Supporting the sale and renewal of insurance products.
This standard has options. Display duties and KSBs for:
This occupation is found in the financial services sector in commercial organisations. Insurance is the transfer of risk to allow offsetting of financial loss and consequently insurance services are very in demand and wide ranging. Employers particularly include very large (even global) corporations but can also include far smaller enterprises and third party vendors. Insurance practitioners also work for brokers who act as intermediaries on behalf of clients.
Many insurers will typically specialise in retail insurance products and services such as car, life and health insurance. Clients may be individuals seeking cover for themselves, or the client may be an organisation seeking the insurance of their business assets.
The broad purpose of the occupation is to provide insurance coverage and recourse in the event of a loss, servicing the expectations of client's policies as they arise. Insurance practitioners provide an important role in the administration of applications and claims. They must understand the needs of clients in order to help provide peace of mind to businesses and individuals by protecting their interests in the event of loss. Most insurance practitioners work is office based.
In their daily work, an employee in this occupation interacts with internal and/or external stakeholders that includes but is not limited to clients, underwriters, senior management, claims, brokers and third party vendors. Individuals in this occupation normally work as part of a team and are typically supervised by an insurance professional. Employees liaise with other specialists and professions, including policy and legal teams. They will interact with these stakeholders identifying and investigating possible or apparent anomalies in documentation or other sources of evidence. Employees may also interact with third party agencies in order to support their work, such as law enforcement agencies.
An employee in this occupation will be responsible for providing a fair and impartial service for the client. Insurance can make an important difference to clients facing key life events following a loss, so the insurance practitioner must act in ways that show empathy and understanding to the client while ensuring they consistently work within the regulatory requirements of the industry and to the quality and target related expectations of their own organisation.
Insurance practitioners typically work in one of three distinct sub-occupations. Junior Insurance Brokers represent their client's needs to an insurance provider and look to support sales maximisation. Insurance Underwriting Assistants assess the risk of insuring something and will provide guidance to others in the team. Insurance Claims Handlers/Junior Loss Adjusters are the first point of contact on the customer journey managing the life cycle of a claim to conclusion.
Entry requirements are a matter for individual employers. However, by the gateway to end-point assessment, apprentices must have achieved either:
30 credits towards the CII Certificate in Insurance (excluding mandatory unit IF1),
OR 30 credits towards the CII Certificate in London Markets Insurance (excluding mandatory unit LM1)
OR parts CH2 and CH3 (equalling 30 credits) (excluding mandatory unit CH1) of the CILA Certificate in Insurance.
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Duty 1 Commercial - Support the organisation's strategic vision, commercial aims and objectives by contributing to the generation/handling of insurance products and services. This can mean, for instance, helping to attract new clients or retain existing clients through renewal. Meet numerous critical deadlines and prioritise activity appropriately to meet targets. |
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Duty 2 Analysis & decisions - Gather, analyse and interpret all data that is relevant to the delivery of insurance products and services. Identify and act upon issues arising, taking appropriate action such as making a recommendation, a decision or a referral. |
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Duty 3 Quality Assurance - Ensure the organisation's Insurance quality assurance process is completed satisfactorily to process a transaction, make a decision or recommendation. |
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Duty 4 Communicate - Liaise with relevant internal teams, specialists and external stakeholders to ensure successful conclusions to insurance issues, which could, for instance, be a decision on insurance coverage or a payment to a client. |
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Duty 5 IT Systems - Create IT records and maintain up to date information relating to an insurance record via the organisations IT system(s). |
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Duty 6 Data Protection - Work with personal, confidential and sensitive information, (such as personal, commercial and financial data), following a strict legal duty to maintain the confidentiality of the information and fully adhering to organisational policies and guidelines |
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Duty 7 Regulatory - Adhere to the regulatory requirements that impact on insurance activity within own role, contributing to a compliant workplace. Work also in line with the organisation's processes, and relevant codes of conduct. |
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Duty 8 Fraud - Act as the first line of defence. Contribute to fraud reduction and detection by identifying insurance claims that could be fraudulent, escalating as appropriate within own organisation or as appropriate to relevant bodies including the police, action fraud and other affected financial services organisations. |
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Duty 9 Processing - Manage an insurance claim from start to finish, gathering all of the critical evidence needed to reach a conclusion. Escalate decisions as needed within own organisation. Payout approved claims to the client (or their representative) accurately and promptly. |
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Duty 10 Risk - Assess and decide the specific level of risk associated with a client’s request to insure. Contribute to decisions to accept and decline insurance and decisions on premium levels. |
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Duty 11 Limits - Operate within the approved financial limits, escalating underwriting issues beyond own financial authority. |
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Duty 12 Represent - Act on behalf of your client, making appropriate negotiation/representation to the insurer to provide an effective return on insurance decisions. |
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Duty 13 Products & Services - Proactively identify and recommend insurance products and services (from across the marketplace) to new and existing clients. Contribute to the broker's sales and commission targets. |
K1: How own role supports the insurance organisations strategic vision, commercial aims and objectives.
