VOCATIONAL EDUCATION AND TRAINING STANDARD FOR AN INSURANCE CONSULTANT

Transcription

1 THE REPUBLIC OF LITHUANIA MINISTRY OF EDUCATION AND SCIENCE MINISTRY OF SOCIAL SECURITY AND LABOUR VOCATIONAL EDUCATION AND TRAINING STANDARD FOR AN INSURANCE CONSULTANT Vocational education level 3 Vilnius, 2008

2 EUROPOS SĄJUNGA PROFESINIO MOKYMO METODIKOS CENTRAS Europos socialinis fondas ŠVIETIMO IR MOKSLO MINISTERIJA KURKIME ATEITĮ DRAUGE! Development of the Standard was financed by European Union and by the Republic of Lithuania under the Project No BPD2004-ESF /0156 Development of the System of VET Standards Development of the Standard was coordinated by the Methodological Centre for Vocational Education and Training Profesinio mokymo metodikos centras, 2008

3 APPROVED by Order No ISAK-1970/A1-279 of the Minister for Education and Science of the Republic of Lithuania and of the Minister for Social Security and Labour of the Republic of Lithuania of 8 October, 2007 VOCATIONAL EDUCATION AND TRAINING STANDARD FOR AN INSURANCE CONSULTANT I. PARTICULARS OF THE VET STANDARD 1. Vocational education level 3 rd. 2. State code S Qualification awarded an insurance consultant. 4. Basic education basic. II. CONTENT OF THE VET STANDARD 5. Brief description of occupational activity: 5.1. The VET Standard for an insurance consultant (hereinafter referred to as the Standard ) has been developed taking into account employer requests and requirements for a modern insurance consultant, changes on the labour market and the findings of the qualification study carried out by the Standards Development Working Group. The present Standard serves as a basis for the development of a training programme of vocational education level Upon successful completion of the training programme of an insurance consultant, governed by this Standard, a person acquires professional competencies in the following activity areas: organising activity of an insurance consultant; sale of insurance services; providing advice to clients upon conclusion of an An insurance consultant searches for potential insurance company s clients, clarifies content and peculiarities of insurance types, calculates insurance amounts and insurance premiums, concludes and formalises agreements of different insurance types, provides advice to existing and potential clients of the insurance company on all insurance issues. An insurance consultant may work independently or as part of a team in an insurance undertaking The following personal qualities are key for an insurance consultant: communicativeness, activeness, excellent communication skills, eloquence, pleasant looks, resilience to stress, self-discipline, a sense of responsibility, ability to work individually and as part of a team. 6. The purpose of an insurance consultant is to providing advice to existing and potential clients of the insurance company and to sell insurance services. 7. Activity areas and competencies of an insurance consultant are listed in Appendix 1 to the Standard. 8. Range of competencies, training objectives and competency assessment of an insurance consultant are provided in Appendix 2 to the Standard. 9. Successful work as an insurance consultant requires the following general skills: 9.1. convincingness; 9.2. self-confidence; 9.3. ability communicating and cooperating; 9.4. ability to use information technologies;

4 9.5. ability to work individually and as part of a team; 9.6. proactiveness; 9.7. flexibility; 9.8. independence of thinking and activity; 9.9. a sense of responsibility. 10. Final qualification assessment: The qualification of an insurance consultant is awarded to a pupil who has completed the whole training programme, acquired competencies defined in the Standard and has been given a positive final qualification evaluation In accordance with the competency assessment criteria listed in the Standard, the following is tested and evaluated: during the training process - all competencies defined in the Standard; during the final qualification assessment - selected competencies Organisation and performance of the final qualification assessment and issuance of documents is regulated by the Ministry of Education and Science of the Republic of Lithuania.

