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

Analyse new developments reported in the media that could impact on short term insurance 
SAQA US ID UNIT STANDARD TITLE
10363  Analyse new developments reported in the media that could impact on short term insurance 
ORIGINATOR
SGB Financial Services 
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  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2002-06-12  2005-06-12  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2006-06-12   2009-06-12  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
120019  Analyse new developments reported in the media that could impact on Short Term insurance  Level 4  NQF Level 04  10   

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended to promote general knowledge and understanding of current affairs in the field of short term insurance in order to ensure knowledgeable and informed workers in the industry. It addresses a broad base of socio-economic and environmental related knowledge and requires the analysis of current affairs as they could impact on short term insurance premiums and risk.

The qualifying learner is capable of:
  • Analysing events reported in the media that have implications for short term insurance and the effect that changing technology could have on one of the classes of short term insurance.
  • Interpreting socio economic and environmental news events of importance to short term insurance.
  • Analysing trends in climate change, disasters and socio economic development that will impact on short term insurance.
  • Interpreting the results of research and the implications of these results for short term Insurance.
  • Analysing trends in short term insurance fraud.
  • Applying knowledge of security innovations and events to short term insurance. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be able to
  • Identify events reported in the media that impact on the short term insurance industry.
  • Understand the structure of the short term insurance industry in South Africa.
  • Be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 
    		•

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
    1. Articles from insurance journals and publications, news from a daily or weekly newspaper, television or radio newscast electronic or other news media.
    2. Short term insurance means personal lines, corporate and commercial.
    3. Insurance classes:
  • Fire or Interruption,
  • Engineering,
  • Liability,
  • Motor,
  • Transit,
  • Marine,
  • Breakdown,
  • Personal Accident,
  • Professional Indemnity,
  • Aviation,
  • Crime Classes
  • Personal lines
  • Surety

    4. Specialist categories: marine, aviation and engineering.
    5. Particular events include loss, e.g. burglary, death, legal disability; change in health status e. g. onset of dread disease; change in life status e.g. birth, adoption of a child, marriage, divorce, retrenchment, retirement. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse articles and reports from current print and electronic material relating to the structure. 
    OUTCOME NOTES 
    Analyse articles and reports from current print and electronic material relating to the structure or administration of short term insurance in South Africa. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Articles and reports on events, both global and national that could result in change in the structure of the short term insurance sector are collected over a period of at least 6 months. 

    ASSESSMENT CRITERION 2 
    2. The articles are summarised showing insight into how the reported events could impact on a class of short term insurance in South Africa and/or internationally. 

    ASSESSMENT CRITERION 3 
    3. The events are summarised in a table and ranked to indicate the relative importance of each event for a class of short term insurance in South Africa. 

    ASSESSMENT CRITERION 4 
    4. Controversial issues related to a class of short term insurance are analysed and own views are expressed and substantiated in plain language. 

    ASSESSMENT CRITERION 5 
    5. The effects of changes in legislation on the short term insurance sector are analysed with reference to a particular class of business. 

    ASSESSMENT CRITERION 6 
    6. Current events in the political environment are interpreted and an indication is given of their possible impact on a class of short term insurance. 

    ASSESSMENT CRITERION 7 
    7. Current events in the State/Public Health sector that have implications for one of the classes of short term insurance are identified and an indication is given of the possible effects on short term insurance. 

    SPECIFIC OUTCOME 2 
    Demonstrate knowledge and understanding of the latest developments in technology. 
    OUTCOME NOTES 
    Demonstrate knowledge and understanding of the latest developments in technology that could impact on short term insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. New developments in technology that could affect the administration of one of the classes of short term insurance are described and an indication is given of how the technology could improve service delivery. 

    ASSESSMENT CRITERION 2 
    2. The possible impact of the innovation on a class of short term insurance is explained and an indication is given of the possible time frame before the technology becomes readily available. 

    ASSESSMENT CRITERION 3 
    3. The pros and cons of the new technology are investigated and summarised in a table. 

    ASSESSMENT CRITERION 4 
    4. A recommendation is made as to whether the innovation should be further investigated and how it could add value to a particular organisation. 

