Certificate III in Insurance Broking

Certificate III in Insurance Broking

FNS30615 - Certificate III in Insurance Broking

NRT

LMI College Pty Ltd – Provider Number 31916 offers nationally recognised qualification courses specifically designed for the General Insurance sector.

This qualification is a nationally recognised qualification designed to reflect the role of entry level employees carrying out work in insurance broking in a range of environments, including as a member of a team in a large organisation or a small broking practice, or as a support person handling domestic insurance business. Possible work functions may include:

  • Assisting in managing broking business on behalf of a client
  • Responding to customer enquiries for insurance broking products and services
  • Assisting a broking client with an insurance claim

The Certificate III in Insurance Broking provides a foundation for further studies at Certificate IV or Diploma level in Insurance Broking.

Students who complete the Certificate III in Insurance Broking are equipped for roles such as Administration Assistant/Data Processor/Client Service Officer/Brokers Assistant/Claims Service Officer. Completing the ASIC electives will meet ASIC RG146 requirements for Tier 2 advisers.

This course can be offered as a traineeship to eligible students.  LMI College will assist employers to arrange an eligibility check on employees with the relevant Australian Apprenticeship Centre in their area.

Contact LMI College Pty Ltd to arrange an eligibility check.

Learners will be allocated a timeline for completion on their learner dashboard. The average timeline for completion is between 12 and 18 months depending on the learner’s previous experience and exposure to practical application within the work environment.

Course Content

This course contains the following modules and units of competency

  • Module 1- Introduction to Insurance

Students will learn the role played by the insurance broker and other members of the general insurance industry and how they interact and the types of insurance broking products are available in the market place and the processes involved in placing cover.

  • Combination true/false, multiple choice and short answer questions
  • Case studies
  • Practical assessments (learners unable to complete practical assessments will be provided with
  • case studies and additional methods of assessment)
  • Trainer/Assessor or supervisor’s observation in the workplace
  • Post gap assessment test, role play or verification questions (if required).
FNSINC301 Work effectively in the financial services industry
  • Module 2 – RG146 Tier 2 General Insurance and Insurance Broking Practices

This module covers the knowledge and skills required to meet ASIC RG146 Tier 2 requirements. The module incorporates the course materials and assessments from our Tier 2 Short Course:

  • Fundamental Compliance – Provision of Advice and Disclosure
  • Advice on Private Motor Insurance
  • Providing Advice on Domestic Property Insurance
  • Gap assessment test – this test determines the students current level of knowledge and allows us to determine gap training requirements and to give consideration to prior knowledge (if applicable).
  • Combination True/False, multiple choice and short answer questions.
  • Case studies.
  • Practical assessments (students unable to complete practical assessments will be provided with case studies and additional methods of assessment).
  • Trainer/Assessor or supervisor’s observation in the workplace.

This module covers the following units of competency:

FNSASIC304 Provide Tier 2 general advice in general insurance
FNSASIC305 Provide Tier 2 personal advice in general insurance
BSBCUE309 Develop product and service knowledge for customer engagement operation
FINSIBK302 Provide general advice in general insurance broking products and services
  • Module 3 - Claims Handling

This module provides students with a basic understanding of the insurance broker’s role in providing a claims service and the processes involved, including the information and documents to collect.  There are two sub-modules:

Part 1 Handling Private Motor Claims and Part 2 Handling Property Claims

  • Gap assessment test – this test determines the students current level of knowledge and allows us to determine gap training requirements and to give consideration to prior knowledge (if applicable).
  • Combination True/False, multiple choice and short answer questions.
  • Case studies.
  • Practical assessments (students unable to complete practical assessments will be provided with case studies and additional methods of assessment).
  • Trainer/Assessor or supervisor’s observation in the workplace.

This module covers the following units of competency:

FNSIBK404 Provide a claims service to an insurance broking client
FNSISV405 Analyse Insurance Claims
BSBCUS301 Deliver and monitor a service to customers
  • Module 4 – Sales and Insurance Broking Practices

This module requires the student to undertake practical training on the provision of advice and arranging of retail insurance for clients.

  • Combination True/False, multiple choice and short answer questions.
  • Case studies.
  • Practical assessments (students unable to complete practical assessments will be provided with case studies and additional methods of assessment).
  • Trainer/Assessor or supervisor’s observation in the workplace.
  • Final verification questions via telephone.

This module includes the following units of competency:

BSBCUE404 Collect, analyse and record information
BSBCUE304 Provide sales solutions to customers
FNSIBK402 Implement new or renewed insurance program for insurance broking clients
FNSIBK403 Place client insurances with insurer and confirm insurance cover with clients