Unit of competency Outline

Date retreived
22/07/2026 3:24 PM AWST

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Review and advise on claims costs, policies and procedures

Review and advise on claims costs, policies and procedures

Unit of competency
National Code
FNSISV508
State Code
AUS19
TGA Status
Current
DTWD Status
Approved
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
60
Description
This unit describes the skills and knowledge required to review claims history, predict future claims costs and review policies and procedures, including analysing data, preparing reports on claims and monitoring trends in claims settlement to advise on changes to minimise losses.It applies to individuals working in claims and underwriting job roles involving specialist knowledge and functions in a range of insurance sectors and may be applied within organisations of various sizes and across a range of client 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. Collect and analyse data on claims trends
  • 1.1 Design and implement data gathering processes
  • 1.2 Identify new data requirements and sources, and establish process for collecting data
  • 1.3 Analyse data collected to identify trends in claims and related documents
2. Monitor claims trends
  • 2.1 Prepare accurate and timely claims reports to document trends and identify issues, where appropriate
  • 2.2 Communicate to management promptly relevant information which impacts on clients according to organisational procedures
3. Identify opportunities to improve client outcomes
  • 3.1 Assist clients to identify changes to policies and procedures that will improve health and safety and return to work practices, and minimise claims costs in similar circumstances
  • 3.2 Communicate advice to clients effectively and promote positive action
  • 3.3 Provide sources of advice to clients where required
No information
No information
Replaces
State Code National Code Title Type
D4246 FNSISV508A Review and advise on claims costs, policies and procedures Unit of competency