FNS51220 Diploma of Insurance Broking

Overview FNS51220 Diploma of Insurance Broking

Our FNS51220 Diploma of Insurance Broking is designed to provide relevant industry knowledge and skills for insurance brokers.

Get comprehensive learning on all your general insurance essentials, including licensing and regulation, the make-up of the insurance industry, insurance products and services, the insurance broking process, handling insurance claims, advising clients with complex needs, and marketing and practice management skills.

Undertaking a qualification enhances your professional credibility, allowing you to develop knowledge and skills that ultimately benefit your practice and your customers. Providing fit for purpose, industry-relevant learning is our way of ensuring you stay up to date and well-equipped in an evolving insurance landscape.

Our FNS51220 Diploma of Insurance Broking is compliant with the revised FNS training package and latest laws, regulatory guidance and industry codes. Developed in consultation with practising professionals, we will have incorporated new features and industry best practices, giving our students a valuable edge in the field.

View our FNS51220 Diploma of Insurance Broking brochure

 

Entry Requirements

Prospective Students need to:

  • Be 18 years of age or older
  • Be working in the insurance sector
  • Be digitally literate to: research activities, upload, download and save documents and make an audio or video recording on a smartphone, tablet or computer
  • Have suitable language, literacy and numeracy skills to undertake the training
  • Have a Unique Student Identifier

Credit Transfer and Recognition of Prior Learning

These are the processes whereby Financial Education Professionals can recognise previous training, study or work experience that is equivalent to units of competency in our Nationally Recognised Training.

Please refer to our Credit Transfer or Recognition of Prior learning page for further information.

Program Content

Learning Outcomes

What you will learn

  • How insurance professionals’ conduct is governed by financial services and insurance-specific laws, regulation, industry codes, and organisational policies
  • How to plan and implement strategies to manage compliance risks and maintain professional competence
  • Guidance on delivering appropriate insurance products and services to customers compliantly and ethically, including advice in Tier 1 general insurance and handling and settling claims
  • Product knowledge and advanced communication skills to market and distribute insurance products and services effectively.

Who is this course for?

Units of Competency

  • FNSASICY513 Provide advice in insurance broking
  • FNSIBK415 Meet compliance requirements relating to insurance broking
  • FNSIBK416 Deliver insurance broking services
  • FNSIBK518 Implement changes to insurance programs of broking clients
  • FNSIBK522 Negotiate complex claims settlement for insurance broking clients
  • FNSIBK523 Prepare submissions for new insurance broking business
  • FNSIBK524 Manage complex risk portfolios for insurance broking clients
  • FNSISV405 Analyse insurance claims
  • FNSISV408 Manage handling and settlement of routine insurance claims for retail clients
  • FNSINC412 Apply and maintain knowledge of financial products and services
  • FNSSAM521 Apply advanced techniques to provide financial products and services

Pre-requisite

Recognition of Prior Learning

Certification

Upon successful completion of all required training and assessment activities, you will receive:

  • Testamur
  • Record of results

A Statement of Attainment is awarded in partial completion of a qualification

Fees

The course fee is invoiced in four (4) equal instalments every 3 months. Under The Standards for Registered Training Organisation (RTOs) 2015, Financial Education Professionals will not accept more than $1,500 in a single payment.

On Enrolment: $845 (GST exempt)
Month 3: $845 (GST exempt)
Month 6: $845 (GST exempt)
Month 9:  $845 (GST exempt)

For more information, access our course brochure

Download Brochure

Frequently Asked Questions

Your USI is your individual education number for life. It is a compulsory requirement for all Australian students who have studied or are studying nationally recognised training. It also creates a government authenticated record of your vocational education and training (VET) achievements regardless of the training provider from 2015 onwards. It is a condition of enrolment with Financial Education Professionals that you have a USI. This is collected as part of the enrolment process. Visit www.usi.gov.au to learn more or create your USI.

To successfully study at Financial Education Professionals, students are expected to have proficient technology-related skills, plus;
  • A high-speed stable internet connection to access learning materials and assessments
  • A unique email address.
  • A smartphone - select assignment questions ask you to upload audio or video recordings as supplementary evidence.

Sound English language, literacy, numeracy and communication skills are required as these skills are incorporated in each subject. A pre-entry assessment is used to determine whether applicants have appropriate Language Literacy and Numeracy skills (LLN) to enable a successful outcome in their chosen course.

FEP is an education provider, so cannot guide you on a career path. You could start with chatting to an employer or prospective employer to determine what you would need to do. You could also check the following:
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act). Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.