Specialising in Educating Insurance Professionals

 

Nationally Recognised TrainingThe Financial Services School - Provider Number 31916 offers nationally recognised qualification courses specifically designed for the General Insurance sector.

These courses provide learning opportunities for those new to the industry and those existing workers who wish to increase their level of knowledge and skills.

Students are provided with continuous support throughout their learning process.

Select the link to find out more about our comprehensive courses.

FNS30615 Certificate III in Insurance Broking

FNS51215 Diploma of Insurance Broking

 



FNS30615 Certificate III in Insurance Broking

This qualification is a nationally recognised qualification designed to reflect the role of entry level employees carrying out work in insurance broking in a range of environments, including as a member of a team in a large organisation or a small broking practice, or as a support person handling domestic insurance business. Possible work functions may include:

  • Assisting in managing broking business on behalf of a client
  • Responding to customer enquiries for insurance broking products and services
  • Assisting a broking client with an insurance claim

Pathways

The Certificate III in Insurance Broking provides a foundation for further studies at Certificate IV or Diploma level in Insurance Broking.

Students who complete the Certificate III in Insurance Broking are equipped for roles such as Administration Assistant/Data Processor/Client Service Officer/Brokers Assistant/Claims Service Officer. Completing the ASIC electives will meet ASIC RG146 requirements for Tier 2 advisers.

Traineeships

This course is offered as a traineeship to new workers (employed for less than three (3) months) who qualify for traineeship status through the relevant training authorities in their State or Territory.

Contact The Financial Services School to arrange an eligibility check.

Duration of Course

The duration of the course will depend on the students work experience and exposure to workplace activities. Average course duration is 9 to 12 months. Maximum course duration is 24 months for full time employees.

Course Content

This course contains the following modules and units of competency.

Module 1- Introduction to Insurance

Students will learn the role played by the insurance broker and other members of the general insurance industry and how they interact and the types of insurance broking products available in the market place and the processes involved in placing cover.

Units of Competency

Modules 1 and 2 cover the following units of competency:

FNSINC301 

Work effectively in the financial services industry

Module 2 - Fundamental Compliance and Broking Procedures

This module covers the compliance standards required to be met by Insurance Brokers in their day to day dealings with clients.

Assessment Process

  • Gap assessment test - this test determines the students current level of knowledge and allows us to determine gap training requirements and to give consideration to prior knowledge( if applicable)
  • Combination True/False, multiple choice and short answer questions

 Module 3– RG146 Tier 2 General Insurance and Insurance Broking Practices

This module covers the knowledge and skills required to meet ASIC RG146 Tier 2 requirements. The module incorporates the course materials and assessments from our Tier 2 Short Course:

  • Arranging Private Motor Insurance
  • Arranging Owner Occupied Home and Contents Insurance
  • Arranging Rental Property Insurance

Assessment Process

  • Gap assessment test - this test determines the students current level of knowledge and allows us to determine gap training requirements and to give consideration to prior knowledge( if applicable)
  • Combination True/False, multiple choice and short answer questions
  • Case studies
  • Practical assessments (students unable to complete practical assessments will be provided with case studies and additional methods of assessment).
  • Trainer/Assessor or supervisor’s observation in the workplace

Units of Competency

Module 2 and 3 covers the following units of competency:

FNSASIC304

 Provide Tier 2 general advice in general insurance

FNSASIC305

 Provide Tier 2 personal advice in general insurance

BSBCUE309

Develop product and service knowledge for customer engagement operation

FNSIBK302B

Provide general advice in general insurance broking products and services

 

Module 4 - Claims Handling

This module provides students with a basic understanding of the insurance broker’s role in providing a claims service and the processes involved, including the information and documents to collect.  There are two sub-modules:

Part 1 Handling Private Motor Claims and Part 2 Handling Property Claims

Assessment Process

  • Gap assessment test - this test determines the students current level of knowledge and allows us to determine gap training requirements and to give consideration to prior knowledge( if applicable)
  • Combination True/False, multiple choice and short answer questions
  • Case studies
  • Practical assessments (students unable to complete practical assessments will be provided with case studies and additional methods of assessment).
  • Trainer/Assessor or supervisor’s observation in the workplace

Units of Competency

Module 4 covers the following units of competency:

FNSIBK404

Provide a claims service to an insurance broking client

FNSISV405

Analyse Insurance Claims

BSBCUS301

Deliver and monitor a service to customers

 

Module 5 – Sales and Insurance Broking Practices

This module requires the student to undertake practical training on the provision of advice and arranging of retail insurance for clients.

