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Advanced Options
Functional Areas:

1. Sales & Distribution Management

This functional area refers to the provision of services to individual and corporate clients in the introduction, promotion, and transaction processing of insurance products and services with professional knowledge and skills. It includes:

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
105463L2 Understand insurance sales 1
105464L2 Maintain channel data and performance record 2
Level 3
105473L3 Prospect for new customers 2
105474L3 Approach prospects 2
105475L3 Expand customer bases 2
105477L3 Prepare insurance proposals 2
105478L3 Deliver sales presentation 2
105479L3 Apply selling skills to secure insurance sales 3
105480L3 Handle objections to secure insurance sales 3
105689L3 Comprehend fundamental principles and common practices of insurance 3
105699L3 Comprehend principles of life insurance for insurers 3
Level 4
105476L4 Assess customers' needs 3
105496L4 Provide support services for channel partners 4
105667L4 Conduct financial planning assessment for customers 3
105671L4 Explain risks of investment-linked products to customers 3
105692L4 Implement financial planning recommendations 3
105693L4 Monitor and review financial plans for customers 3
Level 5
105524L5 Manage responsible and ethical selling 4
105525L5 Apply coaching and mentoring skills to guide individual agents 3
105526L5 Establish achievement targets for individual agents 3
105527L5 Conduct performance appraisals to drive for performance 3
105528L5 Manage key account to drive for insurance sales 3
105529L5 Plan and manage continuing professional development (CPD) training 3
105528L5 Manage key account to drive for insurance sales 3
105530L5 Support agents to establish and expand customer bases 3
105531L5 Improve agents' selling skills 3
105532L5 Evaluate channel performance 3
105533L5 Explore new distribution channels 3
105678L5 Manage distribution channels for life insurance 3
Level 6
105603L6 Manage agency team to achieve targets 4
105605L6 Develop channel recruitment strategies 4
105685L6 Formulate corporate channel distribution strategies for life insurance 5
105695L6 Develop commissions policies 5
Level 7

2. Marketing

This functional area refers to the activities involved in the introduction, demonstration, and promotion of services and products with professional knowledge and skills to meet client needs and satisfactions. It includes:

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
Level 3
105481L3 Understand marketing management in insurance industry 2
Level 4
105497L4 Plan and carry out promotional plans for new/revamped products 4
105498L4 Design sales kits for products 3
105499L4 Implement customer relationship campaigns 3
105500L4 Publish newsletters for customers 3
105501L4 Design and carry out customer satisfaction surveys 3
105502L4 Implement marketing plans 3
105503L4 Formulate advertising campaigns 4
105504L4 Implement advertising campaigns 4
105505L4 Create media-specific advertisements for advertising campaigns 4
105506L4 Monitor advertisement productions 4
105507L4 Conduct electronic marketing 3
105508L4 Create promotional gifts 3
Level 5
105535L5 Conduct market research for product development or revamp 3
105536L5 Conduct insurance market and competitors' analysis to support and evaluate corporate marketing strategy development 3
105537L5 Apply market segmentation to support new product and new market development 3
105538L5 Conduct product mix analysis 3
105539L5 Develop new products 4
105540L5 Revamp existing products 4
105541L5 Develop new/revamp product promotional plans 3
105542L5 Develop customer relationship campaigns 3
105543L5 Manage corporate brand equity 4
105544L5 Design and launch secret customer programme 3
105545L5 Manage external service providers to conduct marketing activities 3
105546L5 Develop corporate marketing communication strategy 3
105547L5 Develop marketing plans 3
105548L5 Evaluate effectiveness of advertising campaigns 3
105549L5 Manage corporate website 3
105550L5 Manage crisis communications 3
105679L5 Develop investment-linked products 5
Level 6
105606L6 Develop new product development procedures 4
105607L6 Develop product revamp procedures 4
105608L6 Develop customer relationship strategies 3
Level 7
105639L7 Formulate corporate marketing strategies for insurers 4
105640L7 Develop corporate marketing strategies for insurance intermediaries 4

