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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Further Education and Training Certificate: Short Term Insurance 
SAQA QUAL ID QUALIFICATION TITLE
66610  Further Education and Training Certificate: Short Term Insurance 
ORIGINATOR ORIGINATING PROVIDER
SGB Insurance and Investment   
QUALITY ASSURING BODY NQF SUB-FRAMEWORK
The individual Quality Assuring Body for each Learning Programme recorded against this qualification is shown in the table at the end of this report.  The individual NQF Sub-framework for each Learning Programme recorded against this qualification is shown in the table at the end of the qualification report. 
QUALIFICATION TYPE FIELD SUBFIELD
Further Ed and Training Cert  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  150  Level 4  NQF Level 04  Regular-Unit Stds Based 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Reregistered  SAQA 0695/12  2012-07-01  2015-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2016-06-30   2019-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This qualification does not replace any other qualification and is not replaced by any other qualification. 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

The purpose of the Qualification is to build knowledge and skill required by employees in Short Term Insurance who have had schooling at or below NQF level 4. It is an entry Qualification into Short Term Insurance as learners will not have acquired the necessary knowledge and skills as part of the school curriculum. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate confidently as individuals in the South African community and to respond to the challenges of the economic environment and changing world of work in the financial services industry. It should add value to the qualifying learner in terms of enrichment of the person, status and recognition.

As a Qualification that covers Short Term Insurance related learning, it provides a framework for learners to develop competencies that will give them insight into the Short Term Insurance sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the field that will enable learners to be informed workers in the industry. It provides a balanced learning experience that allows flexible access to life-long learning, higher education and to productive employment in Short Term Insurance. It provides an opportunity for learners to learn and apply academic skills in relation to the workplace and will allow for multi-skilling.

The FETC: Short Term Insurance allows the individual to work towards a nationally recognised Qualification. It is flexible enough to accommodate both learners in formal education and learners already employed in the Short Term Insurance sector. The focus is on basic information gathering, analysis, presentation and the ability to apply knowledge of the field to solve routine problems within given frameworks.

Qualifying learners should be knowledgeable about and competent in:
  • Carrying out basic research, information gathering and analysis.
  • Interpreting current affairs and their influence on Short Term Insurance.
  • Communication and Mathematical Literacy at a level that allows them to operate effectively in the financial services industry.
  • Behaviour and ethics in a work environment and the implications, consequences and liability arising out of non-compliance with relevant legislation.
  • Managing aspects of personal finances.
  • Knowledge of Short Term personal and/or commercial lines products.
  • Customer care including internal and external customers.
  • Understanding the key terms, rules, concepts and principles of the Short Term sub-sector, in general and their chosen career path, in particular.
  • Knowledge of insurable risk and application of the law of contract in Short Term Insurance.
  • Managing an information system used in Short Term Insurance.

    Rationale for the qualification:

    The National Certificate in Short Term Insurance: NQF Level 4 was registered in June 2002 to meet the needs of learners in a variety of positions in the Short Term Insurance sub-sector which includes personal and commercial lines. It is a generic Qualification with specialisation in a selected career path in the Short Term Insurance industry. The Qualification has been reviewed and The FETC: Short Term Insurance replaces the National Certificate in Short Term Insurance: NQF Level 4.

    The original Qualification has been expanded and the FETC: Short Term Insurance is a more holistic Qualification than the registered National Certificate in Short Term Insurance: NQF Level 4. It is a first step for learners who:
  • Have attained the National Certificate in Financial Services: Level 3 and wish to continue on a path of life-long learning specialising in Short Term Insurance.
  • Have worked in the Short Term Insurance sub-sector for many years, but have no formal Qualifications in their area of specialisation.
  • Are in a learnership agreement in the Short Term Insurance sub-sector.
  • Have recently taken up a position in Short Term Insurance.
  • Require a Qualification for licensing purposes in order to advise clients on Short Term Insurance policies.

    Learners employed in Short Term Insurance at this level may be Short Term Insurance Intermediaries who advise on Short Term Insurance products, Internal Broker Consultants, Call Centre Operators, Personal Accident Administrators, Personal lines Administrators, Commercial Lines Administrators, Claims, Negotiators, Technicians or Assessors, Client Service Providers, Service Agents, Underwriting Agents, Product Developers, Motor Assessors, Assessors, Reinsurers, Underwriters, Personal Assistants, Secretaries, Service Centre Staff, IT Systems Designers and Analysts in Short Term organisations or learners who work in Marketing Departments of Short Term Insurers. They do work that requires an understanding of the Short Term sub-sector within the context of the Financial Services Industry and some specialisation in their selected career path. The work roles are in personal, commercial/business lines and specialised areas of business such as aviation, transportation (marine) and agricultural Insurance. The Qualification is intended for learners in personal lines and business/commercial lines Insurance who advise on selected Insurance products. It specifically excludes giving advice on the management of risk in commercial/business lines.

    Note that:
  • Learners who work in the retail industry and sell Insurance as part of their work but are not in a career path in the Insurance industry should do the FETC: Retail Insurance.
  • Learners whose work focus is mainly on the management of risk and who give advice on commercial lines or business Insurance as a means of managing risk should do the National Certificate in Risk Management: Level 4. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 3.

    Recognition of prior learning:
  • The FETC: Short Term Insurance allows open access. Provision has been made for prior learning to be recognised if a learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this Qualification. Application for Recognition of Prior Learning (RPL) should be made to a relevant accredited ETQA.
  • Credit towards a Unit Standard is subject to quality assurance by a relevant accredited ETQA and is conducted by a workplace assessor.
  • This Qualification can be obtained in part or in whole through Recognition of Prior Learning.
  • RPL will be done using a range of assessment tools and techniques that have been jointly decided upon by the le arner and the assessor.
  • The same principles that apply to assessment of the Qualification and its associated Unit Standards apply to RPL.

    Access to the qualification:
  • There is open access to this Qualification bearing in mind the Learning Assumed to be in Place, detailed above. 

  • RECOGNISE PREVIOUS LEARNING? 

    QUALIFICATION RULES 
    The Qualification consists of a Fundamental, a Core and an Elective Component.

    To be awarded the Qualification, learners are required to obtain a minimum of 150 credits as detailed below.

    Fundamental Component:

    The Fundamental Component consists of Unit Standards in:
  • Mathematical Literacy at NQF Level 4 to the value of 16 credits.
  • Communication at NQF Level 4 in a First South African Language to the value of 20 credits.
  • Communication in a Second South African Language at NQF Level 3 to the value of 20 credits.
  • Financial Literacy at NQF Level 4 to the value of 12 credits.

    It is compulsory therefore for learners to do Communication in two different South African languages, one at NQF Level 4 and the other at NQF Level 3.

    For the purpose of this Qualification twelve credits are also required for Financial Literacy at NQF Level 4. Although this is not a SAQA requirement, it is consistent with the philosophy that has been used in all Insurance and Investment Qualifications, as the Financial Services industry believes that if learners are to function in a field that manages people's money, they should be able to manage their own finances.

    All Unit Standards in the Fundamental Component are compulsory.

    Core Component:

    The Core Component consists of Unit Standards to the value of 51 credits all of which are compulsory.

    Elective Component:

    The Elective Component consists of Unit Standards to the value of 352 credits. Learners are to choose Unit Standards to the minimum of 31 credits.

    There is a wide range of Unit Standards that may be selected as Electives in this qualification. This reflects the variety and nature of the work role in Short Term Insurance, provides for maximum flexibility and allows learners to achieve a qualification that is relevant to the work that they do and to their chosen career paths. It also enables Short Term intermediaries in personal and commercial lines to meet the requirements of the Financial Services Board (FSB) for licensing.

    Electives selected may relate directly to the learner's work role in an organisation or may be life or management skills to enhance employability. The Elective Unit Standards have been grouped to facilitate selection. The grouping does not imply that learners should select Electives from only one specific category.

    Electives have been grouped under the headings:
  • General Short Term.
  • Short Term Risk (underwriting and claims).
  • General industry.
  • Sales and client care.
  • Personal Lines.
  • Management.
  • Motor Assessors.
  • Personal Development.
  • Legislation.
  • Computer Literacy.
  • Commercial Lines (including engineering agriculture, marine and aviation and other specialised fields).

    Unit Standards for Trustees of Retirement Funds and Medical Schemes, including fiduciary duties have been included as learners could be elected to such positions and need to know what these positions entail. Trustee training has been identified as a national necessity by the Department of Finance and the Financial Services Board.

    The Insurance industry is highly regulated. It is therefore essential that all learners select the Unit Standards that deal with the Legislation that is appropriate to their chosen career path or specialisation as Electives. Intermediaries and learners who give financial advice, for example, should include the following Unit Standards as electives:
  • Apply the regulations for disclosure that are required as part of the financial sales process. 

  • EXIT LEVEL OUTCOMES 
    The focus of the FETC: Short Term Insurance is on fundamental knowledge of Short Term Insurance and an ability to apply appropriate processes and procedures to solve problems in a familiar context, to adjust applications when required and to motivate the change. Learners are required to apply literacy and numeracy skills to different Short Term Insurance contexts. They are expected to gather, analyse and evaluate information from a range of sources and to present and communicate information reliably and accurately verbally and in writing.

    Learners should have the capacity to take responsibility for their own learning within a supervised environment and should be able to evaluate their own performance and address their shortcomings.

    The Exit Level Outcomes and their Associated Assessment Criteria are the following, which means that the learner will be capable of:

    1. Carrying out basic research tasks and applying literacy and numeracy skills to analyse, interpret and evaluate information from a range of sources related to Short Term Insurance or reInsurance.

    2. Managing personal finances.

    3. Apply knowledge of legislation, ethics, compliance and organisational protocols in the Short Term Insurance environment.

