Particulars of ordinary
This customary has choices. Show duties and KSBs for:
Occupation abstract
This occupation is discovered within the monetary companies sector in business organisations. Insurance coverage is the switch of threat to permit offsetting of economic loss and consequently insurance coverage companies are very in demand and broad ranging. Employers significantly embody very giant (even world) firms however also can embody far smaller enterprises and third celebration distributors. Insurance coverage practitioners additionally work for brokers who act as intermediaries on behalf of purchasers.
Many insurers will sometimes specialize in retail insurance coverage services and products corresponding to automotive, life and medical health insurance. Shoppers could also be people searching for cowl for themselves, or the shopper could also be an organisation searching for the insurance coverage of their enterprise property.
The broad function of the occupation is to supply insurance coverage protection and recourse within the occasion of a loss, servicing the expectations of shopper’s insurance policies as they come up. Insurance coverage practitioners present an vital function within the administration of purposes and claims. They have to perceive the wants of purchasers in an effort to assist present peace of thoughts to companies and people by defending their pursuits within the occasion of loss. Most insurance coverage practitioners work is workplace primarily based.
Of their day by day work, an worker on this occupation interacts with inner and/or exterior stakeholders that features however is just not restricted to purchasers, underwriters, senior administration, claims, brokers and third celebration distributors. People on this occupation usually work as a part of a workforce and are sometimes supervised by an insurance coverage skilled. Workers liaise with different specialists and professions, together with coverage and authorized groups. They may work together with these stakeholders figuring out and investigating attainable or obvious anomalies in documentation or different sources of proof. Workers may additionally work together with third celebration businesses in an effort to help their work, corresponding to regulation enforcement businesses.
An worker on this occupation will probably be accountable for offering a good and neutral service for the shopper. Insurance coverage could make an vital distinction to purchasers going through key life occasions following a loss, so the insurance coverage practitioner should act in ways in which present empathy and understanding to the shopper whereas making certain they constantly work inside the regulatory necessities of the trade and to the standard and goal associated expectations of their very own organisation.
Insurance coverage practitioners sometimes work in considered one of three distinct sub-occupations. Junior Insurance coverage Brokers signify their shopper’s must an insurance coverage supplier and look to help gross sales maximisation. Insurance coverage Underwriting Assistants assess the danger of insuring one thing and can present steerage to others within the workforce. Insurance coverage Claims Handlers/Junior Loss Adjusters are the primary level of contact on the shopper journey managing the life cycle of a declare to conclusion.
Typical job titles embody:
Account handler
Junior dealer
Loss adjuster
Underwriting assistant
Entry necessities
Entry necessities are a matter for particular person employers. Nonetheless, by the gateway to end-point evaluation, apprentices should have achieved both:
30 credit in the direction of the CII Certificates in Insurance coverage (excluding necessary unit IF1),
OR 30 credit in the direction of the CII Certificates in London Markets Insurance coverage (excluding necessary unit LM1)
OR elements CH2 and CH3 (equalling 30 credit) (excluding necessary unit CH1) of the CILA Certificates in Insurance coverage.
Core occupation duties
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Choice duties
Claims Handler/Loss Adjuster duties
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Assistant Underwriter duties
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Junior Dealer duties
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KSBs
Data
K1: How personal function helps the insurance coverage organisations strategic imaginative and prescient, business goals and targets.
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K2: The vary of potential insurance coverage information and different data sources and easy methods to use this to make knowledgeable judgements.
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K3: Take acceptable motion on insurance coverage points inside the limits of personal authority and the related escalation procedures.
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K4: Have interaction with all related stakeholders – inner and/or exterior, to make sure profitable insurance coverage conclusions inside the limits of their very own authority.
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K5: The rules of knowledge integrity, together with its significance and utility.
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K6: Methods for working compliantly, together with the insurance coverage insurance policies and procedures to be adopted.
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K7: Methods for verifying and recording buyer data securely utilizing an IT system.