3. Underwriting

This functional area refers to the tasks involved to ensure that the insurance charges are appropriate for the coverage and the degree of risks are properly evaluated. It includes:

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
105465L2 Maintain up-to-date underwriting records 2
Level 3
105483L3 Prepare and issue insurance documents 2
105668L3 Process life insurance applications 3
Level 4
105673L4 Approve life insurance applications involving standard risks 3
Level 5
105557L5 Manage underwriting operations 5
105558L5 Evaluate quality of insurance underwriting operations against service pledges 3
105559L5 Develop underwriting manuals 5
105560L5 Produce risk exposure reports 3
105561L5 Control risk exposures 5
105562L5 Provide risk assessment training 3
105563L5 Manage risk assessment activities 3
105564L5 Establish risk assessment guidelines 6
105565L5 Implement reinsurance policies 5
105566L5 Manage reinsurance activities 6
105680L5 Assess life insurance applications involving standard risks 3
105681L5 Approve life insurance applications involving non-standard risks 3
105682L5 Decline life insurance applications involving non-standard risks 3
Level 6
105610L6 Establish insurance underwriting authority limits 4
105611L6 Establish underwriting policies 5
105612L6 Establish risk exposure policies 5
105613L6 Establish reinsurance policies 5
105686L6 Establish risk premium tables and policies for life insurance 5
Level 7
105641L7 Establish profitability strategies for different business lines 5

4. Policy Service

This functional area covers management and implementation of policy issuance, verification and delivery of documents.

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
Level 3
105485L3 Make courtesy calls to customers to confirm the receipt of policies 3
105486L3 Contact customers for deferred and/or declined applications 2
105487L3 Arrange refund to customers via insurance intermediaries 2
105489L3 Arrange special premium payments (e.g. by third party, overseas customers) 2
105490L3 Prepare policies, endorsements and premium notes 2
105491L3 Review insurance applications and supporting materials 2
105669L3 Process life insurance policy anniversaries 2
105672L3 Handle traditional and investment-linked life insurance policy documents 2
105689L3 Comprehend fundamental principles and common practices of insurance 3
105699L3 Comprehend principles of life insurance for insurers 3
Level 4
105511L4 Detect and handle overpayments 3
105512L4 Explain to insurance intermediaries on inadequate or incomplete applications 2
Level 5
105567L5 Process customer requests on changes to existing policies 2
105568L5 Develop policy service guidelines 6
105569L5 Manage call centre operations 6
105570L5 Train staff members to handle calls and evaluate quality of calls 5
105571L5 Analyze call statistics to enhance business functions 3
Level 6
Level 7

5. Claims

This functional areas refers to all the activities involved to determine the validity and approval of insurance claims. It includes:

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
105466L2 Maintain up-to-date claims records 2
Level 3
105670L3 Process life insurance claims applications 2
Level 4
105674L4 Open and review life insurance claims files 2
105675L4 Assess claims applications for life insurance 3
105676L4 Close life insurance claims files 2
105677L4 Settle life insurance claims 4
Level 5
105573L5 Analyze claims data to forecast company liability and profitability 4
105574L5 Evaluate performance of appointed experts/specialists 3
105575L5 Develop claims operation manuals and best practices 5
105576L5 Handle and manage suspected fraudulent claimss 3
105683L5 Manage the production of claims reports for life insurance 3
Level 6
105614L6 Manage claims operations 6
105615L6 Assess performance and quality of insurance claims operations 6
105616L6 Establish insurance claims authority limits 4
105617L6 Establish procedures and guidelines on handling suspected fraudulent claims 5
105618L6 Formulate insurance claims policies 6
Level 7
105642L7 Formulate insurance claims reserving policies 5

6. Legal & Compliance

This functional area refers to all the activities involved to address public concern on the proper selling of insurance products and services. Emphasis will put on the best practice on selling as well as knowledge of regulatory requirements so that to promote the insurance professionalism. It also involves It includes:

