Unit of competency Outline

Date retreived
23/07/2026 5:33 AM AWST

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Process insurance claims payments

Process insurance claims payments

Unit of competency
National Code
FNSISV310
State Code
AUS00
TGA Status
Deleted
DTWD Status
Deleted
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
081103 - Insurance And Actuarial Studies
Original Release Date
16/09/2015
Nominal Hours
20
Description
This unit describes the skills and knowledge required to generate and process claim related payments and required documentation in a timely manner.It applies to individuals in a range of insurance sectors and may be applied within organisations of various sizes and across a range of customer bases.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. Process payments
  • 1.1 Identify, check and accurately record payment information
  • 1.2 Authorise all payments according to organisational operating procedures
  • 1.3 Generate payments within timeframes with reference to legislation, organisational policy and operating procedures, and codes of practice if applicable
  • 1.4 Complete payment documents and identify relevant details
  • 1.5 Observe payment limits for amounts requiring personal signing
2. Notify reinsurer, if appropriate
  • 2.1 Check reinsurance information related to claims payment
  • 2.2 Notify reinsurers of claim payment amount and details under relevant reinsurance arrangements, where appropriate
3. Finalise claims payment information to facilitate payment
  • 3.1 Finalise payment information and enter on system for prompt payment, where required
  • 3.2 Despatch claims payment data or payments within required timeframe
  • 3.3 Copy and file documents for auditing purposes according to organisational operating procedures
  • 3.4 Advise interested parties according to operating procedures where liability is not accepted
No information
No information
Replaces
State Code National Code Title Type
D4232 FNSISV310A Process claims payments Unit of competency
State Code National Code Title Type
AVZ8 FNS30515 Certificate III in General Insurance Qualification