Renewals🗂️

The process will start (60-90 days before renewal). The account manager will reach out via phone and then email to connect with the client. The team will conduct a thorough account review with a renewal review checklist Precall Checklist when reaching the client. Our goal is to accomplish the following:

• Follow Agency Standards

• Update client contact information.

• Identify cross-selling opportunities.

• Review and adjust coverage.

• Apply missing discounts and update risk profiles.

• Thank clients and promote referral programs.

• Utilize Retention Center statuses in Ezlynx.

• Reach out with 1 phone call, email and text; document with Labels.  

• Getting backlogged on renewal review calls and not seeking assistance 😩

• NOT conducting a thorough renewal review 🔎

• Refrain from sending cross-sell and remarket quotes via email before the review call.

• NOT answering follow-up calls 📞

• NOT utilizing the carrier website when applicable 👩🏻‍💻

• NOT obtaining signed applications or cancellation forms 📁

• Following up with the carrier too frequently or prematurely 🔔 

• NOT using the management system - Omitting notes with adequate documentation or following the checklist.✍🏻

For Agency Bill:

• NOT collecting new, renewal, or change down payment  💵

• NOT making sure the finance agreement dates are the same as the policy dates

• NOT linking the Premium finance company to the account

• NOT notifying the finance company to activate the finance agreement as well as sending a copy to the insurance company 

• Paying the carrier in a timely fashion 💳

• • Thank You: Express appreciation for their business.🤗

  • Recap & Expectations: Summarize account updates and provide timelines.

  • Personal Notes: Document personal details in the management system for future calls.

  • Referral: Request a referral and explain the program (use Referrals automation)

  • Documentation: 

    1. Attach the completed call sheet

    2. Create activities for outstanding work (quotes, follow-ups)

    3. Apply the "Protection Review Completed" label🏷️

This is the section where we outline all of the hairball, wonky things that can happen so we have a Plan B ready to go. 😱

Here are some options for the what if situations that may arise. We want to empower you with a plan rather than having to scramble. 💪

🤔 What if the policy is about to expire?

• Here's how our staff can handle these situations over the phone and in writing:

  • Over the Phone: "I wanted to let you know that your coverage is set to expire on [date]. Please contact us to avoid a lapse in coverage

  • In Writing: "Your coverage is scheduled to expire on [date]. Please contact us to avoid a lapse in coverage"

🤔 What if we cannot access the carrier's website?

• If you can't log in check out Carrier Training/Login if that doesn't work reach out to your Account Lead

🤔 What if there is no discussion title generated?

• Sometimes automation does not fire. If no discussion title is generated go ahead and make one called Renewal (LOB) Protection Review and add your notes there 

🤔 What if we have bad contact information?

• Please proceed to send the email campaign Customer Inquiries>Contact Information - Phone number 

• Send Letter StreetSmart Bad Contact Information

• Apply the Labels Protection Review Bad Contact

🤔 What if we did not receive payment or payment was not processed?

• Direct Bill

  • If payment was made late on the renewal date go to the carrier site and see if payment was received and coverage has been reinstated. Inform the insured coverage is active.

  • If no payment is made then have the Technician reach out to the insured to advise payment is not received and coverage is not active.

• Agency Bill

  • If payment was made, Reach out to Accounting to confirm payment was cleared and posted to the agency invoice and carrier is paid. Inform the insured coverage is active.

  • If no payment is made, then reassign to Technician to reach out to the insured to advise payment has not been received and coverage is not active.

• Mortgage Bill

  • If the payment was due by the Mortgagee and not received, reach out to the insured to see if the information is accurate. If it's not accurate then we need the insured or their bank to reach out to provide us with an updated mortgagee clause and loan #. They also need to inform their bank of overnight funds to the carrier. Check the directory to locate the overnight address to provide the insured or bank with this information. 

  • Once payment is received, Inform the insured coverage is active.

🤔 What if the carrier documentation was not signed?

• Alert the producer or Account Manager who wrote the policy.

🤔 What if the policy renewal we requested was not what we received?

