Cash Settling Standards for Claims Handling
This short course will provide insurance professionals understanding of the Australian Financial Services Licensee (AFSL) obligations and how to appropriately work with the option to cash settle claims. Students will understand best practices to create a cultural focus on honesty, fairness and transparency within the insurance industry.
Who should take the course
- Any person where part of or all, of their function includes services deemed to be relevant to the provision of Claims Handing and Settling Services
- Insurance fulfilment providers
- Claims managers
- Insurance brokers with Claims Handling and Settling Services authorisation
- Authorised representatives of an Australian Financial Services Licensee (AFSL) holder with Claims Handling and Settling Services authorisation.
What you'll learn
- Understand high level Australian Financial Services licensee (AFSL) obligations
- Identify ways to maintain a claims culture of fairness, honesty and efficiency when cash settling claims
- Understand the impact on a customer when cash settling claims
- Determine best practices when offering to cash settle.
The Subject Matter Expert Gerard Patterson, Youi's Senior Legal Counsel, says, 'They will develop a high-level understanding of the Australian Financial Service Licence obligations, which includes the obligation to maintain a culture of efficiency, honesty and fairness in handling claims.' Read the full article - New ANZIIF course brings clarity to cash settlement obligation
- Introduction (with short knowledge check)
- Understanding cash settlement
- Cash Settlement Fact Sheet
- Claims handling best practices
- Test - 3 questions.