Unit of competency Outline
Date retreived
22/07/2026 10:54 PM AWST
22/07/2026 10:54 PM 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.
Research and analyse client and industry information for a broking risk assessment
Research and analyse client and industry information for a broking risk assessment
Unit of competency
National Code
FNSIBK401A
FNSIBK401A
State Code
D4179
D4179
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
29/07/2014
Nominal Hours
45
Description
This unit describes the performance outcomes, skills and knowledge required to undertake detailed research and analysis of a client's industry as input to the preparation of a risk assessment. It encompasses presenting the information in a written and verbal report provided to the client or incorporated into a broader insurance program report.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 the requirements of the research
- 1.1. The client industry to be researched is identified
- 1.2. The research objectives, type of report and information requirements to be produced are clarified
- 1.3. Timeline for collection and presentation of information is determined
2. Collect and organise the information
- 2.1. Primary and secondary sources of information or data are identified
- 2.2. Information/data is accessed and appropriately processed
- 2.3. Information/data is checked for accuracy and completeness
- 2.4. Information/data is organised for ease of use
3. Analyse and draw conclusions if necessary
- 3.1. Information/data is analysed and interpreted to assist in the advisory and negotiation process
- 3.2. Key issues arising from the information for further research or discussion identified
- 3.3. Main conclusions and recommendations identified and checked for consistency with the report's objectives
4. Interpret and report the findings
- 4.1. Information is prepared in line with organisational procedures
- 4.2. Report is provided in an appropriate format and the completeness and accuracy of the information/data is checked against what is required
- 4.3. Justification of the conclusions are evaluated
- 4.4. Deadline for presentation of the information is met
- 4.5. Actions to be taken are appropriately outlined in the final report
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.
Research objectives may include:
business reports
risk identification and assessment reports
risk management reports
special subject reports (i.e. specific subject reports for the client on topics or products).
Information requirements may include:
client/industry:
claims data
economic data
risk identification and quantification uninsured risks
insurance market information
insurance policy details
legislation affecting client industries
underwriting information.
Sources of information may be:
client meetings and interviews
client questionnaires
industry publications
industry statistical information
inspection reports
marketing research information
online information systems
organisational files and records
primary and secondary sources of information
product information.
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.
Research objectives may include:
business reports
risk identification and assessment reports
risk management reports
special subject reports (i.e. specific subject reports for the client on topics or products).
Information requirements may include:
client/industry:
claims data
economic data
risk identification and quantification uninsured risks
insurance market information
insurance policy details
legislation affecting client industries
underwriting information.
Sources of information may be:
client meetings and interviews
client questionnaires
industry publications
industry statistical information
inspection reports
marketing research information
online information systems
organisational files and records
primary and secondary sources of information
product information.
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:
research risk information in a logical manner, organise it so that valid conclusions can be drawn and justified and present it in an appropriate format within a verbal or written report.
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 organisational 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
setting and reviewing workplace projects and business simulations or scenarios.
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:
research risk information in a logical manner, organise it so that valid conclusions can be drawn and justified and present it in an appropriate format within a verbal or written report.
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 organisational 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
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR36 | FNSIBK401 | Research, analyse and report information in insurance broking | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S698 | FNS30610 | Certificate III in Insurance Broking | Qualification |
| S716 | FNS41710 | Certificate IV in Insurance Broking | Qualification |