    4. Manage own work situation and interpersonal interactions.

    Exit Level Outcomes for the Critical Cross-Field Outcomes

    The learner can demonstrate ability to:
  • Identify and solve problems in familiar Short Term Insurance contexts in which responses show that responsible decisions have been made, adjust common solutions to meet changes in the problem and motivate the change within own limit of authority.
  • Work effectively with others as a member of a team, group, organisation or community. As the qualification is intended to be part of a learnership it is unlikely that the learner would work alone.
  • Organise and manage oneself and one's activities responsibly and effectively in that it is expected that the learner will be responsible for his/her own learning and for organising his/her own work allocated tasks responsibly in the work environment. S/he is required to complete research assignments timeously and to apply knowledge of different aspects of Short Term Insurance. S/he should be able to provide for his/her own financial security and manage his/her own finances.
  • Collect, organise and critically evaluate information. These competencies are built into the assessment criteria in many of the unit standards and the learner is required to do research projects and analyse information from the media.
  • Communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations. These competencies are an integral part of all the Unit Standards and are built into the assessment criteria.
  • Use science and technology effectively and critically showing responsibility towards the environment and the health of others in that the Short Term Insurance environment is technology driven and very few activities take place without the application of technology. The learner is also expected to access information from electronic media and use a computerised data base.
  • Demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation in that references are made wherever applicable to the learner's part in the big picture and how his/her actions have implications up and down the line. The learner is expected to know and understand the Insurance organisation as a system within the wider financial services context.

    In addition this qualification contributes to the full personal development of each learner and the social and economic development of the society at large, by making it the underlying intention of any programme of learning to make the individual aware of the importance of:
  • Reflecting on and exploring a variety of strategies to learn more effectively in order to become an informed worker in Short Term Insurance.
  • Being culturally sensitive across a range of social contexts in dealing with diverse people in the workplace including internal and external customers.

    Exit points for learners who do not complete a Qualification:
  • Learners will be credited with Unit Standards in which they have proved competence.
  • Learners who complete individual Unit Standards but do not complete this Qualification retain their credits. However, should the substance of the Unit Standards change, the validity of the credit towards the Qualification may be reviewed.
  • Learners who change their provider or learning site before completing the Qualification may transfer their credits to the new learning site.
  • An official, original NLRD record of learning is required as proof of learning before the learner is officially transferred to the new learning site. 

  • ASSOCIATED ASSESSMENT CRITERIA 
    1.
  • Current events and developments that could impact on Short Term Insurance are analysed and discussed and a personal point of view is offered in the discussion indicating ability to anticipate or predict future trends.
  • Knowledge learnt in various Unit Standards and current events as they occur are integrated with a developing understanding of the Short Term environment in general and a selected career path in particular, so that knowledge of the industry is applied in authentic situations.
  • Information is gathered, analysed, summarised, interpreted from a range of sources and presented reliably and accurately. Positions taken are motivated and substantiated.
  • Different Short Term products, policy documents and schedules are analysed to determine cover.
  • Important areas of Short Term Insurance are explained with reference personal or commercial/business Insurance.

    2.
  • The basic principles and different forms of individual income tax are explained with reference to an individual's liability and duty to pay tax.
  • Basic financial statements are analysed and used to make a personal financial decision.
  • Knowledge of financial risk is applied and managed in own life.

    3.
  • Methods, procedures and techniques of Short Term Insurance are explained with reference to specific company policy, and industry practices.
  • Information is gathered, analysed, evaluated, interpreted, recorded and presented and decisions are explained within own authority limits or mandate and with due regard for compliance.
  • The concept of ethics is explained with reference to an organisations code of conduct and an individual's personal and property rights.
  • Knowledge of legislation is applied to Short Term Insurance.
  • Risks associated with non-compliance or non-activity that could result in liability are identified within the context of Short Term Insurance.
  • Knowledge of personality styles and emotional intelligence are applied to customer service.

    4.
  • Own work meets generally accepted standards in terms of output and behaviour.
  • Interpersonal relationships contribute to sound team dynamics.
  • The learner is able to reflect on own practice with a view to improving work performance.

    Integrated assessment:
  • Assessment practices must be fair, transparent, valid and reliable and should ensure that no learner is disadvantaged. Learners who wish to be assessed against the competencies in the Qualification and/or associated Unit Standards should direct enquiries to the relevant ETQA.
  • The focus of assessment must be on the assessment of the learning outcomes rather than learning outputs. The Specific Outcomes guide the learning and training process towards the outcomes on a continuous basis. The purpose is to determine whether the outcomes have been attained. Situations should present a wide range of options. Applications should require significant choices from a wide range of procedures and in a number of contexts.
  • Learning, teaching and assessment are inextricably linked. Where appropriate, assessment of knowledge, skills, attitudes and values indicated in the various Unit Standards should be integrated. Assessment in communication, mathematical literacy and financial literacy should use authentic workplace contexts wherever practical.
  • Assessment has a formative monitoring function. Formative assessment should be used to assess gaps in the learners' skill and knowledge and to indicate where there is a need for expanded opportunities. The goal is to promote learning and to assess the efficacy of the teaching and learning process. Feedback from assessment informs teaching and learning and allows for the critique of outcomes, methodology and materials. Formative assessment is diagnostic and as such it should guide the learner and the trainer. It is continuous and is used to plan appropriate learning experiences to meet the learner's needs. It provides information about problems experienced at different stages in the learning process. As it is criterion referenced, if the learner has met the assessment criteria, he/she has achieved the outcomes.
  • Assessment should also have a summative component. Summative assessment may be used on completion of a Unit Standard, but should not be the only form of assessment.
  • A variety of methods must be used in assessment and tools and activities must be appropriate to the context in which the learner is working. Assessment should take place in an authentic context as far as is possible. Where it is not possible to assess competence in the workplace, simulations, case studies and other similar techniques should be used to provide a context appropriate to the assessment.
  • Integration implies that theoretical and practical components should, where possible, be assessed together. Integrative techniques should be used to assess applied competence. Learners should be required to demonstrate that they can perform the outcomes with understanding and insight.
  • Assessment should ensure that all Specific Outcomes, embedded knowledge and Critical Cross-Field Outcomes are evaluated. Assessment of the Critical Cross-Field Outcomes should be integrated with the assessment of the Specific Outcomes. The Critical Cross-Field Outcomes are implicit in some Unit Standards and programmes should be designed to extend and further reflect the integration.
  • Before The FETC: Short Term Insurance is awarded learners are required to demonstrate competence in the required Unit Standards and complete a summative assessment based on the exit outcomes of the Qualification. 

  • INTERNATIONAL COMPARABILITY 
    Traditionally, the training of employees in Short Term Insurance in South Africa was done in-house by the larger insurers, the Insurance Institute of South Africa and other small private providers. The introduction of the Financial Advisors and Intermediaries Act and the associated requirements for licensing have resulted in private providers in formal education offering courses towards the National Certificate in Short Term Insurance: Level 4.

    Sites researched/ organisations contacted:

    UK:
  • Qualification and Curriculum Authority (UK): The Qualification and Curriculum Authority (QCA) in the United Kingdom is responsible for standards in education and training. Their site covers the schools curriculum, accreditation and monitoring of qualifications in schools, colleges and work, as well as research and statistics. http://www.qca.org.uk
  • Financial Services Skills Council - UK: The Financial Services Skills Council is licensed by the UK government to work in partnership with employers to provide strategic and responsible leadership for training, education and development for the financial services industry in the UK. http://www.fsnto.org.uk

    Australia:
  • Australian Qualifications Authority: http://www.aqf.edu.au
  • The National Training Information Service (Australia): The Australian Government's National Training Information Service web site provides information on the qualifications, qualification structures and the Unit Standards registered on the AQF. http://www.ntis.gov.au
  • National Finance Industry Training Advisor: Through various searches and links, the SGB made contact with the project team responsible for scoping and rewriting the Financial Services Training Package. A training package is an integrated set of nationally endorsed competency standards, assessment guidelines and AQF qualifications for a specific industry, industry sector or enterprise. http://www.nfitab.com.au

    Africa:
  • Botswana Training Authority (BOTA). BOTA has registered 164 Unit Standards for three sectors (trainers and assessors (practice standards), wholesale and retail and Information and Communications Technology), but has not yet registered standards for their financial services industry. http://www.bota.org.bw
  • Insurance Institute of South Africa (IISA): is a non-profit, section 21 company engaged in the delivery of education, training and skills development to the Insurance and related sectors in South Africa- http://www.iisa.co.za/
  • The Insurance Institute of Zimbabwe -There is no web site for this institute, but the SGB was able to obtain a copy of their Certificate of Proficiency from the IISA for the comparison.
  • The Insurance Institute of Namibia (IION): delivery of education, training and skills development to the Insurance and related sectors in Namibia http://www.iion.biz/ The IION uses the courses offered by the IISA exclusively for their training and accreditation requirements.
  • The Insurance Institutes of Kenya, Malawi, Mauritius, Uganda, Egypt, Morocco, Nigeria - These Institutes do not have web sites but internet research indicates that these countries use either the Insurance Institute of South Africa or the Chartered Insurance Institute of the UK (or a combination thereof) for their Training and Education requirements. This was confirmed by Peter Atkinson of the IISA.

