Skills Unit
GE30103-20
Analyse the insurance market
This unit describes the skills and knowledge required to monitor and assess market needs to identify and exploit business opportunities.
It applies to individuals who apply specialised knowledge and analytical and organisational skills to strategic planning activities within a team and/or large or small organisations.
10 CIP Points
Analyse the insurance market
AUD $460
General Insurance
Claims
Insurance Broking
5-week Study Period
10 Credit Points
Specialised
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What you'll learn
By the end of this learning pathway, you should be able to:
- collect market information
- analyse market data
- assess options for marketing products
- present findings to relevant personnel.
Competencies
FNSSAM512 Assess market needs and identify opportunities for new financial products and services
Topics Covered
Week 1 Collect information on the external business environment
- Assessing market needs
- Examining the external environment
- Classifying external factors using PESTLE
- Considering localised factors
- The industry and market environment
- Finding industry information
- Contacting insurers and potential clients
- Competitor analysis
- Potential customers
Week 2 Collect information on the internal business environment
- Examining current products
- Key business items to assess
- Structure
- Shared values
- Adaptability
- Organisational direction
- Reputation
- Resources
- Capabilities
- Staff
- Systems and processes
Week 3 Analyse data collected and identify opportunities for financial products
- Validating data
- Analysing data
- SWOT analysis
Week 4 Determine viability of options and present your findings
- Investigating viability of preferred options
- Evaluating viability of options
- Considering potential risks
- Delivering the findings
- Preparing a written report
- Preparing for the presentation
Assessment
1 Exam, 1 Integrated Workbook and 1 Observation Checklist
See the Assessment and Academic Calendars pages for more information.