Please contact Customer Service at [email protected] to enrol.
Skills Unit
GE1N001-20
Communicating and discussing options with clients (New Zealand)
10 CIP Points
Communicating and discussing options with clients (New Zealand)
NZD $270
General Insurance
Claims
Insurance Broking
5-week Study Period
10 Credit Points
Intermediate
What you'll learn
By the end of this learning pathway, you should be able to:
- develop appropriate strategies and solutions
- present appropriate strategies and solutions to client
- negotiate financial plan, policy or transaction with client
- coordinate implementation of agreed plan, policy or transaction
- complete and maintain necessary documentation
- provide ongoing service where requested by client
Competencies
FNSASIC302 - Develop, present and negotiate client solutions
Topics Covered
Week 1
- Introduction
- Your client relationship
- Identify your client’s needs
- Your new client — Zac Bellini
- Activity: Providing financial services
- Clear Results — retail or wholesale client?
- Five steps to provide a strategy and solution
- Identify the client’s needs
- The importance of effective communication
- Gathering information
- Activity: Obtain information from Zac
- The proposal
- Activity: Obtain information from Zac
- Client needs profile and Fact finder
- Client to complete the proposal
- Utmost good faith
- Activity: Utmost good faith
- Disclosure and misrepresentation
- Activity: Disclosure and misrepresentation
- Classify the client
- Complete the proposal
- Summary of week 1
Week 2
- Introduction to week 2
- Analyse information
- Analyse the level of risk
- Three steps in analysis
- Complete the proposal
- Clear Results’ risks
- Industry and product knowledge
- Your experience and product knowledge
- Maintaining product knowledge
- Product modelling
- Activity: Product competition
- Missing information
- Specialists
- Activity: Engaging the right specialist
- Authority limits
- Your level of authority
- Develop and present an insurance strategy and solution
- Underwriting guidelines
- Consult people and procedures
- Select the most appropriate product
- Develop a solution for Clear Results
- General advice
- Summary of week 2
Week 3
- Introduction to week 3
- Present the quotation
- Make a recommendation
- Key requirements when recommending a strategy and solution
- Explain product terms and conditions
- Hire car option
- Explain risks and exclusions
- Drivers’ declarations
- Exclusions — a similar scenario
- Negotiate agreement with the client
- Client concerns and misunderstanding
- Avoid misunderstanding
- Clarify Zac’s concern
- Activity: Agreed value
- Negotiate terms of the quotation
- Negotiation tips
- Amend the quotation
- Confirm client understanding
- Provide a revised quotation
- Explain costs and timeframes
- Disclose fees and costs and confirm understanding
- Confirm excess
- Documents disclosing costs and fees
- Summary of week 3
Week 4
- Introduction
- Finalise the agreed insurance plan
- Obtain formal agreement
- Issue interim cover
- Issue policy documents
- Sign relevant documents
- Clear Results to sign relevant documents
- Letter of confirmation
- Maintenance of documentation
- Complete a file note
- Provide ongoing service
- Fees for ongoing services
- Determine ongoing fees
- Advise ongoing service fee
- Ongoing service for Clear Results
- Activity: Ongoing services brochure
- Review ongoing service requirements
- Summary of the unit
Assessment
1 Exam and 1 Simulation
See the Assessment and Academic Calendar pages for more information.