    Other:

    Previous comparisons for Financial Services qualifications from Levels 2 to 4 established that a comparison in a country with an emerging economy is not possible at present. This is because the web sites of the countries considered are either not presented in English or their accreditation systems are based on internal quality management systems and audits and not on alignment with national standards. The web sites considered for these comparisons are:
  • Malaysian Accrediting Body: Lenbaga Akreditasi Negara: http://www:/lan.gov.my/english/index2eng.htm (English version)
  • Mexican Accrediting Body: COPAES: http://www.copaes.org.mx
  • National Assessment and Accreditation Council (India): http://www.naac-india.com/

    Background and rationale for the choice of countries for comparison with the FETC: Short Term Insurance Qualification:

    Qualifications used for this comparison:

    The countries selected for this comparison were motivated by efficiency and information available to maximise resources and minimise time and costs, without losing quality. The SGB already had access to a document detailing the core Unit Standards of level 4 UK qualifications, as well as Financial Services learning pathways in Australia. All that remained was to download the Unit Standards and compare the outcomes to the SA outcomes for this qualification.

    This comparison is based on the following qualifications:

    United Kingdom (UK):
  • Skills Council for Financial Services National Standards: registered on NVQ. Functional groups of Unit Standards were downloaded from the Skills Council for Financial Services website. Unfortunately, neither the Financial Services Skills Council nor the Qualification and Curriculum Authority (QCA) websites make the rules of combination clear in terms of selecting the Unit Standards. The SGB has established the key skills units (fundamentals) required in the packaging of the Unit Standards. These will be discussed in this document. The functional groups included in the Financial Service Skills Council Qualification are as follows:

    > Accounting and credit control (Standards at level 2)
    > Account Services (Standards at levels 2 and 3)
    > Administration and using IT (Standards at levels 2 and 3)
    > Asset management and arrears (Standards at levels 3 and 4)
    > Call Handling (Standards at levels 2-4)
    > Customer Service (Standards at level 2-4)
    > Health and Safety (Standards at levels 2-4)
    > Insurance Claims (Standards at Levels 2 and 3)
    > Insurance Contracts and Policies (Standards at Levels 2 and 3)
    > Insurance Intermediaries (Standards at Levels 2 and 3)
    > Mortgages and lending (Standards at Levels 3 and 4)
    > Organisation and Resource Management (Standards at levels 2 and 3]
    > Pensions Administration (Standards at level 3 and 4)
    > Providing advice (Standards at level 3)
    > ReInsurance (Standards at level 3)
    > Sales and Marketing (Standards at levels 2 and 4)
    > Self Development (Standards at levels 2-4)
    > Underwriting (Standards at levels 2-3)
    > Working with others - (Standards at levels 2-4)

    Australia (AQF):
  • Certificate IV in Financial Services (General Insurance), registered on Australian Qualification Framework (AQF): Standards for this comparison were obtained from documentation sent to the SGB by Gina Hockley, project manager of the task team that rewrote the Financial Services package in Australia - ghockley@fseaa.com.au

    Industry Core Units: To gain a Certificate IV qualification, achievement of the 6 industry core units must be confirmed. If the industry core units have not been assessed as part of a Certificate III, they are assessed in a Recognition of Prior Learning process or in combination with the Certificate IV units.

    > FNBFSO1B Work within a financial services context
    > FNBFSO2A Communicate in the workplace
    > FNBFSO3B Work as part of a team
    > FNBFSO4B Use technology in the workplace
    > FNBFSO5A Apply health and safety practices in the workplace
    > FNBFSO6B Resolve customer complaints

    To attain a Certificate IV in Financial Services (General Insurance) 10 units must be achieved:

    5 core units: At least 5 units must be selected from the list below to gain the specialist Financial Services (General Insurance):

    > FNBGEN01A Participate in negotiation
    > FNBGEN04A Evaluate risk for new business
    > FNBGEN05A Underwrite new business
    > FNBGEN08A Issue contract of Insurance
    > FNBGEN12A Analyse Insurance claims
    > FNBGEN13A Accept or reject a claim
    > FNBGEN14A Settle claims
    > FNBGEN15A Investigate claims
    > FNBGEN21A Resolve Insurance disputes

    5 elective units selected from the training package at level IV - there are many units to choose from (depending on the specialist stream) and only those that have bearing to the comparison have been used for this qualification.

    Africa:

    Most African countries investigated use the Insurance Institute of South Africa (IISA) or The Chartered Insurance Institute (CII) in the UK for accreditation purposes. Since the IISA aligns their courses with the NQF and the CII theirs with the NVQ, by comparing the UK and SA Unit Standards the African countries are automatically included in the comparison as they are assessed against SA and UK NQF and NVQ standards respectively. The SGB was able to source the bridging certificate programme for Insurance Institute of Zimbabwe. It is understood that learners attend this programme before embarking on the IISA's COP or learnership programmes which are NQF aligned. However, this course is a bridging course to the IISA's level four Certificate of Proficiency and learnerships, and is therefore not relevant to the comparison (lower level entry competencies). However for completeness the topic chapters (it is not outcomes based) relating to Short Term assurance are listed below:
  • Language and terminology of Insurance
  • The concept and history of life assurance
    > Concepts of risk
    > Difference between Insurance and assurance
    > History and development of Insurance
    > Life assurance today
    > Why people buy Insurance
    > Problems with saving and investing
    > How life assurance serves the nation
  • Life assurance needs
    > Individual needs
    > Role of life assurance in financial planning
  • Insurance of the person
    > Types of life policies
  • Matching products to needs
  • Legal aspects of life assurance
  • The Insurance Market
  • Pension and Retirement Annuity Funds
  • National Security Authority (NSSA) (Workmen's compensation)
  • Responsibilities of the life Assurance intermediary)
  • Short Term Insurance
    > Marine
    > Fire
    > Accident
    > Fidelity
    > Public Liability
    > Motor Vehicle
    > Aviation
    > Basic principles
    > Classes of Short Term Insurance
  • Level Descriptors:

    UK: Competence at level 4 involves the application of knowledge in a broad range of complex, technical or professional work activities performed in a variety of contexts and with a substantial degree of personal responsibility and autonomy. Responsibility for the work of others and the allocation of resources is often present.

    AQF: Competence at level 4 involves the following:
  • Demonstrate understanding of a broad knowledge base incorporating some theoretical concepts
  • Apply solutions to a defined range of unpredictable problems
  • Identify and apply skill and knowledge areas to a wide variety of contexts with depth in some cases
  • Identify, analyse and evaluate information from a variety of sources
  • Take responsibility for own outputs in relation to specified quality standards
  • Take limited responsibility for the quantity and quality of the output of others

    Detailed comparison:

    Fundamentals:
  • Mathematical Literacy:

    NVQ: The UK's Key skill Unit "Application of Number" - Level 4 has three elements (Specific outcomes):
  • Develop a strategy for using application of number skills over an extended period of time.
  • Monitor progress and adapt your strategy, as necessary, to achieve the quality of outcomes required in work involving:
    > Deductive and inferential reasoning.
    > Algebraic modelling.
  • Evaluate your overall strategy and present the outcomes from your work, including use of charts, graphs and diagrams to illustrate complex data.

    The UK standard is similar to the SA standards in that the use of Mathematics is applied to a work or life problem. A hypothesis is stated, and maths is used to research and evaluate a work related problem. The UK standard is broader than the three SA standards as it does not state which mathematical strategy or methodology (statistics, algebra, geometry) the learner should use for the problem. It would seem that any of these methods (depending on the research problem) is acceptable whereas the SA learner will have to be competent against a range of mathematical methods.
  • Communication:

    NVQ: The Key Skills Unit "Communication" Level 4 involves:
  • Develop a strategy for using communication skills over an extended period of time.
  • Monitor progress and adapt your strategy, as necessary, to achieve the quality of outcomes required in work involving at least:
    > One group discussion about a complex subject.
    > One document of 1,000 words or more about a complex subject.
  • Evaluate your overall strategy and present the outcomes from your work, using at least one formal oral presentation. Include a variety of verbal, visual and other techniques to illustrate your points.

    There are some synergies with the contextualised communication Unit Standard - "Use the writing process to compose texts required in a business environment". The UK standard requires the additional competencies of making a business presentation.

    AQF: The Industry core unit "Communicate in the workplace" has the following common elements of competence: knowledge of industry and company policies and procedures in regard to customer service, communication, correspondence, receipt of messages and internal administration systems, basic knowledge and understanding of relevant legislation, statutory requirements or industry codes of practice, including, questioning/listening techniques, oral and written communication techniques, industry/company security practices, knowledge of types of correspondence, information and/or reports generated, basic interpersonal and communication skills and referral skills. The AQF standard has additional elements competency regarding the use of appropriate software, basic keyboard and computer skills, which are not implicitly stated in the SA standard, but are covered in the PC literacy standards.

    The Core unit "participate in negotiations" describes the skills and knowledge required to take part in negotiations either as an individual or as a member of a team. It includes effective negotiation techniques and planning and preparing for the negotiation and finalizing agreement, which is a high level communication skill that has the following Underpinning competencies: May include:
  • Research techniques such as knowledge of sources of information and Research skills, analysis and evaluation, accessing information from a range of sources, using the Internet, libraries and specialist databases- evident in SA Unit Standard: Access information to respond to client enquiries in a financial services environment.
  • Company systems and processes - Some overlaps with SA standards: Operate a computer workstation in a business environment / Use a web browser in a business environment.
  • Knowledge of policies and policy wording.
  • Communication.
  • Presentation and questioning skills.
  • The ability to analyse and organise information.
  • This unit requires the ability to read and interpret Insurance policy documents, surveys, reports, claims and related documents. Interpretation of statistical information may be needed.
  • Financial Literacy:

    The financial literacy Unit Standards in the FETC: Short Term Qualification introduces entry-level financial related competencies for learners, and ensures that individuals are able to apply the financial literacy concepts in their own lives to be financially responsible and therefore more productive and responsible employees. i.e. the industry requires financially responsible and empowered employees to work with their client's money and investments.

