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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Negotiate a proposal with a short term insurer 
SAQA US ID UNIT STANDARD TITLE
243157  Negotiate a proposal with a short term insurer 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  6 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who are actively involved in quoting, placing and retaining of business for a large commercial or corporate insurer. It will be useful for Intermediaries, Surveyors, Assessors and Intermediaries.

The qualifying learner is capable of:
  • Conducting a needs analysis for a complex commercial or corporate client.
  • Analysing the broad outline of cover available based on selected policy wordings.
  • Presenting the required information on a portfolio to an underwriter.
  • Negotiating terms and conditions of an insurance contract. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Proposals include brokers notes and tender documents to obtain a quote on a risk portfolio.
  • Policy wordings include, but are not limited to, Multimarkä, Outsurance, Assets and All Risks and Lloyds.
  • Shortcomings from the side of the insurer, client and underwriting.
  • A needs analysis includes, but is not limited to, Industry needs analysis, disclosure documents, fact finding and recommendation (advice).
  • Large Commercial and Corporate enterprises include Local, Provincial and National Government Departments. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Conduct a needs analysis for a complex commercial or corporate client. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The risk in a complex commercial or corporate client is ascertained from claims experience and material facts relevant to the business. 

    ASSESSMENT CRITERION 2 
    Previous and/or up to date insurance risk identification reports and surveys are analysed to determine the need for insurance. 

    ASSESSMENT CRITERION 3 
    The insurance market for a specific portfolio is identified based on analysis of the specialisations of different insurers. 

    SPECIFIC OUTCOME 2 
    Analyse the broad outline of cover available based on a selected policy wording. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Cover is analysed to identify shortcomings for the insurer and the insured and to identify non-insured exposures. 

    ASSESSMENT CRITERION 2 
    The most appropriate or best underwriter is selected for the client for each aspect of the portfolio. 

    SPECIFIC OUTCOME 3 
    Present the required information on a portfolio to the underwriter. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Information required by a selected underwriter for a specific portfolio is collated and organised in a professional proposal. 

    ASSESSMENT CRITERION 2 
    The importance of presentation is explained with reference to the effect of presentation on the underwriting decision and the intermediary's own professional indemnity insurance. 

    SPECIFIC OUTCOME 4 
    Negotiate terms and conditions of an insurance contract. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Rates, excesses, terms and conditions are negotiated with an underwriter for a specific large commercial or corporate client. 

    ASSESSMENT CRITERION 2 
    Prevailing market rates for a specific risk are applied to determine whether the quote is reasonable. 

    ASSESSMENT CRITERION 3 
    Quotes from different insurers are compared in terms of the value proposition and a decision is made as to the most beneficial way to place the risk from the client's perspective. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is capable of identifying and solving problems in which responses show that responsible decisions using critical thinking have been made in negotiating the terms and conditions of an insurance contract. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is capable of collecting, organising and critically evaluating information in comparing quotes from different underwriters. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicating effectively in negotiating an insurance contract. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  57918   National Certificate: Short Term Insurance  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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 Primary or Delegated Quality Assurance Functionaries 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 Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. Ripple Effect 4 (Pty) Ltd 
    3. The Graduate Institute of Financial Sciences (Pty) Ltd 


    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.