Advise & Comply - Tier 1

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Advise & Comply - Tier 1

Course details last updated on the register on 9/09/2011
COURSE DETAILS

Course Name

Advise & Comply - Tier 1

Course Information

This course is open to employees of CGU only. Participants who successfully complete the course and assessments will receive two Statements of Attainment, one for the Tier 1 certification and one for the Tier 2 certification. The Tier 2 certification may be completed as a stand alone course.

Competencies Covered

The three units contained within the Statements of Attainment are the ASIC advisory compliant units: Tier 2 (incorporates 2 units) FNSASIC301C - Establish client relationship and analyse needs and FNSASIC302C -Develop present and negotiate client solutions from the FNS30110 Certificate III in Financial Services and the Tier 1 Diploma level unit FNSIAD501A - Provide appropriate services, advice and products to clients.

Award Given at Completion

Statement of Attainment

Specialist Knowledge

General Insurance, Generic Knowledge, Skills

Tier

1

Where Course Delivered

All of Australia, Sydney, NSW regional, Melbourne, VIC regional, Hobart, TAS regional, Adelaide, SA regional, Perth, WA regional, Darwin, NT regional, Brisbane, QLD regional, ACT

Delivery Method

Computer-based, Distance

Assessment Type

Computer based, Case study

Start Date

11/3/2011

Duration/Total Hours

30

  

Approximate Cost

$0.00

  

Internal training course

Pre95

No

This course was being offered as at 24 September 2012 when the Training Register was archived.

COORDINATOR DETAILS

Name

Richard Crawford

Phone Number

03 9601 8512

Fax Number

03 9601 8044

Email Address

richard.crawford@cgu.com.au
COVERAGE GRAPH

TOPICS COVERAGE

Generic KnowledgeOutline the impact of economic factors on the general insurance industry; Describe the Australian general insurance environment; Define the characteristics of the Australian insurance market; Explain how CGU sells insurance products; Explain the aim of the FSR and the Australian general insurance environment; Explain the meaning of Information No Advice; Outline the FSR licensing requirements and the impact of economic factors on the general insurance industry; Identify how the FSR relates to your role as a representative; Explain why it is important for a representative to be able to read and interpret a policy wording; Explain the Code of Practice requirements for policy documentation; Explain the differences between a policy, policy wording and a policy document; Identify the sections in a policy wording that state what is and isn't covered under the policy; Identify the sections in a policy wording that state what the Insurer expects of the Insured; Identify the sections in a policy wording that state what the Insured can expect of the Insurer in relation to service, guarantees and dispute resolution; Identify and describe relevant standards of practice and legal principles that apply to the General Insurance industry; Explain the circumstances and timing required by the FSR for making the appropriate disclosures to retail customers relating to the Financial Services Guide (FSG) and the Product Disclosure Statement (PDS); Identify opportunities for referral and explain the process to the customer; Explain the complaints handling process and identify the circumstances when it may be used. Specialist Knowledge including Customer ServiceDevelop a risk profile of the Insured based upon information gathered from the customer and identify the risks to the Insurer; Describe the relationship between quality interpersonal communication skills and effective customer advice; Demonstrate interpersonal skills required to develop and maintain rapport with customers when responding to requests for information or providing financial product advice; Use appropriate questioning and listening techniques to identify customers’ objectives, needs and financial situation; Apply product knowledge of Personal Income Insurance cover to recommend appropriate levels of cover and assist customers in completing their application for insurance; Negotiate agreements with customers based on underwriting guidelines and/or specialist advice; Present agreed Personal Income Insurance policy solutions to customers; Describe an advisory process appropriate for selling and advising on Personal Income Insurance products; Prepare appropriate documentation in accordance with company and compliance guidelines; Inform customers of any on-going services; Define hazard and discuss how hazard relates to insurance applications; Discuss underwriting practices that are used to assess the risk and set policy terms and conditions; Give examples of underwriting issues and describe how they are addressed; Discuss the taxes, fees and commissions that apply to an insurance policy; Define risk and explain types of risk; Discuss underwriting and the role of the Underwriter; Explain and give examples of risk management strategies; Describe the relationship between quality interpersonal communication skills and effective customer advice; Demonstrate interpersonal skills required to develop and maintain rapport with customers when responding to requests for information or providing financial product advice; Use appropriate questioning and listening techniques to identify customers’ objectives, needs and financial situation; Apply product knowledge of Personal Income Insurance cover to recommend appropriate levels of cover and assist customers in completing their application for insurance; Negotiate agreements with customers based on underwriting guidelines and/or specialist advice; Present agreed Personal Income Insurance policy solutions to customers; Describe an advisory process appropriate for selling and advising on Personal Income Insurance products; Prepare appropriate documentation in accordance with company and compliance guidelines; Inform customers of any on-going services; Use effective communication and interpersonal skills to establish the customer relationship and consult with the customer throughout the analysis; Use effective listening and questioning techniques to determine a customer's product knowledge level and gather information to identify customer needs; Describe the compliance customer service process; Identify whether specialist advice is required and follow the appropriate referral process; Determine and agree on the risk profile of the customer and identify the risk profile of the Insurer; Identify and describe relevant standards of practice and legal principles that apply to the General Insurance industry; Explain the circumstances and timing required by the FSR for making the appropriate disclosures to retail customers relating to the Financial Services Guide (FSG), the Product Disclosure Statement (PDS), the Statement of Advice (SoA) and the General Advice Warning (GAW); Develop appropriate policy solutions for customers by matching their needs to product options; Explain to customers any risks that may be associated with a policy solution, and how to initiate claims; Clarify any customer concerns and confirm that customers understand the premium, timeframe for the policy to come into effect, and any applicable fees and taxes; Explain the complaints handling process and identify the circumstances when it may be used; Agree on the policy solution, then sign and exchange all relevant documentation with customers; Inform customers about any ongoing services. Product KnowledgeCGU Product Training Learners must complete CGU’s Personal Income Insurance product module as part of this certification. Transfer knowledge/skills to the WorkplaceCase Study Assessment Learners must successfully complete a short answer case study to receive their Tier 1 Statement of Attainment.
PROVIDER DETAILS

Provider

Insurance Australia Group Services

Contact

See under course name

Important Notice

This service is provided solely for general information purposes. By provision of the service ASIC does not provide legal or other professional advice. ASIC expressly disclaims any liability arising from use of the service. If you require legal or other expert advice or assistance, you should seek the services of a competent professional person.

Created by the Australian Securities and Investments Commission. http://www.asic.gov.au Copyright � 2007 Australian Securities and Investments Commission.

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Last updated: 30/03/2021 09:38