    NVQ: No similar Unit Standards were sourced on the NVQ in the context of Insurance Qualifications packaging. Financial literacy competencies are embedded in other Unit Standard across their qualification, but the application of these competencies does not appear to extend to learners own lives.

    AQF: For the first time the SGB has received the units (standards) that are registered on the AQF. They do not form part of industry core (similar to our fundamental standards) but have been categorised as elective standards. These standards are new units designed to enhance consumer financial literacy, although some have a personal application element.
  • "Develop and use a personal budget": addresses the basic knowledge and skills required to develop implement and monitor a personal savings budget. It covers exploring the benefits of budgeting, identifying income and expenses and ways to monitor the budget.
  • "Develop and use a savings plan" is designed to develop skills and knowledge required for developing and implementing a savings plan to achieve identified goals. It covers identifying savings goals, understanding the role of the savings plan, the risk/return relationship and how to determine appropriate savings vehicles for maximising savings.
  • "Develop understanding of debt and consumer credit" covers the skills and knowledge to promote customer awareness of basic financial literacy skills necessary for beginning to make informed financial decisions. It covers the need and purpose of bank accounts, basic savings and investment principles, risk and return, and the role of Insurance and superannuation.
  • "Develop understanding of superannuation" is designed to enhance consumer financial literacy and covers the skills and knowledge required to understand the role of superannuation and other longer term investment devices and to make effective and informed decisions about the related products. It covers the purpose of superannuation, the role and range of investment vehicles in the building of personal wealth and the active monitoring of a superannuation scheme's performance over time.
  • "Develop understanding of the Australian financial system and markets" provides a basic overview and introduction to the financial systems and markets operating in Australia. It covers identifying the main participants in financial markets, the role of the central bank, the impact of its decisions on business and consumers, key factors that influence the Australian economy and the role of financial regulators.
  • "Assist customers to budget and manage own finances" covers the competences required to assist customers develop basic budgeting skills as a means to managing day-to-day living expenses and working towards identified financial goals and priorities.
  • "Facilitate customer awareness of the Australian financial system and markets" covers the skills and knowledge to develop client awareness of how the monetary and financial systems and markets operate in Australia, with the aim of enhancing basic consumer financial literacy.
  • "Promote basic financial literacy skills" covers the skills and knowledge to promote customer awareness of basic financial literacy skills necessary for beginning to make informed financial decisions. It covers the need and purpose of bank accounts, basic savings and investment principles, risk and return, and the role of Insurance and superannuation.
  • "Facilitate customer understanding of personal financial statements" covers the skills and knowledge to educate customers in understanding and interpreting information contained in personal financial statements. It covers a range of statements including bank and credit card statements.
  • "Facilitate customer or employee understanding of superannuation as an investment tool" covers the skills and knowledge to educate about the role of superannuation as a long term investment device to assist with their preparation for retirement. It covers the purpose of superannuation, the statutory requirements for employer contributions, the role of a range of investment vehicles in the building of a superannuation portfolio and the monitoring of a superannuation scheme's performance over time.

    The above units have a SA equivalent in terms of competencies across the qualification or within the Level 3 qualifications. However, the SA qualification has no obvious emphasis on consumer education, as this is not an industry requirement for Insurance workers - whilst competent SA learners may have the knowledge of financial concepts they may not have the counselling, persuasion or coaching skills required to do so. It is also relevant to note that previous comparisons with the Australian qualifications have indicated that Financial Literacy concepts are embedded in the core units but do not extend to application in the learners own lives. This is no longer the case at these new standards assist learners to manage finances in their own lives as well as educate clients on relevant financial concepts.
  • Conclusion (Fundamentals):

    There are four other key skills units registered at level 4 on the NVQ (see below) that do not have SA fundamental counterparts but are covered by SA's critical cross-field outcomes either across the qualification or by the core and elective Unit Standards in this qualification:
  • Information and Communication Technology - Level 4
  • Improving own learning and Performance - :Level 4
  • Problem Solving - Level 4
  • Working with Others - Level 4

    All the key skills units follow generic formulae: Develop a strategy using the specific competencies, monitor progress, evaluate and present objectives using new skills acquired.

    The industry core standards registered on the AQF at certificate 4 level are fundamental and must be demonstrated at diploma or advanced diploma level.
  • Apply principles of professional practice to work in the financial services industry
    > AQF: Deliver a professional service to customers: Knowledge requirements include the finance industry, customer relations, customer service, organisational product and service knowledge, complaint documentation requirements, relevant industry legislation.

    Skills requirements include: basic communication skills such as basic questioning, listening, speaking and writing skills and the ability to interpret and demonstrate appropriate non-verbal skills, basic interpersonal/relationship building skills, sales techniques, time management skills, recording skills, problem solving skills, organisational skills such as prioritising, appropriate documentation, and maintaining records.
  • Communicate in the workplace.
  • Use technology in the workplace.
  • Apply health and safety practices in the workplace.

    Core component:
  • Demonstrate knowledge of insurable risk.
    > NVQ & AQF: Whilst there are no isolated Unit Standards that cover the concept of risk there are various Unit Standards across the groupings that have insurable risk as embedded knowledge.
  • Apply the law of contract to Insurance.
    > NVQ: Process New Business as an Intermediary (L3). The following outcome on this standard indicates an understanding on the law of contract: "finalise contracts for Insurance products and services" - (and related performance criteria) "at all times comply with the relevant regulatory code". However, the depth and breadth is not as in-depth as the SA standard.
    > AQF: There is no specific standard relating to the law of contract however, the embedded knowledge in various units require extensive legislative knowledge and the application of compliance.
  • Demonstrate knowledge and application of ethical conduct in a business environment. (Also Core in RI)
    > NVQ: Regulations and ethics: In this Unit Standard the synergies are with regard to demonstrating a knowledge of: The main aims and activities of the Financial Services Authority (FSA) and its approach to ethical conduct (compliance) by firms and individuals and how other non tax laws and regulations are relevant to firms and to the process of advising clients (Client relations and Policy Holder Protection).
    > AQF: Deliver a professional service to customers: The following competencies imply ethical conduct in the workplace although there is not a direct correlation with the SA standard: Knowledge requirements include the finance industry, customer relations, customer service, organisational product and service knowledge, complaint documentation requirements, relevant industry legislation. Skills requirements include: basic communication skills such as basic questioning, listening, speaking and writing skills and the ability to interpret and demonstrate appropriate non-verbal skills, basic interpersonal/relationship building skills, sales techniques, time management skills, recording skills, problem solving skills, organisational skills such as prioritising, appropriate documentation, and maintaining records.
  • Apply the skills of customer care in a specific work environment.
    > NVQ: Within the Customer Service functional group the following standards have various overlapping outcomes with the SA standard: Maintain and Improve Customer Service Delivery (L3), Develop Customer Relationships and Business Networks (L3), Develop Productive Relationships With Callers (L3), Establish and Maintain Productive Business Relationships (L4), Develop and Maintain Positive Working Relationships With Customers (L3) Notes: Analysis of personality styles is unique to the SA standard, although the UK standards do look at the wants and needs of the client and balancing these with the organisational needs. The customer care group is wide on the NVQ and there are therefore a number of outcomes that are not addressed in the SA Unit Standard. For the purpose of this comparison, only the Level 4 outcomes that are not implicit in the SA standard are mentioned:
    > (US) Address problems and complaints on behalf of customers:
    > (SO) Deal with problems and queries on behalf of customers
    > (SO) Deal with complaints
    > (US) Manage and enhance customer service delivery:
    > (SO) Monitor and manage customer service delivery
    > (SO) Initiate changes to improve customer service delivery
    > (US) Establish and maintain productive business relationships:
    > (SO) Identify potential customers, influencers and decision makers
    > (SO) Develop and enhance positive working relationships with customers (This is met in the SA Standard)
    > (SO) Develop and maintain a network of key contacts
    > AQF: The following standards have synergies with the SA standard: Provide customer service in a retail agency (L3) Respond to customer enquiries (L4). Again, analysis of personality styles is unique to the SA standard.
  • Manage own work performance in relation to an organisation's performance management system.
    > NVQ: Contribute to the development of own performance (L2), Manage yourself (L2), Develop your own resources (L4), Maintain own professional development (Level Unspecified) in the Self Development functional grouping all have elements of setting work performance standards, identifying areas for development and improving work performance.
  • Describe how to manage workplace relationships.
    > NVQ: Maintain business relationships (L3), Develop and maintain business relations with introducers (L4), Establish And Maintain Productive Business Relationships (L4), Develop productive working relationships (L4), Develop positive working relationships with customers and colleagues (L3), Develop and maintain positive working relationships with other members of staff (L3), Develop and maintain positive working relationships with customers (L3), Develop and maintain positive working relationships (L4) and Create effective working relationships (L3) have similar outcomes across the standards.
  • Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law.
    > AQF: The compliance groupings of standards have various standards relating to implementing procedures for non-compliance with knowledge of the results of non-compliance embedded. Apply principles of professional practice to work in the financial services industry and Comply with financial services legislation, industry and professional codes of practice have elements competency relating to ethical codes of behaviour included in the performance criteria.
  • Indicate how different needs lead to the development of different financial services products.
    > AQF: Match financial products to customer needs: This unit covers the processes used to match the financial products on offer to the customer's requirements. It is based on an in-depth knowledge of the financial products and comprehensive knowledge of customers' characteristics and their financial requirements.
  • Use an electronic system as a tool in a financial services context.
    > Use technology in the workplace: There are various overlaps although the intentions are not identical.

    No equivalents were found for on the international qualifications researched for:
  • Analyse new developments reported in the media that could impact on Short Term Insurance.
  • Manage risk in own work environment.
  • *Demonstrate knowledge and understanding of personal motor Insurance.
  • *Apply technical knowledge and understanding of the cover provided under a Short Term Multi-Peril Insurance policy.

