The definitive guide to commercial insurance renewal
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Achieving better communication and sharing information
Another serious challenge in respect of renewal data collection, is effectively communicating and sharing
information with everyone involved in your company's renewal.
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A RMIS answers these challenges in a number of ways:
• Email workflows
To effectively communicate with brokers and internal staff, a RMIS can be set up to trigger predefined emails,
containing renewal information, when a specific event happens or an action is completed.
• Standardised questions and processes
By housing renewal data and questionnaires in one central system, any changes to questions or processes can be
quickly and effectively communicated from within the system.
• Flexible data outputs and reports
It's important that data can be outputted quickly and easily into a number of different formats. For example data
exported to spreadsheets will be necessary for many underwriters' pricing models, whereas charts and reports
will be needed for the broker and the market submission. Most RMIS systems will provide a full range of in-built
reporting options as well as multiple output formats, including pdf, excel and xml.
By housing renewal data
and questionnaires in
one central system, any
changes to questions
or processes can be
quickly and effectively
communicated from
within the system.
