Unit of competency Outline
Date retreived
22/07/2026 7:45 AM AWST
22/07/2026 7:45 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.
Monitor insurance broking client programs
Monitor insurance broking client programs
Unit of competency
National Code
FNSIBK525
FNSIBK525
State Code
OCI61
OCI61
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
11/03/2021
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
11/03/2021
Nominal Hours
45
Description
This unit describes the skills and knowledge required to establish ongoing monitoring and review processes, which include insurance loss trends, in order to establish an appropriate loss control program to improve loss ratios.The unit applies to those who use well-developed interpersonal, analytical and communication skills in small or large brokerage organisations dealing with retail and/or commercial clients.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Establish communication protocols with client
- 1.1 Apply brokerage service guidelines and determine level of client contact required
- 1.2 Formalise communications where interests of broker and client need to be protected
- 1.3 Focus communications on ongoing review of client requirements
- 1.4 Establish regular communications based on client needs
2. Gather and review client portfolio and loss trends
- 2.1 Identify and analyse client claims history and assess loss trends
- 2.2 Identify unreported insured losses and report to insurers according to organisational policy requirements
- 2.3 Protect client’s interests by identifying options to reduce incidence and frequency of loss
- 2.4 Monitor underwriting environment to identify if amendments to client program are required
3. Review and adjust monitoring program
- 3.1 Apply standard industry procedures to broking monitoring processes
- 3.2 Adjust monitoring program on the basis of analysed information and data
- 3.3 Identify significance of analysis for client program and specify areas of effective loss control measures
- 3.4 Identify options to reduce incidence and frequency of loss to protect client interests
- 3.5 Document client loss control program and reasons for recommendations made to client
- 3.6 Monitor client records according to broking service protocols
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR53 | FNSIBK515 | Monitor broking client requirements and establish loss control programs | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BFX7 | FNS51220 | Diploma of Insurance Broking | Qualification |
| BFX2 | FNS60920 | Advanced Diploma of Paraplanning | Qualification |