Insurance Exclusive: Onboarding Checklist - Cognology

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Insurance exclusive:onboarding checklistSupporting onlineonboarding, performance and learning

Did you know?Only 41% of consumerstrust insurance companiesDoes Your Onboarding Have What It Takes To BuildA Better Culture?Insurance is the least trusted industry according to the new SAI Global Consumer TrustIndex. Only 41% of consumers participating in the survey indicated that they trust insurancecompanies.It’s no secret that insurance is a grudge purchase (I mean who ever heard of anyonewhipping out their new Product Disclosure Statement and saying “oh man, you’ve got toread this, it’s awesome!”) It is also true that the real value of insurance is only ever realisedduring the most trying of circumstances in people’s lives. But when you consider that manyconsumers are putting their home, investments, vehicles, pets, personal health and thelonger term welfare of their loved ones squarely into the hands of an industry they say theydon’t trust - these survey figures are pretty alarming.Insurance sector still plagued by scandal and misconductThough it is one of the most highly regulated industries, scandals and misconduct involvinginsurers continue to occupy the headlines and social media. As recently as January thisyear a number of general insurers were ordered by the Australian Securities InvestmentCommission (ASIC) to repay around 120 million in customer premiums. The watchdogfound that misleading sales tactics led to customers purchasing products that they eitherdidn’t need or would never be eligible to use.

Whilst in this instance the insurance was being on-sold through authorised representative cardealers, the takeaway message to all insurers is the same : You are responsible for the conductof anyone representing your business - be they employees or agents - and you will be heldaccountable.Poor culture as a driver of misconductIn a 2015 speech, the ASIC Commissioner described culture as a key driver of conductwithin the insurance industry. He defined culture as a set of shared values or assumptionsthat reflects the underlying mindset of an organisation and shapes how staff and otherrepresentatives think and behave. He defined a positive culture as one where people are ‘doingthe right thing’ and ensuring ‘good outcomes for customers’.Misconduct can occur when there is a lack of clarity around culture. Without clarity, behaviourcan become inconsistent leading to a situation where one bad apple really can spoil the reputationof the whole barrel.ASIC maintains that effective training is key to a positive culture.How effective Onboarding supports a positive cultureIf insurers genuinely want to build trust with consumers and develop reputations for dealingethically with their customers, their onboarding programs must journey new staff andrepresentatives into the heart of their culture.83% of consumers rate areputation for ethical behaviour1as vital for securing trust

You can tell a lot about a corporate culture from strategic elements like vision, mission, valuesand purpose, business process and systems, and policies and rules. But what is most telling(but most often left out of traditional inductions) are the subtle things like how co-workerscommunicate, how they celebrate success, how individuals go the extra mile for customers, andhow staff respond and rally when a crisis hits.Best practice Onboarding in the Insurance industryOnboarding in the Insurance sector has moved beyond the traditional inductions (see ourarticle Onboarding, Turning the Tables on the Traditional Induction) to a more engaging andpositive experience. Unlike traditional orientations and inductions, onboarding supportsnew hires with a range of activities and interactions to ensure they: master key skills; meetperformance expectations; establish goals for the future; understand their compliancerequirements; identify and adapt to the culture; and, are building relationships and fitting inand working well with their colleagues and business partners.Onboarding is a powerful tool for driving cultural change. It provides greater clarity of purposeand values that drives productivity and aligns people to strategy.Onboarding checklist - how does yours compare?Feeling inspired to reinvigorate your onboarding program? Check out Cognology’s samplechecklist especially for Insurance.

Insurance Onboarding ChecklistEmployee Welcome PackPreboarding WelcomeWelcome messageConfirm start date and time, parking, dress codeStaffing announcementEmployment DocumentationEmployment contractBank account detailsFair Work Information StatementJob descriptionTax File Number DeclarationChoosing a Super Fund FormHistory Checks (role specific)Reference checksEducational qualifications (RG105, RG146)Criminal history checkAFSA Bankruptcy searchAPRA banned and disqualified persons checkDirectorship checkVisa/passport work rights validationASIC Authorised Representative CheckASIC Enforceable Undertaking Register CheckMedical checkDrug & Alcohol TestingLicencesProvisioningSystem accessKeys/security passesID photoStaff handbookSocialisation and CultureIntroductionsMeeting with SupervisorMeet the leadersIntroductions to teamIntroduction to buddy

Introductions (continued)Introduction to clientsTour of the facilitiesIntranet profileSupport MechanismsBuddy systemProfessional mentoring programPeer support networksOnline resourcesWorking n and Sign-out proceduresResources and general suppliesSocialSocial club activitiesBirthdays and anniversariesSpecial eventsIndustry events/groupsStaff morning teas and dinnersStrategic FrameworkVision and missionValuesCore philosophiesCode of conductCommunicationWeekly noticesEmailsIntranetOnline collaborationPeer networks and collaborationMeetingsStaff directory and phone numbersClient newsletterSurveys

PerformanceOnboarding PlanReview and refine onboarding plan with supervisorSet check-in datesLeadership contactPerformance ManagementClarification of expectations and responsibilitiesGoal settingProbation reviewOngoing performance managementCareer discussionDisciplinary proceduresTrainingComputer based modulesProfessional development opportunitiesExternal training/seminarsStudy supportComplianceIndustry Legislative FrameworkFederal laws (Corporations Act, Privacy Act, Insurance Act 1973, InsuranceContracts Act 1984, Financial Services Reform Act 2001)State based lawsCodes (General Insurance Code of Practice, Private Health Insurance Code ofConduct, Life Insurance Code of Practice, Insurance Brokers Code of Practice)Industry BodiesReviewRegulatorsand refine (ASIC,onboardingAPRA) plan with supervisorSet check-indatesCouncil of ervices Council (FSC)National Insurance Brokers AssociationMinimum Compliance Training (role specific)RG105 Responsible ManagerRG146 Financial Products Advice (Tier 1, Tier 2)Health and Safety FrameworkWork health and safety policyWork health and safety system

Health and safety committeeHealth and safety representativeFirst aid officersFire/emergency wardensHealth and Safety Reporting RequirementsRisk assessmentsAccident and incident reportsNon-conformance reportsNotification of communicable diseasesHazard reportingWorkers compensation claimsLocation of Emergency Facilities and EquipmentFire extinguishers, hoses and blanketsFirst aid facilities - first aid kit and roomHazard Specific Safety TrainingManual handling techniquesUse of fire equipmentPolicies and ProceduresFit and proper requirements for responsible personsOngoing professional development requirementsSmoke-free workplaceAlcohol and other drugsPrevention of workplace bullying and harassmentUse of information and communication technology (including mobile phones)Social mediaDiscrimination and sexual harassmentDiversity and inclusionWorkplace rehabilitationLeave applicationsEmployee separationEmergency plan including assembly points, exits and proceduresProvision of first aidStaff grievance proceduresDisputes resolution - customer complaints and concernsResponding to media enquiriesEmployee Assistance Program (EAP)Works mer trust indexhttps://anziif.com/ /add-on-insurance-and-flex-commission-practices/

Engage Your InsuranceWorkforce With Onboardingcontact us todayservice@cognology.com.auAustralia: 1800 062 781 International: 61 3 9001 0848www.cognology.com.au

Best practice Onboarding in the Insurance industry Onboarding in the Insurance sector has moved beyond the traditional inductions (see our article Onboarding, Turning the Tables on the Traditional Induction) to a more engaging and positive experience. Unlike traditional orientations and inductions, onboarding supports

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