Unit of competency Outline

Date retreived
22/07/2026 3:14 PM AWST

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Issue insurance renewal advice

Issue insurance renewal advice

Unit of competency
National Code
FNSISV304
State Code
AUS09
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
10
Description
This unit describes the skills and knowledge required to issue notices covering invitations to renew existing insurance contracts.It applies to individuals in customer service, data processing or underwriting roles in a range of insurance sectors 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. Identify contracts due for renewal
  • 1.1 Access computer generated reports to determine policies due for renewal
  • 1.2 Identify contracts requiring further investigation prior to invitation to renew, and assess appropriately against organisational operating protocols
  • 1.3 Refer contracts requiring further investigation to appropriate personnel for resolution
2. Advise renewal terms of insurance to the insured
  • 2.1 Issue notices and information required by legislation and codes of practice to insured parties within required timeframes and according to operating procedures
  • 2.2 Advise customer on any disclosures that need to be made, noting any privacy considerations
  • 2.3 Action errors and changes required to database records as a result of non-delivery of renewal advice according to organisational operating procedures
3. Finalise renewal terms
  • 3.1 Finalise terms of renewal according to operating procedures and specified criteria
  • 3.2 Complete all relevant documentation promptly according to operating procedures
  • 3.3 Carry out customer follow up as required and action enquiries according to organisational guidelines
No information
No information
Replaces
State Code National Code Title Type
D4226 FNSISV304A Issue renewal advice Unit of competency
State Code National Code Title Type
AVZ8 FNS30515 Certificate III in General Insurance Qualification