General Insurance Diploma FNS51115

Subject Choices
offered under the Diploma of General Insurance

2 - 3 Electives are required (depending on subjects chosen)

• General Insurance Products

  This subject focuses on home building, contents and motor vehicle insurance products to develop an understanding of insurance terminology, policy coverage and common exclusions. Students get the opportunity to not only research their own products so that they are able to confidently outline the product features and benefits and how they suit specific customer needs.

  • Unit(s):

  • FNSINC402 Develop and maintain in-depth knowledge of products and services used by an organisation or sector

• Professional Conduct in Finance

  To build a successful career in the financial services industry you need a range of skills and knowledge . This subject covers skills to work effectively in a team, manage your time, apply specific legislation that affects your role, to identifying how your organisation can be more sustainable. You will develop your own professional development plan to ensure that you continue to progress in your chosen field in financial services.

  • Unit(s):

  • FNSINC401 Apply principles of professional practice to work in the financial services industry

• Complex Insurance Contracts (E)

  This subject is very practical and covers a wide range of non-routine insurance risks. Students have the opportunity to develop their knowledge by researching a variety of insurance products to further understand their complex nature. A large number of real life case studies are also used to assess the student’s ability to underwrite risk and make a decision on acceptability.

  • Unit(s):

  • FNSISV501 Issue contracts of insurance covering non-routine and complex situations

• Claims Settlement and Recovery (E)

  Primarily this subject centres on the management of claims that are complex in nature. It covers policy exclusions, fraud indicators and possible breaches of contract. Students are assessed on their ability to document liability decisions, settle claims and make a recovery. A role play is used to demonstrate the student’s negotiation skills.

  • Unit(s):

  • FNSISV507 Implement claim recovery procedures

  • FNSISV510 Manage non-routine and complex claims

  • FNSISV511 Settle non-routine and complex claims

• Dispute Resolution (E)

  Formal disputes processes exist in financial services as a regulatory requirement. In this subject you will learn formal complaints management techniques, Internal Dispute Resolution requirements and understand the applicable External Dispute Resolution Schemes.

  • Unit(s):

  • FNSCUS402 Resolve disputes

• Client and Third Party Relationships (E)

  This subject covers the skills and knowledge required to communicate and network with a wide range of people, internal and external to the organisation, to increase efficiency, build continuing relationships and improve sales. It has a focus on relationship building and prospecting for business referrals.

  • Unit(s):

  • FNSCUS501 Develop and nurture relationships with clients, other professionals and third party referrers

• Safety and Risk Controls (E)

  This subject provides you with knowledge and skills in hazard identification, risk assessment and developing a Risk Control Plan. These are essential skills in any workplace to ensure work health and safety.

  • Unit(s):

  • BSBWHS404 Contribute to WHS hazard identification, risk assessment and risk control

• Policy Development (E)

  This subject covers the role of policy and procedure within an organisation as part of the improvement process. The subject reviews the triggers for Policy Review , the planning process, and the implementation steps. It also reviews clear standards to assist in the effective communication of Policies and Procedures and the importance of the monitoring process.

  • Unit(s):

  • FNSORG502 Develop and monitor policy and procedures

• Sales Planning (E)

  This subject takes you through developing sales plans, budgets and KPIs, as well as achieving sales budget requirements, understanding sales management techniques, promotional activities and working with teams to implement sales plans. It includes topics such as team consultation, team motivation and mentoring as well as cost consciousness.

  • Unit(s):

  • BSBSLS501 Develop a sales plan

• Advanced Selling of Financial Products (E)

  Strict rules apply to the sale of financial products. This subjects looks at how to be effective with sales but also to be compliant and ethical. The subject covers advanced level questioning and probing skills; addressing customer objections; and taking steps to close the sale. As interpersonal and presentation skills are an important aspect of sales - a component of the assessment is undertaken via a Role Play on Skype.

  • Unit(s):

  • FNSSAM501 Apply advanced selling techniques to selling of financial products and services

• Risk Management Strategies (E)

  Risk Management Strategies covers risk context and risk identification, as well as risk management processes. The subject looks into the analysis of a risk, its causes, and ways to consider risk tolerance. Strategies for controlling and treating risks, as well as reviewing and monitoring those risks, are considered.

  • Unit(s):

  • BSBRSK501 Manage risk

  • FNSRSK501 Undertake risk identification

  • FNSRSK502 Assess risks

• Manage a Sales Team (E)

  This subject covers developing sales plans, sales budgets and KPIs. A key component is the critical thinking and analysis involved in assessing customer needs. Sales management techniques and promotional activities are topics examined to ensure that you can successfully lead the sales team.

  • Unit(s):

  • FNSSAM502 Assess market needs

  • BSBSLS502 Lead and manage a sales team