Provide Advice in Insurance Broking
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 provide insurance broking advice to clients. It includes analysing a client’s insurance needs to provide ethical and professional advice that complies with industry regulations and codes of practice.
It applies to individuals who use well-developed interpersonal, communication and self-management skills and general insurance knowledge to perform a specialist advisory role in insurance broking and address the needs of both retail and wholesale clients.
What you'll learn
- Identify, establish, and analyse a client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions.
- Present appropriate strategies and solutions to a client and negotiate a financial plan, policy, or transaction.
- Obtain client’s formal agreement to confirmed plan, policy, or transaction and ensure they understand fees, cost structures, and timeframes for execution and processing.
- Agree to and implement arrangements for providing ongoing service.
FNSASICY513 Providing advice in insurance broking
- Week 1: The big picture
- Week 2: Assessing risk
- Week 3: Developing an insurance strategy
- Week 4: Finalising the plan
1 Exam and 1 Simulations