Unit of competency Outline
Date retreived
22/07/2026 8:13 AM AWST
22/07/2026 8:13 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.
Renew and maintain policy
Renew and maintain policy
Unit of competency
National Code
FNSPIM408A
FNSPIM408A
State Code
D4285
D4285
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
080399 - Business And Management, N.e.c.
Original Release Date
29/07/2014
Nominal Hours
20
Description
This unit describes the performance outcomes, skills and knowledge required to renew and maintain personal injury insurance policies.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Finalise renewal premium
- 1.1. Information received from client is reviewed and client database is updated
- 1.2. Premium is recalculated according to operating procedures, specified criteria and legislative requirements
- 1.3. All relevant documentation is completed promptly according to operating procedures
- 1.4. Client follow-up is carried out as required and inquiries actioned according to organisation guidelines
- 1.5. Client invoice is prepared and issued in accordance with organisation procedures
2. Maintain policy
- 2.1. Amended information is received and reviewed to ensure it meets legislative and organisation requirements
- 2.2. Information is processed according to legislative and operating procedures
- 2.3. Information system is updated accurately
- 2.4. Requests for certificates of currency are checked for validity and certificates issued in accordance with operating procedures and legislative requirements
- 2.5. Mid-term premium amendments are reviewed and policy updates recorded accurately
- 2.6. Automatic renewals and cancellations are monitored in accordance with organisation operating procedures and legislative requirements
- 2.7. Premium projections are calculated and provided for clients as required
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.
Information received from client may include:
client requests for policy and rate information
renewal request
service request for advice on policies and options.
Premium may include:
calculated variations in accordance with organisation procedures
organisation or industry standard rate classification.
Relevant documentation may include:
application and renewal forms
client history documentation
industry or organisation rate charts.
Information system may include:
organisation computer systems
filing and other manual data storage systems
records management systems.
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.
Information received from client may include:
client requests for policy and rate information
renewal request
service request for advice on policies and options.
Premium may include:
calculated variations in accordance with organisation procedures
organisation or industry standard rate classification.
Relevant documentation may include:
application and renewal forms
client history documentation
industry or organisation rate charts.
Information system may include:
organisation computer systems
filing and other manual data storage systems
records management systems.
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:
interpret and comply with industry and organisation obligations and objectives including relevant legislative requirements
deal with questions relating to procedures of the business and policy renewal and maintenance issues that arise for clients
effectively research organisation and industry data and information
maintain accurate data on organisation information systems.
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.
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:
interpret and comply with industry and organisation obligations and objectives including relevant legislative requirements
deal with questions relating to procedures of the business and policy renewal and maintenance issues that arise for clients
effectively research organisation and industry data and information
maintain accurate data on organisation information systems.
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.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS43 | FNSPIM408 | Renew and maintain policy | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S704 | FNS40510 | Certificate IV in Personal Injury Management (Underwriting) | Qualification |