Managing broking client claims
This unit describes the skills and knowledge required to handle routine retail insurance claims. It includes organising and analysing information to establish probable cause and policy coverage, determining the quantum of claims, and assessing settlement options.
It applies to individuals who use well-developed interpersonal, analytical and communication skills in organisations of various sizes and across a range of retail insurance customer bases.
What you'll learn
- Analyse insurance claim to determine validity
- Monitor progress of insurance claim
- Determine scope of insurance claim and settlement options
- Provide claims response to the insured
- Finalise and document settlement decisions.
FNSISV408 Manage handling and settlement of routine insurance claims for retail clients
- The role of the broker
- Understanding legislation and codes of practice
- Retail clients
- The insurance policy and its response
- Organisation policies and procedures
- The claims process
- Notifying the insurer
- Communicating with the client
- The cause of loss
- Looking after the client
- Negotiating terms and conditions of settlement
- Terms of settlement
- The complaints process
- Reinstating the sum insured
- Settlement funds
- Finalising and documenting settlement decisions
1 Exam and 2 Simulations
See the Assessment and Academic Calendar pages for more information.