Policy Renewal and Retention
Renewal cycle starting 60 days before expiration: claim history review, coverage adequacy check, premium recalculation, carrier remarketing if needed, broker recommendation, client meeting, signed renewal proposal, and policy bind handoff. Tracks retention rate and reasons for non-renewal. Built for operations teams, structured execution with approval gates and an audit trail.
For: Account Executive and Insurance Producer teams running policy renewal and retention
What this template includes
Process steps
- 1Open renewal cycle 60 days before policy expiration
- 2Claim history and loss ratio review
- 3Coverage adequacy and exposure update
- 4Renewal premium calculation from incumbent carrier
- 5Remarket to alternative carriers if premium increased above threshold
- 6Broker renewal recommendation and rationale
- 7Client renewal meeting with proposal walkthrough
- 8Checkpoint 1, Client signature on renewal proposal
- 9Handoff to issuance and log renewal outcome (retained or lost)
Why teams use this template
Renewal cycle starting 60 days before expiration: claim history review, coverage adequacy check, premium recalculation, carrier remarketing if needed, broker recommendation, client meeting, signed renewal proposal, and policy bind handoff. Tracks retention rate and reasons for non-renewal. When this work runs through inboxes and ad-hoc spreadsheets, ownership gets fuzzy and evidence gets lost. Policy Renewal and Retention gives you a 9-step process with 1 checkpoint and a built-in SLA so nothing slips between handoffs.
Built for teams led by Account Executive and Insurance Producer: every task has a named owner, every approval routes to a real role, and the run history is the audit trail your auditors actually want.
The checkpoint tasks ("Checkpoint 1, Client signature on renewal proposal") cannot be skipped, they're where the run produces evidence the next stage depends on. Overdue runs escalate automatically, and you start with structure instead of building it from scratch every time.
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