Insurance brokers: automating renewal tracking
· 1 min read · Alec Jaccard
A forgotten renewal is a lost premium, and sometimes a lost client. Here's how to automate expiry tracking at a brokerage.
For a broker, every policy expiry is a key moment: a chance to review cover, compare offers and show the client your value. But as the portfolio grows, tracking these dates in a spreadsheet becomes risky.
1. A central, up-to-date schedule
The foundation is a single list of every policy with its expiry date, notice period and responsible account manager. Ideally it's fed automatically from documents or exports received from insurers, rather than typed in by hand.
2. Alerts at the right time
What matters isn't the expiry date but the notice deadline. Alerts must go out early enough:
- an alert to the account manager several months before the notice deadline
- a reminder if no action has been logged
- a priority alert as the deadline approaches
3. Prepare the renewal offer
From the client record, comparison documents and letters can be pre-filled automatically. The account manager focuses on advice, not layout.
4. Inform the client automatically
A few weeks before expiry, a personalised email can let the client know a review of their contract is planned. Simple, professional and reassuring.
5. A portfolio dashboard
A clear view of upcoming expiries, open cases and the premiums involved helps spread the workload and anticipate busy periods, especially at year end.
Without changing tools
These automations can plug into your current tools: Excel, Outlook, your CRM. If you don't have a central tool yet, Atech can build a simple custom one for your portfolio. The free audit starts from your actual situation.