    SPECIFIC OUTCOME 3 
    Interpret the effect that innovations in crime and accident prevention could have. 
    OUTCOME NOTES 
    Interpret the effect that innovations in crime and accident prevention could have on one of the classes of short term insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. New developments in technology are named and an indication is given of how the new technology could affect the pattern of claims. 

    ASSESSMENT CRITERION 2 
    2. Articles and reports about innovations and developments in crime and accident prevention are collected and organised and an indication is given as to how these will impact on one of the classes of short term insurance. 

    ASSESSMENT CRITERION 3 
    3. The positive and negative aspects of new innovations are analysed and compared to other current remedies/strategies for dealing with the same problem. 

    ASSESSMENT CRITERION 4 
    4. The possible impact of a strategy such as the Arrive Alive campaign is interpreted and comment is offered on the effect of the campaign on short term insurance. 

    ASSESSMENT CRITERION 5 
    5. The cost implications of new developments are considered and a decision is made as to whether, on the information available, a development could/should be added to existing benefits. 

    ASSESSMENT CRITERION 6 
    6. Information relating to current events is collected and organised to allow for an analysis of trends. 

    ASSESSMENT CRITERION 7 
    7. Current personal accident events are analysed and the possible impact of the events on a class of short term insurance are summarised in a table. 

    ASSESSMENT CRITERION 8 
    8. Information relating to current life threatening events is collected and organised to allow for comparison and analysis. 

    ASSESSMENT CRITERION 9 
    9. A report is compiled and presented on the most promising innovations of the previous six months and the possible impact that these will have on a class of short term insurance. 

    SPECIFIC OUTCOME 4 
    Demonstrate knowledge and understanding about the impact of climate change. 
    OUTCOME NOTES 
    Demonstrate knowledge and understanding about the impact of climate change, disasters and socio economic developments on short term insurance. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Climate related trends and their effect on short term insurance in South Africa are analysed and reported using data processing methodology and graphicacy skills. 

    ASSESSMENT CRITERION 2 
    2. The possible influence of these trends on underwriting practices in South Africa is indicated with reference to how they could affect product development. 

    ASSESSMENT CRITERION 3 
    3. The effect of global warming on climate change is discussed with an indication of how this could impact on insurance claims patterns. 

    ASSESSMENT CRITERION 4 
    4. Reasons for natural and other disasters are explained and a plan is developed to reduce the risk to insurers. 

    ASSESSMENT CRITERION 5 
    5. The five most common causes for claims reported over a six-month period in South in Africa are illustrated graphically. 

    ASSESSMENT CRITERION 6 
    6. Socio economic conditions that are possible causes of events that affect short term insurance are identified in the media and a plan of action is suggested that would reduce the impact of these conditions. 

    ASSESSMENT CRITERION 7 
    7. The causes of the most common claims in South Africa are analysed from print media and newscasts. 

    ASSESSMENT CRITERION 8 
    8. Possible/predicted disasters in Africa that could impact on South Africa are identified and an indication is given of how these trends could affect short term insurance. 


    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 can identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in recommending whether an innovation should be further investigated and how it could add value to an organisation. 

    UNIT STANDARD CCFO ORGANISING 
    Learners can organise and manage themselves and their activities responsibly and effectively in collecting and organising a portfolio of evidence for the assessment of this unit standard. 

    UNIT STANDARD CCFO COLLECTING 
    Learners can collect, organise and evaluate information when researching and interpreting current affairs and indicating the possible impact of current events on the insurance sector. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners can communicate effectively using visual, mathematics and language skills when presenting the findings of their research. 

    UNIT STANDARD CCFO SCIENCE 
    Learners can use science and technology effectively and critically showing responsibility towards the environment and the health of others in researching developments in technology that will impact on short term insurance. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to demonstrate an understanding of the world as a set of related systems when analysing, comparing and interpreting events and innovations. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Learners are able to explore a variety of strategies of learning when gathering information from a broad spectrum of media. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 120019, which is "Analyse new developments reported in the media that could impact on Short Term insurance", Level 4, 10 credits.

    Portfolio assessment over a period of six months is required for this unit standard. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  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.
     
    NONE 


    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.