THE ULTIMATE GUIDE TO RENEWALS: Leave Your Spreadsheets Behind 4
THE INSURANCE RENEWAL TIMETABLE
Task
Duration
(days)
Month 1 Month 1 Month 1 Month 1 Month 1 Month 2 Month 2 Month 2 Month 2 Month 3 Month 3 Month 3 Month 3 Month 4 Month 4 Month 4 Month 4 Month 4 Month 5 Month 5 Month 5 Month 5 Month 6 Month 6 Month 6 Month 6 Month 6 Month 7 Month 7 Month 7 Month 7 Month 8 Month 8 Month 8 Month 8 Month 8 Month 9 Month 9 Month 9 Month 9 Month 10 Month 10 Month 10 Month 10 Month 11 Month 11 Month 11 Month 11 Month 12 Month 12 Month 12 Month 12
Task
Duration
(days)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52
A
6
B
Enter #:
C
50
D
50
E
45
F
7
G
17
H
1
I
30
J
364
A. Client renewal strategy meeting & report generation
B. Client consolidates and verifies renewal data
C. Broker obtains risk information from client
D. Broker verifies and analyses renewal data and updates insurer documentation
E. Insurance marketing and presentations (including underwriting risks)
F. Renewal meeting
G. Bind / finalize insurances and confirm to client
H. Renewal date
I. Post placement renewal activities
J. Ongoing communication
As much as 75 days of the renewal process will be spent collecting data and producing reports using spreadsheets.
