Insurance Administration Scope of Work

New Business Processing

• Receive and review client proposal/application forms for completeness and accuracy before submission.
• Enter client and risk data into broker management systems
• Obtain quotes from multiple insurers using portals, underwriting contacts, or group facilities
• Prepare comparison summaries highlighting coverage differences, premiums, and exclusions for broker review.
• Assist with placement confirmation, including cover notes or binders once authorised by the broker.
• Ensure all pre-binding requirements are documented (signed proposal forms, declarations, compliance checklists).

Policy Binding & Invoicing

• Prepare and issue final policy documentation once binding instructions are received.
• Generate client invoices including premiums, taxes, statutory charges, and brokerage fees.
• Confirm binder or policy issuance with insurers and upload to broker management systems.
• Cross-check insurer confirmations against instructions for accuracy and completeness.
• Maintain transaction records in accordance with ASIC and AFCA requirements.

Policy Administration & Endorsements

• Process mid-term policy adjustments, endorsements, and cancellations.
• Update schedules, endorsements, and policy details in the broker management system.
• Liaise with insurers to confirm acceptance and document adjustments.
• Calculate and issue invoices or credits for return premiums and additional premiums.
• Ensure all client-facing documents are distributed promptly and accurately.

Renewals Management

• Generate renewal lists 6–8 weeks prior to expiry.
• Prepare submissions where instructed by the broker.
• Obtain renewal terms from incumbent and alternative insurers.
• Draft and issue renewal invitations to clients, summarising premiums, coverage and material changes.
• Track client responses and follow up on outstanding instructions.
• Process renewal acceptances, issue updated policy documents and send to clients.
• Document all renewal actions in line with compliance standards.

Claims Management Support

• Receive and log initial claims notifications from clients (phone, email, or broker portal).
• Collect and verify incident details, reports, photos and supporting documents.
• Lodge claims with insurers and obtain claim numbers and acknowledgements.
• Liaise with insurers, loss adjusters, and suppliers to progress claims efficiently.
• Provide claim status updates to clients and brokers at agreed intervals.
• Escalate delays or disputes to brokers for intervention.
• Prepare claim status reports for internal and client distribution.

Client Servicing & Communications

• Respond to client enquiries regarding coverage, documents, and account balances.
• Provide policy copies, schedules, endorsements and certificates of currency.
• Assist clients with premium payments, instalment plans and overdue balances.
• Update client details (addresses, contact details, business changes) in broker management systems.
• Coordinate routine client correspondence and service reminders.

Compliance & Record-Keeping

• Record all transactions, communications and documents in line with AFSL compliance requirements.
• Follow broker internal compliance policies and industry codes of practice.
• Apply Australian Privacy Principles in handling client data.
• Ensure audit-ready documentation and maintain clear, accurate records for regulatory review.
• Support brokers in demonstrating compliance with AFSL obligations regarding outsourced functions.