INSU07013 2022 Personal General Insurance 2 (Practice)

Identify and evaluate a consumer's insurance needs; taking account of up-to-date knowledge of products and insurance providers.

Analyse the information gathered and develop effective solutions to meet the risks faced by the consumer; with required documentation; while highlighting the issues that are of particular importance to a range of personal general (including PMI) insurance.

Display specialist knowledge of the scope of personal lines and private medical insurance products which are available in the Irish market.

Demonstrate the step-by-step procedures involved in insurance claims.

Act effectively under guidance in a peer relationship with qualified practitioners; learn to act in variable unfamiliar learning contexts managing tasks independently, professionally and ethically.

This module will be delivered through self-directed learning with the support of a supervisor and mentor in the student's workplace. This module complements "Personal General Insurance 1" module and allows the student to integrate their academic knowledge gained into a practical work-based setting in the completion of a number of case studies and on-the-job tasks. The student will have ample choice to enable them to pick an agreed number of case studies and tasks from the work-based syllabus. The student should focus on case studies that are appropriate to their working environment. The completed case studies will be submitted through the learning management system having been signed off by their supervisor. The completed case studies will be reviewed by IT Sligo's academic programme leader.

There are specific requirements which must be met by the student in completing the experience-based syllabus. The work-based supervisor is required to validate that the case studies and tasks meet the attainment of the learning outcomes of the module. Specific criteria are provided for each of the case study areas. The student must answer the relevant questions posed in the prescribed format. The work-based supervisor will assess the case study/task on a pass / fail basis and the completed case studies (with the supervisor's report) are uploaded to the learner management system by the student. The case studies will not be considered/accepted as complete if they are not submitted with the supervisor's signature/report.

This module will be assessed 100% by continuous assessment.

This module has been designed to complement ‘Personal General Insurance 1’ module. The student will relate the topics covered in that module to their workplace environment and will work on these learnings in a business context.

This assessment examines the student's understanding and application of knowledge. These questions will require students to link pieces of information together in a cause-and-effect relationship and apply their knowledge and/or understanding to a given set of circumstances.

The answers will involve an essay-type response.

If the work-based supervisor fails to sign-off on the student's submission, the student has a maximum of 3 opportunities to submit their work.

A submission will not be accepted or considered complete if the work-based supervisor has not signed off on the work.

LO1 KNOWING THE CONSUMER AND SUITABILITY

• Describe the main items of information about a consumer that should be sought before providing advice about a general insurance policy.
• Explain the criteria used to make recommendations to consumers with regard to both insurance products and insurers.
• Outline the scope of a statement of suitability used to detail the reasons underlying any advice given to the consumer regarding a general insurance policy.

LO2 & LO3 MOTOR INSURANCES

• Demonstrate the legal basis for motor insurance practice, the scope and limitations of different private motor insurance covers and standard options available.
• Outline the questions that encourage the consumer to disclose the necessary material information to enable advisers to provide them with the most appropriate private motor insurance product.
• Demonstrate the scope and limitations of motorcycle, guaranteed asset protection (GAP) and vans/light commercial vehicle cover.

LO2 & LO3 HOUSEHOLD INSURANCES – DEFINITIONS, INSURABLE VALUES AND INFORMATION GATHERING

• Explain the scope of, and variations in, definitions used in household insurance and demonstrate the means of establishing accurate sums insured under household policies.
• Explain the questions that will encourage consumers to disclose the necessary material information to enable advisers to provide them with the most appropriate household insurance product.

LO2 & LO3 HOUSEHOLD INSURANCES

• Describe and apply the scope and limitations of different household buildings and contents insurance covers and standard options available.
• Outline the scope and limitations of different specialist insurance policies.

LO2 & LO3 TRAVEL AND PROTECTION INSURANCES

• Demonstrate the scope and limitations of travel and personal accident and sickness insurance covers in order for consumers to be provided with the most appropriate products in these classes of insurance.
• Outline and apply the range of insurers' risk-related health products and services.
• Demonstrate the scope and limitations of payment protection insurance.

LO2 & LO3 PRIVATE HEALTH INSURANCE

• Illustrate the private health insurance principles and minimum benefit regulations that impact on the scope of cover these products provide.
• Describe the scope and limitations of different private health insurances covers and the standard options available and identify questions that encourage the consumer to disclose the necessary material information to enable advisers to provide them with the most appropriate private health insurance product.
• Identify and apply the tax treatment of medical expenses and private health insurance premiums and benefits and outline the rules for transferring between private health insurers.

LO4 THE CLAIMS PROCESS

• Identify the stages of the claims process and demonstrate the role of the intermediary in this process. 
• Demonstrate the general insurance claims process and explain the roles and responsibilities of all parties throughout this process.