OPTIMIZING THE RENEWAL PROCESS WITH TECHNOLOGY 3
1. Do you find yourself trawling through data and
spreadsheet after spreadsheet, rather than
managing risks?
2. Are you unsure of all your company's exposures
from across your operations?
3. Do you find the insurance team's time being
squeezed during the renewal process – time
spent collecting, checking and formatting data as
well as the normal day-to-day tasks?
4. Do you put the burden of renewal onto your broker
or pass the problem onto the underwriter?
5. Is it difficult to get hold of previous year's renewal
data?
6. Are there gaps in the data you're submitting to
your brokers, eg missing values or business units
not supplying data?
7. Is there a lot of toing and froing between business
units to check data is correct?
8. Is your renewal being tied up at the last minute/
day?
9. Do you suffer from a poor submission and
minimal time for your broker to place your risks in
the market?
10. Are you being asked more questions after you've
submitted your presentation to the underwriters?
ARE YOU CONCERNED OVER THE QUALITY OF YOUR SUBMISSION DATA?
Answer the questions below, to see if you should be investing in a RMIS for your annual renewal process.
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
☐ YES ☐ NO
If you answered 'yes' to most of
the questions, carry on reading
as a RMIS can help you.
