Unit of competency Outline
Date retreived
22/07/2026 8:03 PM AWST
22/07/2026 8:03 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.
Prepare a distribution plan
Prepare a distribution plan
Unit of competency
National Code
FNSILD501A
FNSILD501A
State Code
D4208
D4208
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
60
Description
This unit describes the performance outcomes, skills and knowledge required to determine and prepare a distribution plan. It encompasses determining business objectives, defining markets and their needs, determining products and services, identifying and selecting distribution channels, establishing performance measures and documenting the plan.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. Determine business objectives
- 1.1. The distribution aspects of the corporate strategic and business plans are identified
- 1.2. Current situation is analysed to determine opportunities in accordance with corporate plans
- 1.3. Desired financial resource and market parameters are identified and documented
- 1.4. Objectives are developed by consultation with stakeholders
2. Define markets and needs
- 2.1. Potential markets are identified and assessed within corporate strategy and philosophy with market groups clearly delineated
- 2.2. Cost-benefit analysis results are within plan projections
3. Determine products and services
- 3.1. Likely future trends in selected markets are assessed
- 3.2. Range of products or services to meet market needs and profit objectives are selected
4. Identify and select distribution channels
- 4.1. Current distribution channels are identified and their advantages and disadvantages are assessed
- 4.2. Channels are chosen according to objective criteria
5. Determine and establish enterprise structure
- 5.1. Suitability of current structure for proposed distribution channels is evaluated against business objectives, potential markets and services to be provided
- 5.2. Alternatives are assessed against business objectives, potential markets and services to be provided
6. Establish performance measures
- 6.1. Financial measures are identified and documented
- 6.2. Timeframes are established and processes to monitor performance outcomes determined and documented
7. Document the plan
- 7.1. Plan components are integrated into an agreed format
- 7.2. Plan is documented in a logical, concise and conclusive manner with sign-offs obtained from authorised personnel
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.
Resources may include:
accommodation
equipment
finance
goodwill visibility
location
outstanding options
people.
Market includes:
any opportunity that is the object of a specific distribution approach.
Products or services may include:
advice on insurance
agreements with distributors
claims management
client lifetime value
compliance and regulatory matters
financial needs analysis
financial planning
general sector property or liability products
life sector products
negotiating terms with insurers/reinsurers
outsourcing options
placement of risks
premium financing
risk assessment
superannuation products
wholesaling of risks
other financial services.
Distribution channels analysis may include:
advisers
affinity groups
associations
brokers
direct response
electronic interface
existing clients
media
retail outlets
telemarketing
wholesale outlets.
Financial measures may include:
capital
cash flow
compensation arrangements
critical path
deadlines
delivery dates
expenditure
income
investment
lead times
leases
loans
milestones
service agreements
surplus
taxation and legal considerations.
Plan components may include:
analysis tools (e.g. SWOT)
formatting requirements
narrative.
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.
Resources may include:
accommodation
equipment
finance
goodwill visibility
location
outstanding options
people.
Market includes:
any opportunity that is the object of a specific distribution approach.
Products or services may include:
advice on insurance
agreements with distributors
claims management
client lifetime value
compliance and regulatory matters
financial needs analysis
financial planning
general sector property or liability products
life sector products
negotiating terms with insurers/reinsurers
outsourcing options
placement of risks
premium financing
risk assessment
superannuation products
wholesaling of risks
other financial services.
Distribution channels analysis may include:
advisers
affinity groups
associations
brokers
direct response
electronic interface
existing clients
media
retail outlets
telemarketing
wholesale outlets.
Financial measures may include:
capital
cash flow
compensation arrangements
critical path
deadlines
delivery dates
expenditure
income
investment
lead times
leases
loans
milestones
service agreements
surplus
taxation and legal considerations.
Plan components may include:
analysis tools (e.g. SWOT)
formatting requirements
narrative.
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:
maintain knowledge of available products and services
determine business objectives, products and services
define markets and needs
identify and select distribution channels
establish performance measures
document plans.
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:
maintain knowledge of available products and services
determine business objectives, products and services
define markets and needs
identify and select distribution channels
establish performance measures
document plans.
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 |
|---|---|---|---|
| AUR69 | FNSILD501 | Prepare a distribution plan | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D776 | FNS51312 | Diploma of Life Insurance | Qualification |