Unit of competency Outline
Date retreived
23/07/2026 4:39 AM AWST
23/07/2026 4:39 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Issue renewal advice
Issue renewal advice
Unit of competency
National Code
FNSISV304A
FNSISV304A
State Code
D4226
D4226
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
28/07/2014
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
28/07/2014
Nominal Hours
10
Description
This unit describes the performance outcomes, skills and knowledge required to issue notices covering invitations to renew existing insurance contracts.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify contracts due for renewal
- 1.1. Computer generated reports are accessed to determine policies due for renewal
- 1.2. Contracts identified as requiring further investigation prior to invitation to renew are assessed appropriately against organisation operating protocols
- 1.3. Contracts requiring further investigation are referred to appropriate personnel for resolution
2. Advise renewal terms of insurance to the insured
- 2.1. Notices and information required by legislation and codes of practice are sent to insured parties within required timeframes and according to operating procedures
- 2.2. Errors and changes required to database records as a result of non-delivery of renewal advice are actioned according to organisation operating procedures
3. Finalise renewal terms
- 3.1. Terms of renewal are finalised according to operating procedures and specified criteria
- 3.2. All relevant documentation is completed promptly according to operating procedures
- 3.3. Client follow-up is carried out as required and inquiries actioned according to organisation guidelines
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Relevant legislation includes:
Financial Services Reform Act (FSRA)
Corporations Act
Insurance Contracts Act
Trade Practices Act.
Documentation includes:
amendments
cancellations
cover notes
invoices
letters of advice of alteration of terms
placing slips
policy and renewals notices.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Relevant legislation includes:
Financial Services Reform Act (FSRA)
Corporations Act
Insurance Contracts Act
Trade Practices Act.
Documentation includes:
amendments
cancellations
cover notes
invoices
letters of advice of alteration of terms
placing slips
policy and renewals notices.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
comply with industry codes of practice and legislative requirements relating to the issue of renewal advice
apply organisation policies and procedures accurately when issuing renewal advice
ensure accuracy and attention to detail.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
comply with industry codes of practice and legislative requirements relating to the issue of renewal advice
apply organisation policies and procedures accurately when issuing renewal advice
ensure accuracy and attention to detail.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9831 | FNSINSV304B | Issue renewal advice | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS09 | FNSISV304 | Issue insurance renewal advice | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D704 | FNS30511 | Certificate III in General Insurance | Qualification |