Unit of competency Outline
Date retreived
23/07/2026 1:28 AM AWST
23/07/2026 1:28 AM 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.
Evaluate and report on status of claims portfolio
Evaluate and report on status of claims portfolio
Unit of competency
National Code
FNSISV515A
FNSISV515A
State Code
D4253
D4253
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
50
Description
This unit describes the performance outcomes, skills and knowledge required to evaluate a claims portfolio including preparing reports on portfolio status and recommending changes to minimise losses. It encompasses liaison with relevant stakeholders to verify or expand on data provided and interpret the results to report on the status of the portfolio, including any recommendations to address the findings and minimise losses.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. Evaluate status of claims portfolio
- 1.1. Organisation expectations for claims portfolio performance are identified
- 1.2. Claims portfolio data and information is analysed and evaluated to identify trends and determine status of portfolio
2. Recommend changes to claims portfolio, policy and/or procedures, as required
- 2.1. Changes to portfolio, policy and procedures to improve portfolio performance and minimise claims losses are identified
- 2.2. All changes are fully documented and records updated in compliance with organisation policies and procedures
3. Prepare status report
- 3.1. Accurate and timely claims portfolio reports are prepared to document status and trends where appropriate
4. Communicate findings to key stakeholders
- 4.1. Information which impacts on the various portfolios is communicated promptly to stakeholders according to organisation procedures
5. Review status report findings
- 5.1. Any feedback from stakeholders and used to review key findings and recommendations
- 5.2. All feedback and subsequent amendments to status report are fully documented and recorded according to organisation policies and procedures
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.
Client portfolio data and information may include:
assessor reports
case reports
correspondence to a range of medical, hospital and legal professionals on claimant related matters
database information
files
forms
insurance policy documents and coverage details
letters
minutes
telephone messages.
Stakeholders may include:
brokers or agents
claims team
managers
underwriting.
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.
Client portfolio data and information may include:
assessor reports
case reports
correspondence to a range of medical, hospital and legal professionals on claimant related matters
database information
files
forms
insurance policy documents and coverage details
letters
minutes
telephone messages.
Stakeholders may include:
brokers or agents
claims team
managers
underwriting.
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:
apply planning, data collection, analysis, communication and report writing skills to the interpretation and evaluation of the status of a claims portfolio
interpret charts, graphs and statistical information
interpret and comply with relevant legislation, regulations and industry codes of practice.
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 organisation 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:
apply planning, data collection, analysis, communication and report writing skills to the interpretation and evaluation of the status of a claims portfolio
interpret charts, graphs and statistical information
interpret and comply with relevant legislation, regulations and industry codes of practice.
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 organisation 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 |
|---|---|---|---|
| AUS15 | FNSISV515 | Evaluate and report on status of claims portfolio | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S727 | FNS51110 | Diploma of General Insurance | Qualification |
| D776 | FNS51312 | Diploma of Life Insurance | Qualification |