    *Note: Although no specific standards were found on the NVQ and AQF the embedded competencies in the standards that were found inferred competencies in product knowledge and understanding of the Short Term claims industry.

    General short term:
  • Demonstrate techniques for gathering and presenting fieldwork data.
    > NVQ: Prepare Policy Documentation, Carry out initial assessment and investigate claims and Resolve Claims are task based standards that are not as specific as the SA standard but have some of the administrative synergies.
  • Apply knowledge of Short Term Insurance to reinsurance.
    > NVQ: Make arrangements for reinsurance and contribute to reinsurance arrangements.

    No equivalents were found in the international qualifications researched for:
  • Demonstrate knowledge and understanding of the scope of travel Insurance in South Africa.
  • Explain fiduciary responsibilities and the associated risks.
  • Analyse the impact of weather events on a selected region.
  • Explain the implications of climate change for an economic sector.
  • Explain trade in a global economy.
  • Describe the standard Insurance cover in terms of SASRIA.
  • Demonstrate knowledge and understanding of the standard Insurance cover in terms of NASRIA.
  • Explain Insurance transactions specific to Lloyd's of London.

    * Note: Although no specific standards were found on the NVQ and AQF the embedded competencies in the standards that were found inferred competencies in product knowledge and understanding of the Short Term claims industry.

    Personal lines:

    No correlating standards were found for these, but the task/occupational based standards and standards on the NQF infer an underpinning knowledge of these concepts. The Australian standards also refer to many of the underpinning competencies included in these standards being included in the standards that make up their curriculum:
  • Apply knowledge of personal all risks Insurance.
  • Demonstrate knowledge and understanding of house owners Insurance.
  • Apply knowledge of Insurance of personal household contents.
  • Demonstrate knowledge and understanding of Insurance of personal household contents and household buildings.
  • Demonstrate knowledge and understanding of the Insurance of pleasure craft.
  • Apply knowledge of personal accident Insurance.
  • Apply knowledge of personal liability Insurance.

    Commercial lines:

    No correlating standards were found for these but the task/occupational based standards and standards on the NQF would infer an underpinning knowledge of these concepts. The Australian standards also refer to many of the underpinning competencies included in these standards being included in the standards that make up their curriculum:
  • Demonstrate knowledge and understanding of business motor Insurance.
  • Apply knowledge of Short Term Insurance to the All Risks section of a commercial policy.
  • Apply technical knowledge and understanding of business Insurance.
  • Apply knowledge of business interruption Insurance.
  • Apply knowledge of public liability Insurance.
  • Apply technical knowledge and understanding of Insurance in the event of machinery breakdown.
  • Demonstrate knowledge and application of Sectional Title Insurance.
  • Demonstrate knowledge and understanding of warranty as a class of Insurance.
  • Apply technical knowledge and understanding of Contract Works Insurance.
  • Explain engineering Insurance.
  • Apply technical knowledge and understanding of fidelity Insurance as a means of managing people related financial risk.
  • Analyse the scope of transportation Insurance.
  • Demonstrate knowledge and understanding of transportation Insurance.
  • Apply knowledge of Insurance to the transportation of a consignment of goods.
  • Explain aviation Insurance.
  • Manage the risk in an agricultural entity.
  • Apply knowledge of agricultural crop Insurance.
  • Apply technical knowledge and understanding of the Insurance of wild life, livestock and other animals.
  • Apply technical knowledge and understanding of the Insurance of timber plantations.

    Short term risk (underwriting and claims):
  • Underwrite a standard risk in Short Term personal Insurance/Underwrite a standard risk in Short Term commercial Insurance / Apply technical knowledge and skill in order to underwrite professional indemnity Insurance / Apply technical knowledge and skill to assess an aviation risk.
    > NVQ: Evaluate New Risks On Behalf of The Insurer/assess and underwrite alterations / assess and underwrite renewals and Resolve claim applications for uninsured elements.
    > AQF: Core Unit: Evaluate risk for new business: This unit describes the competencies used in evaluating risk for new business including gathering the risk information, and reviewing and assessing it against appropriate risk criteria.
    > AQF Core Unit: Underwrite new business: This unit describes the competencies used in underwriting new business including determining the terms and conditions of risk acceptance, evaluating the response of the customer, negotiating and finalising the cover.
    > AQF Core Unit: Issue contract of Insurance This unit describes the competencies used in gathering the necessary information and issuing a new policy/contract of Insurance in response to requests for quotes, new policies, or interim cover (cover note) in standard situations. It also covers canceling a policy at the customer's request.
  • Process a Short Term Insurance claim / Demonstrate knowledge and skill in order to assess a non-motor claim. Registered title : Demonstrate knowledge and skill in order to assess a fire or accident claim/Apply basic technical knowledge of a vehicle to authorise a light motor vehicle claim/Apply basic technical knowledge of a vehicle to authorise a heavy motor vehicle claim
    > NVQ: Resolve claim applications for insured elements.
    > AQF: there are various core units that correlate: (Due to the task based nature of the Australian standards there are more standards than those proposed in the SA qualification, as the SA units cover just the competencies and outcomes).
    > "Participate in negotiations" describes the skills and knowledge required to take part in negotiations either as an individual or as a member of a team. It includes effective negotiation techniques and planning and preparing for the negotiation and finalizing agreement. In the context of it being placed in the AQF qualification the inferences is that learners are able to negotiate claim settlements and benefits.
    > Analyse Insurance claims: This unit describes the competencies needed when analysing Insurance claims including researching and validating the claim information and maintaining records and lines of the communication.
    > Accept or reject a claim This unit describes the competencies needed to decide whether to accept or reject a claim by reviewing the data against company policy and procedures.
    > Settle claims This unit describes the competencies needed to settle claims including the negotiation of terms, recording of detail, finalisation of payments and filing of documents.
    > Investigate claims: This unit covers the competencies needed to investigate a claim. The investigation may cover the degree of liability or a potential fraud. The unit includes competencies for clarifying the brief, conducting the investigation and reporting. The function may be conducted within a company or it may be outsourced. Note: Investigation methods may include: phone calls, observation, interviews, review of documents mechanical or chemical analysis and other relevant information gathering activities.
    > Resolve Insurance disputes This unit describes the competencies involved in resolving disputes lodged by customers who may have a dispute with the insurer or external service provider. The skills will be applied as part of a formal internal dispute resolution (IDR) process.

    Sales and client care:
  • Communicate verbally with clients in a financial services environment.
    > NVQ: Advise customers as an Insurance intermediary (L3); Ensure the quality of call handling services (L4); Contribute to developing and maintaining positive caller relationships (L3) Supervising Call Handling (L3), Call Handling Operations (L2); Solve problems for telephone callers (L3), Supervising Call Handling (L3), Develop and maintain supportive relationships with telephone callers (L3).
    > AQF: Liaise with clients, other professionals and third parties (L3).
  • Access information to respond to client enquiries in a financial services environment.
    > NVQ: Enter and retrieve information using a computer system (L2).
    > AQF: Collect, assess and use information (L4) - Industry core unit.
  • Demonstrate knowledge and understanding of financial interactions of insurers and intermediaries in Short Term Insurance / Demonstrate skills and techniques required to build a relationship with a client in a financial services environment / Demonstrate knowledge and understanding of the sales process in Short Term Insurance/ Apply the regulations for disclosure that are required as part of the financial sales process.
    > NVQ: Sell products and services over the telephone, Service new business as an intermediary.
    > AQF: Sell financial products and services (L4), Implement a sales plan (L4).
  • Manage a business offering financial advice.
    > AQF: Although not specific to management of an intermediary function, the units at L4: "Contribute to resource planning" and "Work with specialist and outsourced functions" have overlapping competencies, Establish or review human resources (L4) administration and information support (L4).
  • Explore strategies to retain or expand existing business in the Insurance/investment industry.
    > NVQ: Identify sales leads for follow up calls (L4), Sell financial products and services (L2-4), Contribute to financial services sales action plans (L4), Provide feedback on financial products and services (L4
    > AQF: Coordinate, evaluate and improve customer service, (L4) Maintain customer database (L4), Maintain customer relationship (L4), Co-ordinate, evaluate and improve customer service (L4) and Implement a service support system (L4) Establish or review marketing, client services and supplier relationships (L4).
  • Determine risk exposure in order to manage the risk in a specific situation.
    > NVQ: Sell financial products and services (L2-4), Promote the organisations products and services (L3).
    > AQF: Establish client relationship and analyse needs (L4) and Develop, present and negotiate client solutions (L4).
  • Demonstrate skills and techniques required to build a relationship with a client in a financial services environment.
    > NVQ: Sell products and services over the telephone (L2, 3).
    > AQF: Prospect for new clients (L4) and although the intentions are different there are overlapping competencies in Apply principles of professional practice to work.

