- Apply the six step process to a range of standard risk situations to identify appropriate products and services to meet clients’ needs in either a claim or product sale context for both Fire & General and Life & Health.
Understand products and services specific to the insurance sector, at a level that is appropriate to be able to work in an entry level or intermediate operational role.
Complete the insurance application process and understand disclosure by the client, and the terms and conditions disclosure.
- Understand standard risk management concepts and typical approaches to familiar client risk situations, including asset, wealth and health protection.
Key concepts to understand include defining risk, risk assessment and types of risk.
Ways to manage risk including avoidance, acceptance, mitigation and transfer (insure).
Insurance as an outcome of risk management including the purpose of insurance, characteristics of insurance, choice of insurance, and the importance of ownership structures.
- Understand characteristics of a range of services and products in the insurance industry (including Fire & General and Life & Health) including:
Life & Health – Life, Trauma, Disability, Income protection, Health
Fire & General (Personal/Domestic) – House, Contents, Motor Vehicle
Fire & General (Commercial) – recognise when an enquiry or situation falls into the category of a Commercial risk situation and refer to an appropriate specialist.
- Understand roles, responsibilities and key services offered by a range of industry participants including:
providers, distributors, regulators and professional and industry bodies.