5 Appendix 1 to the VET Standard for an insurance consultant AREAS OF ACTIVITY AND COMPETENCIES OF AN INSURANCE CONSULTANT Activity Areas 1. Organising activity of an insurance consultant Competencies 1.1. Drawing up a work plan of an insurance consultant 1.2. Using insurance market specific features in organising one's own activity 1.3. Building a client database 2. Sale of insurance services 2.1. Identifying potential client needs 2.2. Preparing a commercial proposal matching with client needs 2.3. Presenting a commercial proposal 2.4. Drawing up an 3. Providing advice to clients upon conclusion of the 3.1. Providing advice to the client during the term of the 3.2. Informing clients about novelties of the insurance company 3.3. Renewing an

6 Appendix 2 to the VET Standard for an insurance consultant RANGE OF COMPETENCIES, TRAINING OBJECTIVES AND COMPETENCY ASSESSMENT OF AN INSURANCE CONSULTANT Activity Areas 1. Organising activity of an insurance consultant Description of Competencies Competencies Range of Competencies 1.1. Drawing up a work plan of an insurance consultant Consultant's activity plan. Working time planning. Formation of the consultant's client portfolio. Client types. Collection of information about potential clients. Search for potential clients. The basics of professional ethics. Visit plans. Advertising of the insurance company. Client database protection rules. Document accounting and storage rules. Training Objectives Planning one's own activity and working time Knowing insurance market segmentation criteria and knowing how to identify the target market Knowing methods of collection of information about potential clients Drawing up client visit plans Establishing first contact with a potential client Promoting the insurance company Formalising documents related to employment relations Competency Assessment Activity and working time planning methods Methods of collection of information about potential clients named. A work plan of an insurance consultant drawn up. Insurance market segmentation features A target market identified. Client visit plans drawn up. First contact with a potential client made. An insurance company promoted in a practical situation. Protection rules of the client database

7 1.2. Using insurance market specific features in organising one's own activity 1.3. Building a client database Insurance sectors. Insurance groups. Classification of insurance business. Legal forms of organising insurance business. Economic forms of insurance companies. Objectives of insurance companies. Legislation of the Republic of Lithuania governing insurance business in Lithuania. Insurance market research. Life insurance companies registered In Lithuania. Non-life insurance companies registered In Lithuania. Insurance brokers. Influence centres. Personal environment monitoring. New clients of the insurance company. Client database Knowing insurance business classification Knowing the legal framework of the Republic of Lithuania necessary for the insurance business Knowing key insurance market players Knowing insurance market research methods Knowing specific features of insurance companies, comparing them with other business undertakings Knowing insurance companies registered in Lithuania and their services Working with influence centres Looking for new potential insurance company clients Populating client database named. Documents related to employment relations formalised. Insurance business classification Legislation governing insurance business in Lithuania named. The Lithuanian insurance market and it players Insurance market research methods A specified practical situation resolved and Methods of working with influence centres Methods for search of new insurance

8 2. Sale of insurance services 2.1. Identifying potential client needs 2.2. Preparing a commercial proposal matching with client needs Preliminary client needs identification taking into account client type. Verbal and nonverbal communication. Communication barriers and minimising their impact. Satisfying the existing client needs with insurance services. Forming an insurance service package for a potential client in accordance with client needs. Rules of insurance types. Preparation of commercial proposals. Application of information technologies. Specialised insurance software Identifying potential client needs by client type Knowing ways of communication methods Knowing communication and information transfer barriers Determining client needs in the course of communication Drawing up an insurance service package for the client upon identification of his needs Calculating the insurance amount and insurance premium Preparing a commercial proposal for insurance service, using information technologies Preparing electronic presentation of the insurance service company clients New clients found. Client needs Preliminary client needs identified through a practical situation. Ways of communication Communication barriers Client needs identified through a practical situation. An insurance service package for a client drawn up. Rules of insurance type The insurance amount and insurance premium calculated. A commercial proposal for insurance service, using information technologies or specialised insurance software prepared. An electronic presentation of the