    General industry:

    No explicit standards were found on the NVQ or AQF for the following standards although the underlying competencies contained in them are embedded across both the UK and Australian qualifications to a greater or lesser extent.
  • Analyse the Financial Services Industry and the role of Insurance in a business environment.
  • Demonstrate knowledge and understanding of the role, functions and duties of trustees of medical schemes.
  • Demonstrate ability to use and interpret texts that apply to the role and responsibilities of trustees of retirement funds.
  • Apply knowledge of basic accounting principles to financial services

    Legislation:

    As regulation is specific to a country the SGB has not compared standard for standard but identified that all qualifications do in fact put value on acquisition of competencies relating to the legal environment:
  • AQF: The Compliance standards: "Conduct individual work within a compliance framework", "Facilitate compliance with statutory, legislative and regulatory requirements via staff education and Apply principles of professional practice to work in the financial services industry has correlations with competencies included in the SA legislation standards as the above Australian standard requires the competent learner to operate within company guidelines and comply with relevant legislation and codes of practice. Unlike the SA standards, there are not separate standards for each Act, but these standards measure the learner's ability to comply with the statutory requirements in the Australian system. The underpinning competencies include relevant statutory, legislative and regulatory requirements, relevant codes of practice, organisational policy and procedures, comprehensive knowledge of individual work requirements and practices, ethics, documentation skills, written and oral communication skills. In addition to knowledge of regulation and compliance, thereof there are numerous standards available on the AQF relating to developing compliance standards, training staff about compliance issues, implementing compliance measures and implementing codes relating to breach of compliance measures. Some of these units include but are not limited to; Facilitate compliance with statutory, legislative and regulatory requirements via staff education, Develop and implement compliance systems, Implement processes for the management of breaches in compliance requirements.

    Motor assessors:
  • Apply technical knowledge and skill to determine the quantum and validity of a light motor vehicle claim.
  • Apply technical knowledge and skill to determine the quantum and validity of an industrial or heavy vehicle claim.
  • Produce photographic evidence of a collision.
    > AQF: Australian claims standards are very generic. The following core standards relate to claims but do not specify motor claims or the type: - Heavy or light. They do refer to evidence of the claims in their performance criteria and range statements:
    > Analyse Insurance claims: This unit describes the competencies needed when analysing Insurance claims including researching and validating the claim information and maintaining records and lines of the communication.
    > Accept or reject a claim: This unit describes the competencies needed to decide whether to accept or reject a claim by reviewing the data against company policy and procedures.
    > Settle claims: This unit describes the competencies needed to settle claims including the negotiation of terms, recording of detail, finalisation of payments and filing of documents.
    > Investigate claims: This unit covers the competencies needed to investigate a claim. The investigation may cover the degree of liability or a potential fraud. The unit includes competencies for clarifying the brief, conducting the investigation and reporting. The function may be conducted within a company or it may be outsourced. Note: Investigation methods may include: phone calls, observation, interviews, review of documents mechanical or chemical analysis and other relevant information gathering activities.
    > AQF The following Unit Standards; have synergies with the above SA Unit Standards in various competencies Plan and implement loss investigation / Evaluate collected information /Report findings and provide guidance to involved parties /Negotiate /effect settlement. The Australian standards are generic assessment standards and include the following competencies as detailed below: Knowledge of:
    > Knowledge of the Insurance industry.
    > Contract and commercial law principles.
    > Insurance law.
    > Relevant legislation and industry codes of practice.
    > Types/categories of Insurance policies.
    > Policy coverage/requirements.
    > Loss adjusting principles and practice.
    > Investigative practices and guidelines.
    > Fraud detection, control and prevention principles.
    > Rules of evidence and information gathering/documenting principles.
    > Roles/responsibilities/jurisdiction of specialists and other authorities.
    > Claims management.
    > Principles of cost estimating.
    > Subrogation.
    > Insurable interest.
    > Contribution.
    > Data analysis techniques/procedures.
    > Business mathematics and statistics.
    > Principles of cost estimating.
    > Salvage methods.
    > Recovery.
    >Skills requirements include:
    > Analytical, evaluative and deductive reasoning.
    > Investigative, analytical, evaluative and deductive reasoning.
    > Problem solving.
    > Negotiation and interviewing.
    > Calculation and estimating.
    > Data analysis techniques/procedures.
    > Documentation and record keeping.
    > Communication and listening skills.
    > Record keeping.
    >This unit describes the function of assessing and analysing evidence and data relating to a loss situation, and determining the extent of loss, damage or injury.

    Personal development:
  • Manage time effectively to enhance productivity and enable a balanced lifestyle.
    > NVQ: Manage personal work priorities and professional development (L2).
  • Apply problem solving techniques to make a decision or solve a problem in a real life context.
    > NVQ One of the key skills on the NVQ is Problem Solving and would thus be covered - refer section covering fundamentals.
  • Manage personal expenditure.
    > AQF Financial literacy standard: "Develop and use a personal budget": addresses the basic knowledge and skills required to develop implement and monitor a personal savings budget. It covers exploring the benefits of budgeting, identifying income and expenses and ways to monitor the budget.
  • Investigate the possibilities of establishing and running a small business enterprise (SMME).
    > AQF: Manage and maintain small/medium business: This unit requires the application of management, communication and problem solving skills to operate a micro to small business or department. It may be applied to the financial services industry operations.
  • Develop a business plan for a small business.
    > AQF: Although the standard is for an already established business "Grow the practice", has the following overlapping competencies: Knowledge of marketing principles, ability to acquire and interpret relevant data, Skills to: analyse and manipulate data, communicate, negotiate, problem solve, and plan.
  • Manage Risk in own work/business environment.
    > AQF: Establish, supervise and monitor practice systems to conform with legislation and regulations (L4), Undertake risk identification (L4), Assess risks (L4), Develop and implement risk mitigation plan (L4), Determine and manage risk exposure strategies (L4).
    > AQF: Liaise with and support trustees - AQF- (L3).
  • Investigate the need to provide financially for own retirement.
    > AQF: The financial literacy standards discussed in section one provide competencies to invest for retirement: "Develop and use a savings plan", "Develop understanding of superannuation", "Promote basic financial literacy skills".
  • Use the writing process to compose texts required in a business environment.
    > NVQ: The Key Skills Unit "Communication" Level 4 involves - refer section on Communication to identify synergies.
  • Apply comprehension skills to engage oral texts in a business environment / apply comprehension skills to interact with written texts in a business environment.
    > NVQ Keys skills unit covers generic communication skills that overlap with the SA standard.

    The SGB could not source any stand-alone standards that matched the following:
  • Research costs associated with marriage, birth, divorce and death in own circumstances.
  • Explain how to manage diversity in the workplace.
  • Apply knowledge of self and own situation to manage the risks resulting from change in the workplace.
  • Explain the impact of personal wellness on work performance.
  • Induct a new member into a team.
  • Manage risk in own life.
  • Apply the principles of situational leadership to a business unit.
  • Apply Return on Investment (ROI) theory and practice to a business unit.
  • Mentor a colleague to enhance the individual's knowledge, skills, values and attitudes in a selected career path.
  • Explain how to manage diversity in the workplace.
  • Identify causes of stress and techniques to manage it in the workplace.
  • Apply knowledge of HIV/AIDS to a specific business sector and a workplace.

    NVQ Titles that have no SA counterparts: (However since the UK titles are task related the competencies included in these are covered through a variety of SA standards):
  • Service Renewals - Basic underwriting principles.
  • Service Mid Term Amendments - Basic underwriting and administration principles.
  • Advise Other Intermediaries.

    Computer literacy:
  • NVQ: The Key skills include information technology. There are further optional units (depending on the learning pathway) that test competence of various computer knowledge and skills. There are equivalent NVQ standards for all the South African Standards in the National Certificate in Financial Services: Level 3.
  • NVQ: Data processing: (L3), Process sales support (L3), Enter and retrieve information using a computer system (L2).
  • AQF: Use technology in the workplace.
  • AQF: The industry core unit: Use technology in the workplace as well as the computer literacy as an embedded competency in the units across the qualification indicates the importance of computer literacy in the AQF. Definite synergies were also found for.

    Management:

    Whilst there are NVQ and AQF standards that match the following Unit Standards, they are not included in the packaging of the qualifications researched. However, to some extent, several of the management competencies are met across the NVQ and AQF qualifications:
  • NVQ: Lead the work of teams and individuals to achieve their objectives (L3), Develop teams and individuals to enhance performance (L4), Manage the use of financial resources, Manage the performance of teams and individuals (L4) , Select personnel for activities (L4), Contribute to the development of teams and individuals (L4) , Coordinate the work activities of others for the achievement of organisational objectives (level unspecified) , Contribute to influencing change within the organisation (L4), Manage the use of physical resources (L4), Maintain activities to meet quality standards (L4).
  • AQF: The Organisational Skills Functional group includes standards: Contribute to resource planning with embedded competencies of Knowledge requirements include: company policy and procedure, job specifications, work objectives, and responsibilities, relevant guidelines and legislation, observation skills, analysis of data, trend identification, reporting skills, written communication skills, and Work with Specialist and outsourced services which includes the following competencies: features, compliance and reporting requirements of the relevant legislation, timeframe requirements for compliance reports for specialist services, relationship between specialist roles and organisational requirements, general knowledge of the roles of relevant specialists, organisational procedures for ensuring PS146 compliance or relevant legislation, organisational procedures for working with specialist services, communication and documentation requirements of specialists, communication, documentation, ability to assess validity and usefulness of information, teamwork, ability to effectively manage change and integrate new information and procedures.

    Conclusion:

    It is encouraging to note the synergies in terms of the competencies of three qualifications if learners select a Short Term qualification on the international routes (i.e. the international qualifications are not limited to Short Term Insurance outcomes).

    The differences lie primarily in:
  • Product knowledge (personal lines, commercial lines and general Short Term) standards are not as common in the UK and Australian "basket" but are embedded as competencies in the task based Unit Standards that comprise their qualifications.
  • The core and key skills of the UK and Australian qualifications provides skills that are essential in the financial services industry such as communication, team work, using IT, etc and the electives branch to areas of specialistation. In the UK and Australia, the qualifications can lead to competencies including but not limited to banking, Short Term, long term, trustee, pensions, sales and marketing, etc. They do not include competencies in the Health Care Benefits or funeral funds fields.
  • There appear to be more personal development and management standards available as electives in the South African basket although Australia seems to be increasing their selection compared to previous comparison done in this industry.
  • Both the NVQ and AQF standards focus on steps in the processes in an Insurance environment such as Pay a claim, and Process a new business proposal. The competency-based nature of the SA Unit Standards makes them more sustainable, as processes can become outdated.
  • There are more electives to choose from the personal development and management basket for South African learners. i.e. the focus in not limited to work based competencies, but to increasing competency of the learner as a whole person. In Australia the core (elective) route is not as structured as the SA qualification and there are more routes to select from there.