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
Level 3
105493L3 Carry out compliance inspection on sales and marketing activities 4
105494L3 Carry out compliance inspection on business activities of internal units 4
105495L3 Generate compliance reports 3
Level 4
105518L4 Promote staff compliance awareness 3
105519L4 Conduct internal audits 4
105520L4 Produce audit reports 3
Level 5
105578L5 Design and organize compliance training 3
105579L5 Analyze effectiveness of compliance training programmes 3
105580L5 Establish compliance monitoring system 6
105581L5 Develop and maintain compliance manuals 6
105582L5 Oversee compliance implementation 5
105583L5 Monitor and evaluate compliance risks 5
105584L5 Handle non-compliance cases 4
105585L5 Liaise with regulatory bodies 4
105586L5 Develop and maintain audit manuals 6
105587L5 Oversee internal audit operations 5
105588L5 Handle non-compliance audit cases 3
105589L5 Monitor quality standard of products and services 3
Level 6
105620L6 Evaluate effectiveness of enterprise risk management framework 5
105621L6 Formulate corporate compliance policies 6
105622L6 Establish audit system 6
105623L6 Represent company in legal matters 3
105624L6 Provide training on legal knowledge to general staff 3
105625L6 Handle legal enquiries 3
105626L6 Advise on insurance contracts 3
105627L6 Advise on company legal risks 3
105628L6 Advise on new or change of regulations 3
105629L6 Establish internal control procedures 5
105630L6 Implement corporate social responsibility strategies 3
105631L6 Monitor corporate social responsibility fulfillment 3
105632L6 Formulate products and service quality standards 4
105633L6 Establish quality management system 5
Level 7
105643L7 Formulate enterprise risk management strategies 6
105644L7 Manage enterprise risks 5
105645L7 Formulate company corporate governance policies 6
105646L7 Assess performance of senior management 4
105647L7 Formulate corporate social responsibility strategies 4

7. Operational Support & Services

This functional area refers to the all services and support that are essential to ensure effective operations, as well as the sustainable development, of the entire organization. It includes:

QF Level
  Code Name Credit
Level 1
105458L1 Understand insurance terminologies 1
Level 2
105459L2 Apply Chinese writing skills to support service delivery 2
105460L2 Apply English writing skills to support service delivery 2
105461L2 Use Putonghua to support service delivery 2
105462L2 Maintain up-to-date customer records to support daily operations 2
105467L2 Issue payments to customers 2
105468L2 Collect payments from customers 2
105469L2 Issue commissions and arrange payrolls 2
105470L2 Maintain insurance policyholders' accounts 2
105471L2 Maintain agents' accounts 2
105472L2 Maintain staff personal files 2
Level 3
Level 4
105521L4 Support initial actuarial analysis 4
105522L4 Conduct induction training for newly joined staff 2
105523L4 Provide user support for insurance computerized systems 3
105694L4 Provide actuarial support to daily operations 4
Level 5
105529L5 Plan and manage continuing professional development (CPD) training 3
105590L5 Conduct valuations of assets and liabilities 3
105591L5 Develop procedures to monitor cash flows 6
105592L5 Set up billing and collection procedures 5
105593L5 Prepare financial statements 3
105594L5 Monitor cash flows 5
105595L5 Develop budgets for proposals and projects 3
105596L5 Manage investment reports 4
105597L5 Monitor financial ratios 4
105598L5 Monitor asset mix 4
105599L5 Support business units in organizing and implement staff training 3
105600L5 Develop staff training programmes 3
105601L5 Manage staff recruitment 3
105602L5 Develop computerized systems to support business functions 4
105684L5 Advise on investment portfolio management 3
Level 6
105634L6 Develop corporate financial management strategies 6
105635L6 Implement investment strategies 5
105636L6 Develop compensation policies 5
105637L6 Develop corporate human resources strategies 5
105638L6 Develop information security policies 5
105687L6 Price new or revamped products 4
Level 7
105648L7 Formulate investment management strategies 6
105688L7 Manage actuarial practices for life insurance 6
105696L7 Support long-term profitability with actuarial expertise 6
Note:

The SCS has been moderated by the Hong Kong Council for Accreditation of Academic and Vocational Qualifications (HKCAAVQ) to ensure consistency of QF level across industries.

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