Unit of competency Outline
Date retreived
22/07/2026 8:05 PM AWST
22/07/2026 8:05 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.
Evaluate and report on status of claims portfolio
Evaluate and report on status of claims portfolio
Unit of competency
National Code
FNSISV515
FNSISV515
State Code
AUS15
AUS15
TGA Status
Replaced
Replaced
DTWD Status
Transition (Replaced)
Transition (Replaced)
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
50
Description
This unit describes the skills and knowledge required to evaluate a claims portfolio, including preparing reports on portfolio status and recommending changes to minimise losses.It applies to individuals working in claims management 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. Evaluate status of claims portfolio
- 1.1 Identify organisation’s expectations for claims portfolio performance
- 1.2 Analyse and evaluate claims portfolio data and information to identify trends and determine status of portfolio
- 1.3 Research industry to determine benchmarks for claims portfolios
2. Recommend changes to claims portfolio, policy and/or procedures, as required
- 2.1 Identify changes to portfolio, policy and procedures to improve portfolio performance and minimise claims losses
- 2.2 Document all changes and update records in compliance with organisational policy and procedures
3. Prepare status report
- 3.1 Prepare accurate and timely claims portfolio reports to document status and trends, where appropriate
- 3.2 Make recommendations on improvements to claims portfolio
4. Communicate findings to key stakeholders
- 4.1 Communicate promptly information which impacts on various portfolios to stakeholders according to organisational procedures
5. Review status report findings
- 5.1 Use feedback from stakeholders to review key findings and recommendations
- 5.2 Document all feedback and subsequent amendments to status report and record according to organisational policy and procedures
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4253 | FNSISV515A | Evaluate and report on status of claims portfolio | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OCI51 | FNSISV525 | Evaluate and report on status of insurance claims portfolios | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWE4 | FNS51115 | Diploma of General Insurance | Qualification |
| AWB9 | FNS51315 | Diploma of Life Insurance | Qualification |