    Since most African countries either use the UK or SA institutes for examination or accreditation purposes it is reassuring to know that once the proposed Unit Standards are registered and the IISA has aligned their courses accordingly, the African Insurance institutes that use the IISA for accreditation purposes will develop relevant competencies amongst their learners there will be synergies between competent learners in South Africa and the rest of Africa.

    Overall, the learners exiting any of the three qualifications compared will have similar core competencies at similar levels to the learner exiting with this South African Qualification (If the Short Term electives are selected). However, the specialisation of the different UK and Australian fields of learning make the certificates more rigid and there may be a few gaps in terms of specialised knowledge. 

  • ARTICULATION OPTIONS 
    The Qualification articulates horizontally with:
  • Any FETC on the basis of the Fundamentals.
  • The National Certificate in Long-term Insurance: Level 4.
  • The National Certificate in Short Term Insurance: Level 4.
  • The National Certificate in Risk Management: Level 4.
  • The National Certificate in Financial Services Management: Level 4.
  • The National Certificate in Management: Level 4.
  • The National Certificate in Financial Services: Wealth Management: Level 4.
  • FETC: Long-Term Insurance.
  • FETC: Retail Insurance.
  • FETC: Medical Claims Assessing.

    It articulates vertically with:
  • Financial Services Qualifications at Level 5 in that Fundamental Competencies gained in Communication and Mathematical Literacy in this Qualification should enable the learner to proceed with applicable industry Qualifications at NQF Level 5.
  • Management Qualifications at Level 5 depending on the admission requirements of specific Higher Education Institutions. 

  • MODERATION OPTIONS 
    This Qualification will be internally assessed and externally moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
  • Moderators, competent at the level of the Qualification, are registered by a relevant accredited ETQA to ensure that the standard across assessors is consistent.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Moderators are required to report to a relevant accredited ETQA.
  • A relevant accredited ETQA will monitor and quality assure moderation and assessment according to guidelines in the Qualification. 

  • CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    This Qualification will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
  • Assessors must be registered as assessors with a relevant accredited ETQA.
  • Moderators, competent at the level of the Qualification are registered by a relevant accredited ETQA to ensure that the standard across assessors is consistent.
  • Providers of the FETC: Short Term Insurance must be accredited as providers with a relevant accredited ETQA.
  • Assessors should be in possession of a relevant Insurance Qualification at NQF level 5.
  • Or higher. 

  • NOTES 
    As per the SAQA decision, after consultation with the Quality Councils, to re-register all qualifications and part qualifications on the National Qualifications Framework that meet the criteria for re-registration, this qualification has been re-registered from 1 July 2012.
    This qualification replaces qualification 21796, "National Certificate: Short Term Insurance", Level 4, 120 credits.

    Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002). 

