Manage Changes to a Broking Client's Insurance Program
This unit is one of the four units required for ASIC RG146 Tier 1 Insurance Broking Compliance.
This unit describes the skills and knowledge required to identify and implement insurance program changes for an insurance broking client, including undertaking a review of the existing portfolio and insurance history. It also involves making changes following a prior review of the client’s personal and/or business needs.
The unit applies to both general and life insurance brokers who provide advice to wholesale and retail clients.
What you'll learn
- Identify required risk changes to insurance program
- Negotiate change with insurers
- Obtain client instructions for program amendments
- Agree to arrangements for providing ongoing service
FNSIBK518 Implement changes to insurance programs of broking clients