Unit of competency Outline

Date retreived
22/07/2026 11:23 AM AWST

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Analyse financial, medical and psychological claims assessments

Analyse financial, medical and psychological claims assessments

Unit of competency
National Code
FNSISV519
State Code
OCZ55
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
22/04/2021
Nominal Hours
60
Description
This unit describes the skills and knowledge required to arrange financial, medical or psychological assessments to support the claims assessment processes and to analyse and report on the results.The unit applies to those working in job roles involving specialist knowledge and functions in a range of insurance sectors. It may apply to areas of claims assessment involving personal injury, long-term settlement and/or complex claims.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Establish need to appoint specialist to undertake assessment
  • 1.1 Review facts, evidence and information relevant to circumstances of loss, damage and injury
  • 1.2 Identify and advise client and other required stakeholders of need to appoint specialist assistance to undertake financial, medical or psychological assessment
2. Organise financial, medical or psychological assessments
  • 2.1 Engage appointed specialists and brief them on requirements of assessment
  • 2.2 Monitor assessment activity progress and report to required stakeholders within required timelines
3. Analyse data for claims assessments
  • 3.1 Analyse and assess financial, medical or psychological assessment data
  • 3.2 Calculate loss damages by using analysis tools to assess financial, medical or psychological assessments
  • 3.3 Assess impartiality and validity of loss situation and claims against assessment data, and analyse against reported circumstances, available evidence, facts and information
  • 3.4 Review insurance cover and policy conditions to confirm loss falls within policy coverage
4. Report results
  • 4.1 Document assessment actions, procedures and outcomes according to organisations policies and procedures
  • 4.2 Provide stakeholders with advice regarding financial, medical or psychological assessment for claim proceedings
No information
No information
Replaces
State Code National Code Title Type
AUS34 FNSISV509 Analyse financial, medical and psychological claims assessments Unit of competency