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K2: The range of potential insurance data and other information sources and how to use this to make informed judgements.
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K3: Take appropriate action on insurance issues within the limits of own authority and the relevant escalation procedures.
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K4: Engage with all relevant stakeholders - internal and/or external, to ensure successful insurance conclusions within the limits of their own authority.
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K5: The principles of data integrity, including its importance and application.
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K6: Techniques for working compliantly, including the insurance policies and procedures to be followed.
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K7: Techniques for verifying and recording customer information securely using an IT system.
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K8: verify and record customer identity, in accordance with data protection (GDPR), Financial Conduct Authority (FCA) regulation Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) and Know your Customer and organisational procedures.
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K9: Fraud indicators specific to the claims handled including the potential consequences of not managing risk.
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K10: The claims handling process.
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K11: Risk indicators specific to the underwriting processes.
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K12: The underwriting limits operating within the area of responsibility.
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K13: Insurance products and services available in the relevant market sector and appropriate for the client.
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K14: The organisational structures and control systems that are designed to ensure efficiency and accountability.
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S1: Achieve desired business outcomes within own area of insurance responsibility, in line with the organisation's commercial aims and objectives.
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S2: Identify information from a range of sources to determine an appropriate course of action including a recommendation, a decision or a referral.
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S3: Analyse data to make evidence based decisions.
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S4: Apply organisational quality assurance policies and procedures in their role and within the limits of own authority.
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S5: Apply appropriate method of communication for audience and circumstances.
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S6: Records, verifies, maintains and where appropriate, shares information.
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S7: Compliant with relevant governance, policies and procedures.
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S8: Identify work with stakeholders and creates and maintains a network of stakeholders needed to undertake casework effectively and to conclusion.
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S9: Balances competing priorities in order to meet deadlines.
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S10: Identify potential claims fraud and determine the correct action to prevent loss.
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S11: Builds and maintains positive relationships.
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S12: Manage insurance claims and/or payments within the limits of responsibility in line with policies and procedures.
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S13: Identify and manage insurance risks within the limits of responsibility in line with policies and procedures.
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S14: Gather and interpret relevant information to provide a return on insurance decisions.
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S15: Match client’s needs with available insurance products and services.
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S16: Recommend insurance and premiums decisions within the limits of responsibility and in line with organisational policies and procedures.
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S17: Optimises the potential return on insurance decisions within the scope of own role by identifying and positioning the client’s case with the insurer.
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S18: Work as part of a team to help achieve results.
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B1: Adopts a positive approach to seeing challenging insurance related situations through to completion.
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B2: Actively listens and asks constructive questions in order to build relationships effective to insurance outcomes.
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B3: Looks to keep up to date with relevant Insurance matters by taking ownership for their own learning plan.
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B4: Seeks out areas of their insurance delivery that might be improved and is proactive in offering own ideas for change.
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B5: Displays honesty and integrity in their actions. Shows desire to do the right thing, displaying tact and diplomacy in their dealings with others.
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B6: Empathetic and un-bias approach to supporting customers. Show the necessary resilience and stand by difficult decisions.
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| Option qualification | Applicable options |
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High Level QualificationCILA Certificate in Insurance Level: 3 |
| Option qualification | Applicable options |
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High Level QualificationCII Certificate in Insurance Level: 3 |
| Option qualification | Applicable options |
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High Level QualificationCII Certificate in London markets insurance Level: 3 |
This standard aligns with the following professional recognition:
3
12
| Version | Change detail | Earliest start date | Latest start date |
|---|---|---|---|
| 1.3 | End-point assessment plan revised | 05/05/2023 | Not set |
| 1.2 | Standard, funding band and end-point assessment plan revised. | 02/09/2021 | 04/05/2023 |
| 1.1 | The funding band for this standard has been reviewed as part of the apprenticeship funding band review. The new funding band is £7000 | 03/10/2018 | 01/09/2021 |
| 1.0 | Retired | 30/10/2015 | 02/10/2018 |
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