This unit will be available to enrol from 19 October 2022. 
Skills Unit
GE30003-20

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 $425
General Insurance Claims Insurance Broking
5-week Study Period
10 Credit Points
Specialised

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

FNSSAM502 Assess market needs

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 and 1 Interactive Simulation

10 CIP Points
Analyse the insurance market
AUD $425
General Insurance Claims Insurance Broking
5-week Study Period
10 Credit Points
Specialised