    UNIT STANDARDS: 
      ID UNIT STANDARD TITLE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
    Core  114943  Describe how to manage workplace relationships  Level 3  NQF Level 03 
    Core  114985  Indicate how different needs lead to the development of different Financial Service products  Level 3  NQF Level 03 
    Core  117133  Manage own work performance in relation to an organisation's performance management system  Level 3  NQF Level 03 
    Core  113911  Use an electronic system as a tool in a financial services context  Level 3  NQF Level 03 
    Core  120019  Analyse new developments reported in the media that could impact on Short Term insurance  Level 4  NQF Level 04  10 
    Core  120121  Apply technical knowledge and understanding of the cover provided under a Short Term Multi-Peril Insurance policy  Level 4  NQF Level 04 
    Core  120128  Apply the law of contract to insurance  Level 4  NQF Level 04 
    Core  119676  Apply the skills of customer care in a specific work environment  Level 4  NQF Level 04 
    Core  13940  Demonstrate knowledge and application of ethical conduct in a business environment  Level 4  NQF Level 04 
    Core  120127  Demonstrate knowledge and understanding of issues of compliance or non-activity that could result in civil or criminal liability in terms of business law  Level 4  NQF Level 04 
    Core  120005  Demonstrate knowledge and understanding of personal motor insurance  Level 4  NQF Level 04 
    Core  120124  Demonstrate knowledge of insurable risk  Level 4  NQF Level 04 
    Core  117117  Describe standard insurance cover in terms of SASRIA  Level 4  NQF Level 04 
    Core  119265  Manage risk in own work environment  Level 4  NQF Level 04 
    Fundamental  8968  Accommodate audience and context needs in oral communication  Level 3  NQF Level 03 
    Fundamental  8969  Interpret and use information from texts  Level 3  NQF Level 03 
    Fundamental  8973  Use language and communication in occupational learning programmes  Level 3  NQF Level 03 
    Fundamental  8970  Write texts for a range of communicative contexts  Level 3  NQF Level 03 
    Fundamental  9015  Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems  Level 4  NQF Level 04 
    Fundamental  117127  Describe and apply the basic principles of personal income tax  Level 4  NQF Level 04 
    Fundamental  8974  Engage in sustained oral communication and evaluate spoken texts  Level 4  NQF Level 04 
    Fundamental  117156  Interpret basic financial statements  Level 4  NQF Level 04 
    Fundamental  117158  Investigate ways of managing financial risk in own lives  Level 4  NQF Level 04 
    Fundamental  8975  Read analyse and respond to a variety of texts  Level 4  NQF Level 04 
    Fundamental  9016  Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts  Level 4  NQF Level 04 
    Fundamental  8979  Use language and communication in occupational learning programmes  Level 4  NQF Level 04 
    Fundamental  7468  Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues  Level 4  NQF Level 04 
    Fundamental  8976  Write for a wide range of contexts  Level 4  NQF Level 04 
    Elective  9302  Access information in order to respond to client enquiries in a financial services environment  Level 3  NQF Level 03 
    Elective  117111  Apply knowledge of basic accounting principles to financial services  Level 3  NQF Level 03 
    Elective  114941  Apply knowledge of HIV/AIDS to a specific business sector and a workplace  Level 3  NQF Level 03 
    Elective  116966  Apply knowledge of self and own situation to manage risks resulting from change in the workplace  Level 3  NQF Level 03 
    Elective  13912  Apply knowledge of self and team in order to develop a plan to enhance team performance  Level 3  NQF Level 03 
    Elective  114952  Apply problem-solving techniques to make a decision or solve a problem in a real life context  Level 3  NQF Level 03 
    Elective  113909  Coach a team member in order to enhance individual performance in work environment  Level 3  NQF Level 03 
    Elective  9303  Communicate verbally with clients in a financial environment  Level 3  NQF Level 03 
    Elective  12548  Demonstrate ability to use and interpret texts that apply to the role and responsibilities of trustees of Retirement Funds  Level 3  NQF Level 03 
    Elective  12550  Demonstrate knowledge and understanding of the role functions and responsibilities of Trustees of Medical Schemes  Level 3  NQF Level 03 
    Elective  12547  Demonstrate knowledge and understanding of the role, functions and duties of trustees of Retirement Funds  Level 3  NQF Level 03 
    Elective  119894  Demonstrate techniques for gathering and presenting fieldwork data  Level 3  NQF Level 03 
    Elective  117130  Explain aviation insurance  Level 3  NQF Level 03 
    Elective  114932  Explain how to manage diversity in the workplace  Level 3  NQF Level 03 
    Elective  117135  Explain insurance transactions specific to Lloyd's of London  Level 3  NQF Level 03 
    Elective  113907  Explain the impact of personal wellness on work performance  Level 3  NQF Level 03 
    Elective  114966  Explain the types of compulsory statutory insurance in South Africa  Level 3  NQF Level 03 
    Elective  114946  Identify causes of stress and techniques to manage it in the workplace  Level 3  NQF Level 03 
    Elective  114960  Investigate the need to provide financially for own retirement  Level 3  NQF Level 03 
    Elective  117128  Investigate the upside and downside business risk in hand held electronic devices.  Level 3  NQF Level 03 
    Elective  114984  Manage electronic mail in a business environment  Level 3  NQF Level 03 
    Elective  119915  Manage personal expenditure  Level 3  NQF Level 03 
    Elective  114970  Manage risk in own life  Level 3  NQF Level 03 
    Elective  117171  Manage time effectively to enhance productivity and enable a balanced lifestyle  Level 3  NQF Level 03 
    Elective  114979  Operate a computer workstation in a business environment  Level 3  NQF Level 03 
    Elective  119681  Research costs associated with marriage, birth, divorce and death in own circumstances  Level 3  NQF Level 03 
    Elective  114980  Use a presentation package to produce business documents  Level 3  NQF Level 03 
    Elective  114977  Use a spreadsheet package to produce and manage business documents  Level 3  NQF Level 03 
    Elective  114975  Use a web browser in a business environment  Level 3  NQF Level 03 
    Elective  114978  Use a word processing package to produce business documents  Level 3  NQF Level 03 
    Elective  119904  Analyse the impact of weather events on selected regions  Level 4  NQF Level 04 
    Elective  120130  Apply basic technical knowledge of a light motor vehicle to authorise a claim  Level 4  NQF Level 04 
    Elective  120126  Apply basic technical knowledge of a vehicle to authorise a heavy motor vehicle claim  Level 4  NQF Level 04 
    Elective  12154  Apply comprehension skills to engage oral texts in a business environment  Level 4  NQF Level 04 
    Elective  12155  Apply comprehension skills to engage written texts in a business environment  Level 4  NQF Level 04 
    Elective  117121  Apply knowledge and insight into the Short Term Insurance Act (No 53 of 1998) and the accompanying regulations  Level 4  NQF Level 04 
    Elective  117149  Apply knowledge and insight into the statutory cover afforded under the Compensation for Occupational Injuries and Diseases Act, 130 of 1993, as amended (COIDA)  Level 4  NQF Level 04 
    Elective  120022  Apply knowledge and understanding of personal accident insurance  Level 4  NQF Level 04 
    Elective  120016  Apply knowledge insurance of household contents  Level 4  NQF Level 04 
    Elective  120109  Apply knowledge of agricultural crop insurance  Level 4  NQF Level 04 
    Elective  120120  Apply knowledge of business interruption insurance  Level 4  NQF Level 04 
    Elective  120020  Apply knowledge of insurance to the transportation of a consignment of goods  Level 4  NQF Level 04 
    Elective  120011  Apply knowledge of personal all risks insurance  Level 4  NQF Level 04 
    Elective  120132  Apply knowledge of personal liability insurance  Level 4  NQF Level 04 
    Elective  120125  Apply knowledge of public liability insurance  Level 4  NQF Level 04 
    Elective  120136  Apply knowledge of Short Term Insurance to reinsurance  Level 4  NQF Level 04 
    Elective  120122  Apply knowledge of Short Term Insurance to the All Risks section of a commercial policy  Level 4  NQF Level 04 
    Elective  114209  Apply Return on Investment (ROI) theory and practice to a business unit  Level 4  NQF Level 04 
    Elective  120116  Apply technical knowledge and skill in order to underwrite professional indemnity insurance  Level 4  NQF Level 04 
    Elective  13949  Apply technical knowledge and skill to align business unit performance to business goals  Level 4  NQF Level 04 
    Elective  120111  Apply technical knowledge and skill to assess an aviation risk  Level 4  NQF Level 04 
    Elective  120138  Apply technical knowledge and skill to determine the quantum and validity of a domestic or light motor vehicle claim  Level 4  NQF Level 04 
    Elective  120119  Apply technical knowledge and skill to determine the quantum and validity of an industrial or heavy vehicle claim  Level 4  NQF Level 04  10 
    Elective  120115  Apply technical knowledge and understanding of business insurance  Level 4  NQF Level 04  10 
    Elective  120135  Apply technical knowledge and understanding of business motor insurance  Level 4  NQF Level 04 
    Elective  120134  Apply technical knowledge and understanding of Contract Works Insurance  Level 4  NQF Level 04 
    Elective  120114  Apply technical knowledge and understanding of fidelity insurance as a means of managing people related financial risk  Level 4  NQF Level 04 
    Elective  120108  Apply technical knowledge and understanding of insurance in the event of machinery breakdown  Level 4  NQF Level 04 
    Elective  120113  Apply technical knowledge and understanding of the insurance of timber plantations  Level 4  NQF Level 04 
    Elective  120117  Apply technical knowledge and understanding of the insurance of wild life, livestock and other animals  Level 4  NQF Level 04 
    Elective  13941  Apply the budget function in a business unit  Level 4  NQF Level 04 
    Elective  13953  Apply the principles of situational leadership to a business unit  Level 4  NQF Level 04 
    Elective  117129  Apply the regulations for disclosure that are required as part of the financial sales process  Level 4  NQF Level 04 
    Elective  13942  Demonstrate a basic understanding of the role of a business strategy in managing a small business or a business unit  Level 4  NQF Level 04 
    Elective  120006  Demonstrate knowledge and application of aviation legislation that impacts on insurance  Level 4  NQF Level 04 
    Elective  120018  Demonstrate knowledge and application of Sectional Title Insurance  Level 4  NQF Level 04 
    Elective  119682  Demonstrate knowledge and application of the Value Added Tax (VAT) Act 89 of 1991 as amended as it applies to insurance policies  Level 4  NQF Level 04 
    Elective  12164  Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002)  Level 4  NQF Level 04 
    Elective  120137  Demonstrate knowledge and skill in order to assess a non-motor claim  Level 4  NQF Level 04 
    Elective  14984  Demonstrate knowledge and understanding of engineering insurance  Level 4  NQF Level 04 
    Elective  120129  Demonstrate knowledge and understanding of financial interactions of insurers, underwriting managers and intermediaries in short term insurance  Level 4  NQF Level 04 
    Elective  120015  Demonstrate knowledge and understanding of house owners insurance  Level 4  NQF Level 04 
    Elective  120008  Demonstrate knowledge and understanding of the insurance of pleasure craft  Level 4  NQF Level 04 
    Elective  120026  Demonstrate knowledge and understanding of the Road Ordinance as it applies to motor insurance  Level 4  NQF Level 04 
    Elective  120112  Demonstrate knowledge and understanding of the sales process in Short Term insurance  Level 4  NQF Level 04 
    Elective  120013  Demonstrate knowledge and understanding of the scope of transportation insurance  Level 4  NQF Level 04 
    Elective  120012  Demonstrate knowledge and understanding of the scope of travel insurance in South Africa  Level 4  NQF Level 04 
    Elective  120023  Demonstrate knowledge and understanding of the standard in insurance cover in terms of NASRIA  Level 4  NQF Level 04 
    Elective  120009  Demonstrate knowledge and understanding of transportation insurance  Level 4  NQF Level 04 
    Elective  120014  Demonstrate knowledge and understanding of warranty as a class of insurance  Level 4  NQF Level 04 
    Elective  113903  Demonstrate skills and techniques required to build a relationship with a client in a financial services environment  Level 4  NQF Level 04 
    Elective  117241  Develop a business plan for a small business  Level 4  NQF Level 04 
    Elective  113923  Explain fiduciary responsibilities and the associated risks  Level 4  NQF Level 04 
    Elective  113928  Explain the application of the Promotion of Access to Information Act, 2 of 2002 and the Electronic Transactions and Communications Act, 25 of 2002, in Wealth Management  Level 4  NQF Level 04 
    Elective  119909  Explain the implications of climate change for an economic sector  Level 4  NQF Level 04 
    Elective  117155  Explain the scope of the Compensation for Occupational Injuries and Diseases Act 130 of 1993 (COIDA)  Level 4  NQF Level 04 
    Elective  119899  Explain trade in a global economy  Level 4  NQF Level 04 
    Elective  14319  Explore strategies to retain or expand existing business in the insurance/investment industry  Level 4  NQF Level 04 
    Elective  118005  Investigate quality and control mechanisms in a business unit  Level 4  NQF Level 04 
    Elective  117244  Investigate the possibilities of establishing and running a small business enterprise (SMME)  Level 4  NQF Level 04 
    Elective  120131  Manage the risk in an agricultural entity  Level 4  NQF Level 04 
    Elective  114215  Mentor a colleague to enhance the individual`s knowledge, skills, values and attitudes in a selected career path  Level 4  NQF Level 04 
    Elective  13947  Motivate a team  Level 4  NQF Level 04 
    Elective  120123  Process a short term insurance claim  Level 4  NQF Level 04 
    Elective  120133  Produce photographic evidence of a collision  Level 4  NQF Level 04 
    Elective  120110  Underwrite a standard risk in short term commercial insurance  Level 4  NQF Level 04  10 
    Elective  120118  Underwrite a standard risk in short term personal insurance  Level 4  NQF Level 04 
    Elective  113912  Use an electronic system to propose a financial solution  Level 4  NQF Level 04 
    Elective  12153  Use the writing process to compose texts required in the business environment  Level 4  NQF Level 04 


    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    LP ID Learning Programme Title Provider Pre-2009
    NQF Level
    NQF Level Min Credits Learning Prog End Date Quality
    Assuring
    Body
    NQF Sub-Framework
    49929  Further Education and Training Certificate: Short Term Insurance  Generic Provider - Field 03  Level 4  NQF Level 04  150     INSETA  OQSF 
    62791  Further Education and Training Certificate: Short Term Insurance (Commercial)  Milpark Business School  Level 4  NQF Level 04  150     INSETA  OQSF 
    62790  Further Education and Training Certificate: Short Term Insurance (Personal)  Milpark Business School  Level 4  NQF Level 04  150     INSETA  OQSF 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THESE LEARNING PROGRAMMES: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Quality Assuring Bodies have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Quality Assuring Body should be notified if a record appears to be missing from here.
     
    LP ID Learning Programme Title Accredited Provider
    49929  Further Education and Training Certificate: Short Term Insurance  1. ADVTECH RESOURCING (PTY) LTD
    2. African Resources and Financial Training (Pty) Ltd
    3. Agattu Trading 242
    4. Boston School Of Finance
    5. Cedar Employee Benefits and Consultants
    6. Cherry Tree Trading cc
    7. CKP Development Agency cc
    8. Damelin (Pty) Ltd
    9. De Vries Management & Training Services
    10. EJW Financial Services (PTY) Ltd
    11. Etana Insurance Company
    12. Executive People Development Solutions(PTY) Ltd
    13. faisit (Pty) Ltd
    14. FirstRand Bank Ltd
    15. INDWE BROKER HOLDINGS Ltd
    16. INDWE RISK SERVICES(PTY)LTD
    17. Insurance Technical School
    18. Invuya Institute of Learning
    19. Masifunde Training Centre
    20. Mutual & Federal Ins Co Ltd
    21. Octomate
    22. PSG Academy (Pty) Ltd
    23. RICHTEK CAMPUS. UMFOLOZI COLLEGE
    24. Rio Ridge 1226
    25. RJM Educational Consulting
    26. Telesure Investment Holdings
    27. WORKERS ACADEMY OF INSURANCE  



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.