SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

Explore strategies to retain or expand existing business in the insurance/investment industry

SAQA US ID	UNIT STANDARD TITLE
14319	Explore strategies to retain or expand existing business in the insurance/investment industry
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 4	NQF Level 04	3
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
2026-06-30		2029-06-30

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

The key purpose of this unit standard is to provide learners with the knowledge and skill required to retain business when faced with possible terminations.

The qualifying learner is capable of:
! Identifying opportunities to retain clients and expand business.
! Understanding the organisational and legislative environment in order to offer alternative insurance/investment solutions.
! Demonstrating principles of good customer care and client service.
! Understanding legal and financial aspects of alternatives for insurance and investment solutions.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

There is open access to this unit standard. Learners should be competent in communication and mathematical literacy at Level 3.

UNIT STANDARD RANGE

The typical scope of this unit standard is:

Constraints of the product relate to premiums, payments, updates, structure and term.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Identify opportunities to retain clients and expand business.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The retention policy for a specific organisation is explained and applied to five case studies.

ASSESSMENT CRITERION 2

2. Opportunities to expand business are identified based on an existing client database.

ASSESSMENT CRITERION 3

3. Five requests to decrease or terminate business are analysed in terms of changed needs and attitudes and a decision is made to accede to the requests or to attempt to retain the business in each case.

ASSESSMENT CRITERION 4

4. The implications of losing the client and growing the business are explained with reference to the organisation and the employee.

SPECIFIC OUTCOME 2

Demonstrate knowledge and understanding of the organisational and legislative environment.

OUTCOME NOTES

Demonstrate knowledge and understanding of the organisational and legislative environment in order to offer alternative insurance/investment solutions.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The products/instruments offered by a specific organisation are identified and the constraints of and alterations to the product/instrument are explained for four different products/instruments.

ASSESSMENT CRITERION 2

2. The internal procedures required to effect a change are explained with reference to a specific company policy.

ASSESSMENT CRITERION 3

3. A solution to retain business is offered and the benefits to the client are explained in terms of cost and product features.

ASSESSMENT CRITERION 4

4. Threats to move business on the basis of cost to client are analysed and a possible counter action is offered within own limits of authority for three different scenarios.

SPECIFIC OUTCOME 3

Demonstrate principles of good customer care and client service.

OUTCOME NOTES

Demonstrate principles of good customer care and client service in attempting to retain existing business.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Empathy is demonstrated in role play for three authentic scenarios.

ASSESSMENT CRITERION 2

2. Persuasive techniques are demonstrated in role play for three authentic scenarios within own level of accreditation in terms of FAIS and Policyholder Protection legislation.

ASSESSMENT CRITERION 3

3. Ways of dealing with conflict and damage control are demonstrated in role play for three authentic scenarios within own level of accreditation in terms of FAIS and Policyholder Protection legislation.

SPECIFIC OUTCOME 4

Demonstrate knowledge and understanding of legal and financial aspects.

OUTCOME NOTES

Demonstrate knowledge and understanding of legal and financial aspects of alternatives for insurance/investment solutions.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Legal and financial implications associated with different products/instruments marketed by an organisation are explained and an indication is given of the consequences of giving incorrect information.

ASSESSMENT CRITERION 2

2. The need to refer the client to a specialist in situations where the advice needed exceeds the level of accreditation is explained and an indication is given of who the client could be referred to for best advice and the client's interests.

ASSESSMENT CRITERION 3

3. Potential problems in a product, product group and/or group of clients are identified, the cause of the problem is analysed from daily case load and a recommendation is made that could possibly assist in resolving the problems.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

This unit standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA, INSQA framework for assessment and moderation.

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

Learners are able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in identifying and analyzing potential problems in a product or group of clients; recommending possible ways of resolving the problems; deciding whether to accede to a request to terminate business or attempt to retain the business; offering solutions to retain business.

UNIT STANDARD CCFO WORKING

Learners are able to work effectively with others as a member of a team organisation in knowing when to refer a client and suggesting an alternate adviser in the client`s best interests.

UNIT STANDARD CCFO ORGANISING

Learners are able to organise themselves and their own activities in that they are required to plan their own work programme to ensure that they meet their income requirements.

UNIT STANDARD CCFO COLLECTING

Learners are able to collect, organise and critically evaluate information in analysing changed needs and attitudes and offering alternate insurance/investment solutions.

UNIT STANDARD CCFO COMMUNICATING

Learners are able to communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in explaining constraints of different products, offering alternate insurance/investment options and demonstrating principles of good customer care and client service.

UNIT STANDARD CCFO DEMONSTRATING

Learners are able to demonstrate an understanding of the world as a set of related systems by explaining the implications of losing a client for the organisation and the employee.

REREGISTRATION HISTORY

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

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Core	48888	National Diploma: Hiring Operations Management	Level 5	NQF Level 05	Passed the End Date - Status was "Reregistered"	2016-12-31	SERVICES
Elective	61595	Further Education and Training Certificate: Business Administration Services	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-06-30	As per Learning Programmes recorded against this Qual
Elective	49649	Further Education and Training Certificate: Long-term Insurance	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-06-30	INSETA
Elective	66610	Further Education and Training Certificate: Short Term Insurance	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-07-30	As per Learning Programmes recorded against this Qual
Elective	57613	Further Education and Training Certificate: Short-Term Risk Management	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2012-06-30	INSETA
Elective	48640	National Certificate: Financial Services Management	Level 4	Level TBA: Pre-2009 was L4	Passed the End Date - Status was "Reregistered"	2023-06-30	INSETA
Elective	20773	National Certificate: Long Term Insurance	Level 4	NQF Level 04	Passed the End Date - Status was "Registered"	2004-12-05	INSETA
Elective	21796	National Certificate: Short Term Insurance	Level 4	NQF Level 04	Passed the End Date - Status was "Registered"	2005-06-12	Was INSETA until Last Date for Achievement

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.

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