9 2.3. Presenting a commercial proposal 2.4. Drawing up an Presentation of the insurance company and its insurance services. Holding business negotiations. Steps in selling insurance services. Rules of insurance types. The basics of professional ethics. Knowledge of correct usage of the official language. The basics of foreign language in the area of one's profession Presenting insurance company's services using available advertising and other means Knowing phases of holding business negotiations Knowing steps in selling insurance services Knowing the rules of a specific insurance type, advantages and shortcomings of the presented insurance service Presenting the insurance service to the client in the official or a foreign language Rules of insurance types. Methodological instructions for concluding agreements for insurance types. Spreadsheet software for insurance services Clarifying to the client conditions for concluding an insurance agreement in the official or a foreign language Formalising agreements of various insurance types in accordance with the data and documents submitted by the client Requests to draw up Obtaining a recommendation insurance service prepared. The insurance company and its services presented through a practical situation. Phases of holding business negotiations Steps in selling insurance services The rules of a specific insurance type Advantages and shortcomings of the presented insurance service named. The insurance service presented to the client in the official or a foreign language. Methodological instructions for concluding agreements for insurance types Conditions for concluding an

10 an. Health questionnaires. Insurance policies. Insurance policy registration and accounting procedure. Insurance premium payment receipts. Recommendations. Report preparation. The procedure for drawing up an insurance company's financial statement. Specialised insurance software. Safe work with computer hardware. The main principles of personal logistics. from clients Working with specialised computer programs used in insurance companies Preparing required reporting reports Calculating performance results of an insurance consultant taking into account the identified goals Clarifying to the client the main documents of the insurance company's financial statement as indicators of the company's trustworthiness Observing civil safety and work safety requirements clarified to the client insurance in the official or a foreign language through a practical situation. An application for drawing up an filled in. A health questionnaire filled in. An insurance policy prepared, using specialised insurance software. An insurance premium payment receipt filled in. Recommendations obtained. Insurance policy registration and accounting procedure Reports prepared. Performance results of an insurance consultant calculated. Insurance company's solvency indicators explained to the client using the

11 3. Providing advice to clients upon conclusion of the insurance agreement 3.1. Providing advice to the client during the term of the insurance agreement Loyalty of existing clients. Insurance premium payment procedure and methods. Possibilities for suspension. Consequences of defaulting on insurance premium payments. Insurance claim payment procedure. The procedure for formalisation of termination. Rules of insurance types. Specialised insurance software Maintaining and strengthening client loyalty to the insurance company Controlling payment of insurance premiums and insurance agreement validity terms Clarifying possibilities for suspension to the client Informing the client about his actions in case of an insurable event Terminating the insurance agreement company's balance sheet and a profit and loss report through a practical situation. Work safety requirements observed in the course of work. Ways of retaining client loyalty to the insurance company Insurance premium payment procedure and methods Possibilities for suspension Insurance claim payment procedure A specified practical situation resolved and A client informed about his actions in case of an insurable event through a practical situation. Client's insurance agreement termination

12 3.2. Informing clients about novelties of the insurance company 3.3. Renewing an Advertising types of and methods. Marketing tools. Current client database. Sale of new / supplementary insurance services. Rules of insurance types. Specialised insurance software. Methodological instructions for concluding agreements for insurance types. Adjustment of client needs. Preparation of commercial proposals for renewing an agreement. Application of information technologies. New price of an insurance service: domestic economic situation, insurance market situation, client's personal situation. Sale of supplementary insurance services Clarifying the idea of marketing tools and their influence on sale Presenting insurance company's promotion campaign to the client Familiarising the client with insurance company's novelties Proposing to the client to use insurance company's novelties in order to enhance insurance services Renewing the existing insurance agreement or drawing up a new one Providing advice to the client regarding changes in the insurance agreement conditions Resolving conflict situations involving clients Providing a new supplementary insurance service formalised. Insurance company's promotion campaign presented. A client informed about insurance company's novelties. A supplementary insurance service proposed to the client. Client needs detailed through a practical situation. A commercial proposal prepared for renewing the. Changes in the conditions Advice regarding changes in the provided to the client through a practical situation. A conflict situation involving a client solved. An insurance agreement extend. A new supplementary

13 insurance service presented.