Assessment Process

  • Combination True/False, multiple choice and short answer questions
  • Case studies
  • Practical assessments (students unable to complete practical assessments will be provided with case studies and additional methods of assessment).
  • Trainer/Assessor or supervisor’s observation in the workplace
  • Final verification questions via telephone

Units of Competency

Module 5 includes the following units of competency:

BSBCUE404

Collect, analyse and record information

BSBCUE304

Provide sales solutions to customers

FNSINC402

Implement new or renewed insurance program for insurance broking clients

FNSIBK403

Place client insurances with insurer and confirm insurance cover with clients

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FNS51215 Diploma of Insurance Broking

This nationally recognised qualification is designed to reflect job roles in insurance broking in a range of organisations as a team member or leader in a large organisation/small business practice or as a sole operator. Module 1 of this qualification course meets ASIC’s requirements for Tier 1 Insurance Broking.

Possible work functions include:

  • Identifying risk within a client’s broking portfolio
  • Monitoring a client’s broking portfolio including monitoring complex domestic and business risk portfolios
  • Negotiating and resolving claims disputes
  • Negotiating with insurers on behalf of their clients in an insurance claim
  • Prepare new business proposals for insurance broking clients
  • Reviewing and reporting losses
  • Working as an insurance broking account executive.

Course content

This course contains the following modules and units of competency

Module 1 – RG146 Tier 1 Insurance Broking

This short course covers the knowledge and skills, required to meet ASIC RG146 Tier 1 Insurance Broking.

Designed for advisers handling SME Business in a general insurance broking environment, this course is broken down into five (5) ‘bite size’ learning modules. Exemptions may apply to some of these modules if recognition of prior learning has been assessed through gap assessment test or provision of validated Tier 2 certificate.

Learning modules include:

  • ASIC Generic Knowledge Requirements
  • Fundamental Insurance Law
  • Arranging insurance for a Trades or Mobile Business
  • Arranging Insurance for a Professional Person
  • Arranging Insurance for SME Business

Assessment Process

The assessment process for this short course will include:

  • Gap assessment test- this test determines the student’s current level of knowledge and skills. The test allows us to determine gap training requirements and to give consideration to prior knowledge. (This is not required by students who have no experience in commercial lines)
  • Combination True/False, multiple choice and short answer questions
  • Case studies and practical assessments (students unable to complete practical assessments will be provided with additional case studies and additional methods of assessment as required). However, the course is more suited to those working in the industry or returning to the industry.
  • Trainer/Assessor or supervisor’s observation in the workplace

Units of Competency

This module includes the following units of competency:

FNSIBK406

Deliver professional insurance broking services

FNSIBK508

 Implement changes to broking client's insurance program

FNSIBK513

Prepare submission for new business

FNSINC402

Develop and maintain in-depth knowledge of products and services used by an organisation or sector

FNSASICY503

Provide advice in Insurance Broking

Module 2 – Managing Complex Risks

This module covers the knowledge and skills required to develop client relationships, manage complex renewals and changes to insurance portfolios.

Assessment Process

Combination True/False, multiple choice and short answer questions

Case studies and practical assessments (students unable to complete practical assessments will be provided with additional case studies and additional methods of assessment as required). However, the course is more suited to those working in the industry or returning to the industry.

Final verification questions via telephone.

Units of Competency

This module covers the following units of competency:

FNSIBK515

Monitor broking client requirements and establish loss control programs

FNSIBK514

Manage complex risk portfolio for a broking client

FNSIBK507

Review Service Performance

Module 3 – Managing Complex Claims

This module provides an overview of the laws relating to insurance claims and the management processes for claims in an insurance broking environment.

Assessment Process

Combination True/False, multiple choice and short answer questions

Case studies and practical assessments (students unable to complete practical assessments will be provided with additional case studies and additional methods of assessment as required). However, the course is more suited to those working in the industry or returning to the industry.

Final verification questions via telephone

Units of Competency

This module covers the following units of competency:

FNSIBK512

Negotiate complex claims settlement for insurance broking client

BSBRES401

Analyse and present research information

On successful completion of these competencies the full qualification certificate will be issued.

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