of loss adjusting businesses currently in the market, including their scope or operations and client groups
    • explain how the role of the manager contributes to the effective operational management of an organisation
    • explain the purpose and characteristics of business plans
    • describe the process of developing business plans
    • describe the process of recruiting appropriate staff to achieve business plans
    • explain how appropriate physical resources and equipment are identified and systems are put in place to ensure the business plan is achieved
    • describe the key steps involved in monitoring operational performance.

    Competencies

    • BSBMGT517 Manage operational plan

    Price

    Australia AUD $915
    Overseas AUD $630
    New Zealand NZD $960
    Emerging Market AUD $630

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

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  • LA506-15 Negotiating Effective Settlements

    Examines how negotiation applies to loss adjusting, including the skills needed for successful negotiation, and analysing the cost-benefit on settlement options. Students will also learn to document and administer negotiation meetings, and the key options for resolving negotiation disputes.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • explain how negotiation applies to loss adjusting
    • identify the key skills needed to effect successful negotiation
    • identify the key parties to a loss adjusting negotiation and their relationship
    • identify and support relevant issues and settlement options
    • perform cost benefit analysis on identified settlement options
    • prepare necessary documentation for negotiation meetings
    • undertake arrangement for negotiation meetings with all parties
    • identify key issues relating to negotiation meetings
    • conduct negotiation meetings
    • document and follow up meeting outcomes
    • identify and apply the key options for resolving negotiation disputes.

    Competencies

    • FNSILA504 Negotiate and effect settlement

    Price

    Australia AUD $915
    Overseas AUD $630
    New Zealand NZD $960
    Emerging Market AUD $630

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

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  • LABF51-15 Business Fundamentals for Loss Adjusting

    This online unit describes the role of good customer service in building and maintaining the profitability of your organisation. The unit also describes how to identify, model and meet expected industry professional approaches to procedures, guidelines, policies, standards and ethical requirements.

    In addition, this unit describes how to contribute to the implementation of strategies to control occupational health and safety risks.

    This module has a workplace assessment in the form of a Workplace Skills Observation (WPO). The WPO is due within 6 weeks of you completing the online assessment. Download the Workplace Skills Observation Form. 

    Learning Outcomes

    When you have completed this unit, you should be able to:

    • identify the scope, sectors and responsibilities of the industry
    • identify and apply financial services industry guidelines, procedures and legislation
    • identify sustainability issues for the financial services industry
    • manage information
    • participate in and facilitate work team activities
    • plan work to be completed, taking into consideration:
      • time
      • resources
      • other constraints
    • develop and maintain personal competency.

    This unit also describes how to contribute to the implementation of strategies to control occupational health and safety risks.

    Competencies

    • BSBWHS404 Contribute to WHS hazard identification, risk assessment and risk control
    • FNSINC401 Apply principles of professional practice to work in the financial services industry

    Duration

    Open

    Pass Grade: 75

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Compulsory Skills Units

  • CL20001-15 Analyse insurance claims

    This unit provides the skills and knowledge required to receive, investigate, analyse, document and determine the validity of a client’s insurance claim. It is aimed at insurance claims professionals who work in small or large insurance businesses dealing with retail and / or commercial clients.

    Developing their research, critical thinking and communication skills, students will learn how to efficiently collect and collate all applicable information relating to a client’s claim. During this process, they will identify and obtain any new information required while maintaining strict confidentiality.

    The unit will also cover the importance of investigating a client’s claim to determine its validity and eligibility in relation to the client’s insurance policy. Students will be taught how to effectively create and maintain documentation as well as how to communicate with the client and all other internal and external stakeholders throughout the claims process.   

    Learning Outcomes

    On completion of this unit, students will be able to effectively:

    • obtain, investigate and collate all information on a client’s insurance claim
    • analyse and determine the validity of a client’s insurance claim
    • develop and maintain applicable business reports and records
    • communicate the status of the claim and other applicable information to all relevant stakeholders. 

    Competencies

    • FNSISV405 Analyse insurance claims

    Price

    Australia AUD $425
    Overseas AUD $425
    Emerging Market AUD $425

    Duration

    Skills Unit (5 weeks)

    CIP Points

    10

    Assessment

    Assessment for this Unit includes an exam and 1 case-based interactive scenario.

    For more information, visit Skills Unit Assessment.

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  • LA20001-15 Inspect damage and develop scope of work

    This unit provides the skills and knowledge required to inspect and assess a vehicle or property for claimable damage and provide a recommendation for the scope of work required. It is aimed at professionals who work in small or large insurance, or loss adjusting businesses dealing with retail and / or commercial clients.  

    Students will be taken through a number of real-life scenarios where they will have the opportunity to inspect and identify the vehicle or property damage, conduct a site inspection and risk assessment, consult and obtain third party expert opinions, collate all information, and develop a damage report and scope of work required for the insurer. 


    Learning Outcomes

    On completion of this unit, students will be able to effectively: 

    • inspect and assess a vehicle or property for damage
    • consult with and obtain third party expert opinions
    • determine the extent of the damage and document it in a damage report
    • develop and submit to the insurer the recommended scope of work. 

    Competencies

    • FNSIGN404 Inspect damage and develop scope of work

    Price

    Australia AUD $425
    Overseas AUD $425
    Emerging Market AUD $425

    Duration

    Skills Unit (5 weeks)

    CIP Points

    10

    Assessment

    Assessment for this Unit includes an exam and 1 case-based interactive scenario.

    For more information, visit Skills Unit Assessment.

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