Insurance case study - Aotearoa Insurance is a licensed insurer and Qualifying Financial Entity - Accounting and Finance Assignment Help

Insurance case study Aotearoa Insurance is a licensed insurer and Qualifying Financial Entity Accounting and Finance Assignment Help

Assignment Task:

Background information
Aotearoa Insurance is a licensed insurer and Qualifying Financial Entity (QFE).

It has a comprehensive set of policies, procedures, and guidelines, which are designed to ensure the insurer complies with all relevant legislation and code of practice principles. All staff must adhere to these policies, procedures, and guidelines. David works as a Claims Consultant for Aotearoa Insurance. His responsibilities are limited to processing claims and guiding customers through the claims process. He is a salaried employee. Read the following transcript of a call David takes from a customer, Kate. As you read through the conversation, identify where specific Acts or principles of professionalism apply, and determine whether David and Aotearoa Insurance demonstrate compliance or not-­­compliance with that Act or principle of professionalism. This will prepare you for the questions in the assessment. There are five questions in the assessment covering five different Acts or principles of professionalism.

Transcript
David:    Welcome to Aotearoa Insurance, you’re speaking with David.
Kate:      My name’s Kate....my car’s been involved in an accident.

David:    I’m sorry to hear that Kate. Are you OK?

Kate:     Yeah, the car was parked outside the store where I was shopping and someone smashed into it! Tow guy reckons it’s a write-­­off but no one was injured.

David:    OK, let me call up your policy details. Now I just need to ask some security questions. Can I have your full name, please?

Kate:      Kate Ann Williams

David:    And your home address and date of birth, please?

Kate:     450 Hughes Line Palmerston North. 5th August 1995. [David takes the key details so he can lodge the claim for Kate]

David:   Right, your claim number is CL/123X. Please quote that in all claims correspondence with us. Has the towie taken your car to a garage?

Kate:     Just about to.

David:   OK, let me know the contact details for the garage and we’ll arrange for an assessor to look at the damage. We can also reimburse travel costs for getting home.

Kate:     That’s OK; my partner’s coming to pick me up. But I will need to hire a car while mine’s off the road.

David:   OK, but your policy does not cover you for hiring a car.

Kate:     But when I took out the policy I specifically asked about that and said I would need to hire a car to get me to work as I live rural.

David: Hmmm it’s an optional benefit but I can’t see it listed on your policy.

Kate:   I did it on the phone but wasn’t offered it as an option. But it should have been clear I needed it.

David:     Alright Kate, I’ll get someone to look into that for you. I realize it’s a stressful time and will try and get back to you later today.

Kate:     Well it better be today as I need to hire a car ASAP. I’m not happy with this at all. What makes it worse is that I already pay higher premiums than my partner, just                because I’m under 25. That isn’t fair; I don’t know how you get away with it, you shouldn’t be discriminating like that. Who can I complain to about all this?

David:    You can complain to the Insurance and Financial Services Ombudsman. Would you like their contact details?

Kate:       Yes I would.

                [David provides the Insurance and Financial Services Ombudsman’s contact details]

Kate:        Thanks. [Kate hangs up]

This Accounting and Finance Assignment has been solved by our Accounting and Finance experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.