Unit of competency Outline

Date retreived
22/07/2026 7:44 PM AWST

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Supervise insurer liaison

Supervise insurer liaison

Unit of competency
National Code
FNSSUP502
State Code
AUP55
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
45
Description
This unit describes the skills and knowledge required to implement and supervise liaison with insurance bodies. It encompasses establishing insurer liaison, supervising the claim procedures, managing complex claims and managing risk.It applies to individuals who use analytical skills and systematic approaches to liaise with insurance bodies and oversee specific organisational processes.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Establish insurer liaison
  • 1.1 Identify organisational procedures for insurance arrangements
  • 1.2 Determine insurance performance measures
  • 1.3 Establish contact with insurer and maintain regular liaison
  • 1.4 Determine insurance premiums payment details
  • 1.5 Establish procedures for processing claims
  • 1.6 Obtain paperwork required to undertake activities
  • 1.7 Provide insurer with information to maintain accurate member records
2. Manage risk
  • 2.1 Assess risk of member profile with insurer
  • 2.2 Undertake procedures to reduce risk in line with organisational procedures
  • 2.3 Assess claims documentation and generate reports for trustee
  • 2.4 Implement trustee decisions on claims and risk management procedures
3. Supervise claim procedures
  • 3.1 Monitor performance requirements for insurer
  • 3.2 Provide insurer with information as required to process claim
  • 3.3 Refer disputed claims to complaints procedure
4. Manage complex claims
  • 4.1 Gather documentation for complex claims and prepare for insurer
  • 4.2 Check claim applications against conditions identified in trust deed
  • 4.3 Incorporate claim beneficiaries into claims processing procedure
  • 4.4 Compile claim correspondence in accordance with conditions identified in trust deed, relevant legislation and organisational procedures
  • 4.5 Forward claim correspondence to insurer
No information
No information
Replaces
State Code National Code Title Type
D4344 FNSSUP502A Supervise insurer liaison Unit of competency
Replaced By
State Code National Code Title Type
ODJ74 FNSSUP512 Manage insurer liaison within a superannuation organisation Unit of competency
State Code National Code Title Type
AWD2 FNS50715 Diploma of Superannuation Qualification