Policy Renewal Made Simple: A Best Practices Guide for Risk Managers
Managing renewals for complex insurance programs is no easy task. With multiple policies, brokers, and renewal dates, the stakes are high, but your renewal process does not have to be overwhelming.
Our free guide walks you through a proven, step-by-step process to simplify renewals, ensure comprehensive coverage, and maximize value.
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Transform How You Manage Renewals
Why you need this guide
If you have ever spent 15+ hours updating spreadsheets before a renewal deadline, waited days for a broker to send you a single policy document, or walked into a carrier meeting without knowing your true spend history, this guide is for you.
This guide equips you with proven strategies to:
Plan renewals 6 months ahead, not 60 days out
Make data-driven decisions without broker delays
Negotiate better rates with your actual spend data
Master Your Renewal Process
Stop Scrambling 60 Days Before Renewal
Plan renewals 6 months ahead with our proven timeline
Find Any Policy Detail in Seconds
No more hunting through emails or waiting on broker responses
Negotiate Renewals with Confidence
Walk into carrier meetings knowing exactly what leverage you have
Get Better Rates Without Changing Carriers
Communication strategies that actually move the needle on premiums
Dramatically Reduce Renewal Prep Time
See how risk managers automate data collection and reporting
Avoid Common Renewal Mistakes
Learn what derails renewals and how to prevent it
Risk Management Solutions
Insurance Policy Renewal FAQs
Leading risk managers begin planning 5 to 6 months before renewal. This timeline allows sufficient opportunity to assess your risk profile, gather necessary data, and develop a comprehensive renewal strategy that gives you negotiating power.
Risk management software can significantly reduce manual renewal preparation. Tools like LineSlip help centralize data across brokers and carriers, eliminating hours of spreadsheet updates and email chains.
The guide outlines a comprehensive evaluation framework using the CRR metric (Coverage, Rates, Relationships). This approach helps you assess coverage enhancements, compare year-over-year rate changes, and evaluate carrier relationship strength.
The guide covers strategic considerations for balancing self-insured retention levels, captive insurance utilization, and reinsurance opportunities. The right mix depends on your risk tolerance, cash flow, and total cost of risk (TCOR) objectives.