• Alert the Account Manager or Producer - Whoever issued the policy. 

🤔 What if the customer does not reply?

• At your discretion and depending on the severity of the concern use Postal Mail

🤔 What if the contact information is wrong?

• Use Postal Mail and send the Bad contact memo. 

🤔 What if the client does not respond, how many times should I follow up?  

• Reach out with an email, text, and call and let the client know upfront; document with Labels.  Let the carrier know in writing or over the phone the fact that the insured is not responding. Close out and let the carrier know.

• At your discretion and depending on the severity of the concern use Postal Mail 

🤔 What if the carrier is unresponsive?

• Let your team lead know.

Handling the renewal protection Checklist: Talking Points

When you get asked about a renewal premium. How to respond? 

We are waiting for the renewal from the carrier. Once we receive it we will share it via the client center. If you review the renewal and want to discuss it you will be able to book an appointment with me to go over it. 

In the meantime, I’m going to go ahead and submit the coverage enhancements we spoke about and/or the new changes for this upcoming year.

Script to Decline A Remarket (Customer)

• • Property

    • Coastal

    • Replacement Cost - Home going from Old to New

    • Reinsurance rates going up 

    • Inflation and carriers are increasing expecting that the value will go higher

    • Older Property Type/Electrical/Roof/Plumbing - Due to the type of property you have, you will likely have to remain with your current carrier. There are only a handful of carriers specializing in your property type. Many do not have the same coverage. Let’s review your coverages and make sure we have what you are happy with.

    • Keep in mind when moving coverage the client will be exposed to a new inspection.  The carrier will send someone out to re-evaluate their roof, plumbing, electrical is that something the client is willing to risk? Keep in mind the carrier has 30 days to inspect a home and get off a risk that leaves you and your client in an unstable situation. Keep in mind the discount. Do they get decreasing deductibles? See what the current carrier can offer. If the client is confident in their home and we can provide a better option then a remarket would be an OK fit. 

    • Claims/Open claim - Since you have an active claim with the carrier, I recommend we stay where you are until the claim is finalized. As an active client, they give you the preferred treatment to finalize the claim.

    • Monoline - Have you heard of the multi-policy discount? Carriers give the best rates when you combine everything. Let me get some information so we can investigate this discount.

    • Rate adjustment below standard - On average, most insurance rates are climbing by X, and yours only went up Y. You are below the state average, so let’s review your discount options. 

    • Don’t want to keep the client - Looking at your policy, this is the best opportunity we can offer you.

Liability

• • • Pets - I know that pets are part of your family, however, due to the history of certain breeds, carriers have restrictions. Our best strategy is to review your current carrier's discounts.

    • Age of the driver - You have been with this carrier for X years and have built up loyalty with them. In the event of an accident, I would hate to see you have any issues. Let’s review your discounts.

    • Driving history - It looks like you have had x this year. Based on that, the carrier has increased your premiums. The best strategy is to stay where you are, and in X years the violations will fall off. However, let’s review the discounts to see what we can do.

    • Changes in the business activities - Since your business is now doing X, there are only a few carriers that may accept your policy. Often the coverage they offer is not as good as what you have now. Let’s review your discounts.

    • Claims/Open claim - Since you have an active claim with the carrier, I recommend we stay where you are until the claim is finalized. As an active client, they give you the preferred treatment to finalize the claim.

    • Minimum Premium - Taking a look at your policy, I see that you are at a competitive rate. However, let’s review your discounts.

    • Monoline - Have you heard of the multi-policy discount? Carriers give the best rates when you combine everything. Let me get some information so we can investigate this discount.

    • Audits - Each carrier has a different rating exposure. If the insured has been with the company for a few years and they are comfortable with the audit or inspection process it may be better to leave it where it is. Every carrier has a different audit process and causes the client an issue for the next term if they move!

    • Rate adjustment below standard - On average, most insurance rates are climbing by X, and yours only went up Y. You are below the state average, so let’s review your discount options. 

    • Don’t want to keep the client - Looking at your policy, this is the best opportunity we can offer you.