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K8: confirm and report buyer identification, in accordance with information safety (GDPR), Monetary Conduct Authority (FCA) regulation Anti-Cash Laundering/Combating the Financing of Terrorism (AML/CFT) and Know your Buyer and organisational procedures.
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K9: Fraud indicators particular to the claims dealt with together with the potential penalties of not managing threat.
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K10: The claims dealing with course of.
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K11: Danger indicators particular to the underwriting processes.
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K12: The underwriting limits working inside the space of duty.
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K13: Insurance coverage services and products accessible within the related market sector and acceptable for the shopper.
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K14: The organisational buildings and management techniques which can be designed to make sure effectivity and accountability.
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Expertise
S1: Obtain desired enterprise outcomes inside personal space of insurance coverage duty, consistent with the organisation’s business goals and targets.
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S2: Establish data from a spread of sources to find out an acceptable plan of action together with a suggestion, a call or a referral.
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S3: Analyse information to make proof primarily based selections.
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S4: Apply organisational high quality assurance insurance policies and procedures of their function and inside the limits of personal authority.
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S5: Apply acceptable technique of communication for viewers and circumstances.
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S6: Data, verifies, maintains and the place acceptable, shares data.
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S7: Compliant with related governance, insurance policies and procedures.
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S8: Establish work with stakeholders and creates and maintains a community of stakeholders wanted to undertake casework successfully and to conclusion.
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S9: Balances competing priorities in an effort to meet deadlines.
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S10: Establish potential claims fraud and decide the right motion to stop loss.
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S11: Builds and maintains optimistic relationships.
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S12: Handle insurance coverage claims and/or funds inside the limits of duty consistent with insurance policies and procedures.
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S13: Establish and handle insurance coverage dangers inside the limits of duty consistent with insurance policies and procedures.
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S14: Collect and interpret related data to supply a return on insurance coverage selections.
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S15: Match shopper’s wants with accessible insurance coverage services and products.
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S16: Suggest insurance coverage and premiums selections inside the limits of duty and consistent with organisational insurance policies and procedures.
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S17: Optimises the potential return on insurance coverage selections inside the scope of personal function by figuring out and positioning the shopper’s case with the insurer.
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S18: Work as a part of a workforce to assist obtain outcomes.
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Behaviours
B1: Adopts a optimistic strategy to seeing difficult insurance coverage associated conditions by way of to completion.
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B2: Actively listens and asks constructive questions in an effort to construct relationships efficient to insurance coverage outcomes.
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B3: Seems to maintain updated with related Insurance coverage issues by taking possession for their very own studying plan.
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B4: Seeks out areas of their insurance coverage supply that could be improved and is proactive in providing personal concepts for change.
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B5: Shows honesty and integrity of their actions. Reveals need to do the suitable factor, displaying tact and diplomacy of their dealings with others.
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B6: Empathetic and un-bias strategy to supporting prospects. Present the mandatory resilience and stand by tough selections.
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{Qualifications}
English and Maths
Apprentices with out stage 2 English and maths might want to obtain this stage previous to taking the Finish-Level Evaluation. For these with an schooling, well being and care plan or a legacy assertion, the apprenticeship’s English and maths minimal requirement is Entry Degree 3. A British Signal Language (BSL) qualification is an alternative choice to the English qualification for these whose major language is BSL.
Different necessary {qualifications}
CILA Certificates in Insurance coverage
Degree: 3
Ofqual regulated
CII Certificates in Insurance coverage
Degree: 3
Ofqual regulated
CII Certificates in London markets insurance coverage
Degree: 3
Ofqual regulated
Skilled recognition
This customary aligns with the next skilled recognition:
- Skilled membership of the Chartered Insurance coverage Institute for 3
- Skilled membership of the Chartered Institute of Loss Adjusters for 3
Extra particulars
Occupational Degree:
3
Length (months):
12
Assessment
This apprenticeship customary will probably be reviewed after three years
