Particulars of normal
This customary has choices. Show duties and KSBs for:
Occupation abstract
This occupation is discovered within the monetary providers sector in business organisations. Insurance coverage is the switch of danger to permit offsetting of monetary loss and consequently insurance coverage providers are very in demand and extensive ranging. Employers significantly embrace very giant (even world) companies however can even embrace 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 usually specialize in retail insurance coverage services and products akin to automotive, life and medical insurance. Purchasers could also be people looking for cowl for themselves, or the consumer could also be an organisation looking for the insurance coverage of their enterprise property.
The broad goal of the occupation is to supply insurance coverage protection and recourse within the occasion of a loss, servicing the expectations of consumer’s insurance policies as they come up. Insurance coverage practitioners present an vital function within the administration of purposes and claims. They need to perceive the wants of purchasers with a purpose 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 based mostly.
Of their day by day work, an worker on this occupation interacts with inside and/or exterior stakeholders that features however just isn’t restricted to purchasers, underwriters, senior administration, claims, brokers and third celebration distributors. People on this occupation usually work as a part of a group and are usually 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 doable or obvious anomalies in documentation or different sources of proof. Workers may work together with third celebration companies with a purpose to help their work, akin to legislation enforcement companies.
An worker on this occupation will likely be answerable for offering a good and neutral service for the consumer. 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 consumer whereas making certain they persistently work inside the regulatory necessities of the business and to the standard and goal associated expectations of their very own organisation.
Insurance coverage practitioners usually work in considered one of three distinct sub-occupations. Junior Insurance coverage Brokers symbolize their consumer’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 steering to others within the group. 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 embrace:
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 will need to have achieved both:
30 credit in the direction of the CII Certificates in Insurance coverage (excluding obligatory unit IF1),
OR 30 credit in the direction of the CII Certificates in London Markets Insurance coverage (excluding obligatory unit LM1)
OR components CH2 and CH3 (equalling 30 credit) (excluding obligatory unit CH1) of the CILA Certificates in Insurance coverage.
Core occupation duties
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Possibility 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 info sources and how one can use this to make knowledgeable judgements.
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K3: Take applicable motion on insurance coverage points inside the limits of personal authority and the related escalation procedures.
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K4: Interact with all related stakeholders – inside 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 information 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 info securely utilizing an IT system.
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K8: confirm and document 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 danger.
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K10: The claims dealing with course of.
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K11: Threat indicators particular to the underwriting processes.
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K12: The underwriting limits working inside the space of accountability.
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K13: Insurance coverage services and products obtainable within the related market sector and applicable for the consumer.
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K14: The organisational constructions and management programs 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 accountability, consistent with the organisation’s business goals and targets.
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S2: Establish info from a variety of sources to find out an applicable plan of action together with a suggestion, a call or a referral.
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S3: Analyse information to make proof based mostly choices.
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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 applicable technique of communication for viewers and circumstances.
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S6: Data, verifies, maintains and the place applicable, shares info.
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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 with a purpose 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 constructive relationships.
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S12: Handle insurance coverage claims and/or funds inside the limits of accountability consistent with insurance policies and procedures.
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S13: Establish and handle insurance coverage dangers inside the limits of accountability consistent with insurance policies and procedures.
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S14: Collect and interpret related info to supply a return on insurance coverage choices.
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S15: Match consumer’s wants with obtainable insurance coverage services and products.
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S16: Suggest insurance coverage and premiums choices inside the limits of accountability and consistent with organisational insurance policies and procedures.
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S17: Optimises the potential return on insurance coverage choices inside the scope of personal function by figuring out and positioning the consumer’s case with the insurer.
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S18: Work as a part of a group to assist obtain outcomes.
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Behaviours
B1: Adopts a constructive strategy to seeing difficult insurance coverage associated conditions by way of to completion.
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B2: Actively listens and asks constructive questions with a purpose to construct relationships efficient to insurance coverage outcomes.
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B3: Seems to be 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 is perhaps improved and is proactive in providing personal concepts for change.
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B5: Shows honesty and integrity of their actions. Reveals want to do the correct factor, displaying tact and diplomacy of their dealings with others.
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B6: Empathetic and un-bias strategy to supporting clients. Present the required resilience and stand by tough choices.
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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 a substitute for the English qualification for these whose major language is BSL.
Different obligatory {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
Evaluation
This apprenticeship customary will likely be reviewed after three years
