FNS51220 Diploma of Insurance Broking

About our FNS51220 Diploma of Insurance Broking

Our nationally recognised qualification FNS51220 Diploma of Insurance Broking is designed to provide relevant industry knowledge and skills for a successful career in insurance broking.

Get comprehensive learning on all your general insurance essentials, including licensing and regulation, the make-up of the insurance industry, insurance products and services, the insurance broking process, handling insurance claims, advising clients with complex needs, and marketing and practice management skills.

Undertaking a qualification enhances your professional credibility, allowing you to develop knowledge and skills that ultimately benefit your practice and your customers. Providing fit for purpose, industry-relevant learning is our way of ensuring you stay up to date and well-equipped in an evolving insurance landscape.

About our course

Study at your own pace and according to your individual needs. We give you opportunity to access your material multiple times throughout the enrolment period, and to extend your learning and capability beyond compliance requirements in the context of your role, team, business unit or organisation.

Our FNS51220 Diploma of Insurance Broking is compliant with the revised FNS training package and latest laws, regulatory guidance and industry codes. Developed in consultation with practising professionals, we will be incorporating new features and industry best practices, giving our students a valuable edge in the field.

You can start with our RG146 Insurance Broking Program. This is the first subject in our Diploma and meets ASIC Regulatory Guide RG146 education requirements for providing personal advice in Insurance Broking.

Who is this course for?

Our Insurance Broking subjects are for general insurance advisers and insurance brokers.
This includes:

  • Insurance brokers and general insurance advisers upskilling or updating current credentials
  • Industry professionals expanding or transitioning into insurance broking
  • New entrants seeking to pursue a career in the general insurance sector.

Program Content

  • Tier 1 RG146 Insurance Broking
  • Handling insurance claims for retail clients
  • Advising clients with complex insurance needs
  • Marketing and advising on insurance products

Learning Outcomes

What you will learn

  • How insurance professionals’ conduct is governed by financial services and insurance-specific laws, regulation, industry codes, and organisational policies
  • How to plan and implement strategies to manage compliance risks and maintain professional competence
  • Guidance on delivering appropriate insurance products and services to customers compliantly and ethically, including advice in Tier 1 general insurance and handling and settling claims
  • Product knowledge and advanced communication skills to market and distribute insurance products and services effectively.

Who is this course for?

Units of Competency

  • FNSASICY513 Provide advice in insurance broking
  • FNSIBK415 Meet compliance requirements relating to insurance broking
  • FNSIBK416 Deliver insurance broking services
  • FNSIBK518 Implement changes to insurance programs of broking clients
  • FNSIBK522 Negotiate complex claims settlement for insurance broking clients
  • FNSIBK523 Prepare submissions for new insurance broking business
  • FNSIBK524 Manage complex risk portfolios for insurance broking clients
  • FNSISV405 Analyse insurance claims
  • FNSISV408 Manage handling and settlement of routine insurance claims for retail clients
  • FNSINC412 Apply and maintain knowledge of financial products and services
  • FNSSAM521 Apply advanced techniques to provide financial products and services

Pre-requisite

There are no entry requirements.

However, it is recommended participants should ideally be working in the financial services industry, preferably in the insurance sector, in order to undertake practice-based assessment.

New entrants to the industry are required to complete the first subject Tier 1 RG146 Insurance Broking before being eligible to progress to the other diploma subjects.

Recognition of Prior Learning

Recognition of Prior Learning and Credit Transfer

You may be able to obtain Recognition of Prior Learning (RPL) for previous study and/or work experience. You will be required to provide evidence that demonstrates you have already met the requirements of the requested exemption.

Evidence can take many forms, such as information about approved study, information about work experience, certificates, transcripts or other credentials.

Please note the RPL fee is $395 per subject and can be applied for in the application process.

If you have completed a unit of competency that is deemed equivalent to one of the units included in our Diploma of Insurance Broking program, you may be eligible for a credit transfer. To apply for a credit transfer, you will need to provide evidence of your previously completed unit, such as a statement of attainment or transcript.

Please note the credit transfer fee is $50 per unit of competency.

Certification

  • Statement of Attainment
  • Record of Results
  • a Testamur.

Launch your Career

Download Brochure

Frequently Asked Questions

Yes, you can choose to just enrol in our RG146 Insurance Broking program. This is the first subject in our Diploma. Should you complete our Tier 1 Insurance broking program, this can be recognised towards our FNS51220 Diploma of Insurance broking if you decide to enrol into our full diploma at a later date.

Our diploma
  • will take approximately 12 months full time or 18 months part time to complete
  • participants have a total of 16 weeks to complete the learning and assessment requirements for each subject

FEP is an education provider, so cannot guide you on a career path. You could start with chatting to an employer or prospective employer to determine what you would need to do. You could also check the following:

The total fee for our FNS51220 Diploma of Insurance Broking is $3,380.00. Learners will be charged in four (4) equal instalments. Under RTO Standards 2015, FEP won’t accept more than $1,500.00 in a single payment. Access to FEP Online and learning materials will be provided upon receipt of initial payment.
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act). Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.