Provide Professional Insurance Broking Services and Advice
This unit describes the skills and knowledge required to deliver all aspects of the insurance broking service to clients. It includes dealing with the initial enquiry for insurance broking services, identifying and implementing an appropriate insurance programme, dealing with a client’s insurance claim and providing follow up services. It also describes the skills and knowledge required to analyse a client’s insurance needs and provide advice ethically and professionally, in compliance with industry regulations and codes of practice.
The unit applies to individuals who use high-level communication and clerical skills to provide broking assistance and a range of client services, including risk advice that requires specialist knowledge. Individuals may work in small or large brokerage organisations dealing with retail and/or commercial clients.
This unit provides you with some of the underpinning knowledge and skills required for providing general insurance advice in accordance with accepted standards and best practice principles (refer to www.ibanz.co.nz)
What you'll learn
- 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
- Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction
- Provide insurance programme for broking client
- Agree to 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.
- Week 1: Generic insurance knowledge
- Week 2: Establishing relationships with clients
- Week 3: How insurance works and collecting client information
- Week 4: General insurance products and clients solution
- Week 5: Providing advise and recommendations to clients
- Week 6: Handling and settling claims
1 Exam and 1 Simulation