Deliver Professional Insurance Broking Services

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 deliver insurance broking services to clients. It includes responding to client enquiries for broking services, undertaking risk assessments, and establishing arrangements for providing ongoing services.

The unit applies to those who use well-developed communication and administrative skills when providing broking assistance in a range of client services. Individuals may work in small or large brokerage organisations dealing with retail and/or commercial clients.

What you'll learn

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

• Respond to client enquiries for broking services
• Establish relationship with client and identify client’s objectives, needs and financial situation
• Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions
• Undertake risk assessments and conduct market research to determine the most suitable product to meet risk exposure
• Present appropriate strategies and solutions to client and negotiate financial an insurance plan, policy or transaction
• Provide an insurance program for broking client
• Agree to an insurance plan, policy or transaction and complete documentation
• Place client insurances and confirm cover with client
• Provide ongoing service where requested by client
• Provide a claims service to broking client

Competencies

FNSIBK416 Deliver professional insurance broking services