End-to-end renewal process from identification through market review, recommendation, and binding. Version 1.0.
Questions or feedback: Roshan Khozouei (roshan@tenzi.ai)
The broker identifies an upcoming renewal, reviews the current policy and claims history, and prepares the file for client outreach.
Flag the renewal from the broker management system diary or report.
Check the 14-day pricing rule deadline and informed consent requirements. These deadlines drive the renewal timeline — work backward from here.
Retrieve the existing policy details for review.
Check for any claims during the current period that may affect the renewal.
Review notes from the current period — complaints, coverage concerns, service issues.
Assemble everything needed for client outreach and market review.
The broker contacts the client to discuss the renewal, gathers any updates to their circumstances, and documents changes. Often involves chasing for responses and documents.
Reach out to start the renewal conversation.
Client engages with the renewal discussion — or doesn't.
Has the broker been able to have the renewal conversation?
Follow up to schedule or complete the renewal conversation.
Business changes, assets, risks, turnover — anything that's changed since last year.
Probe for new risks, growth, changes in operations, or emerging concerns.
Send the full renewal bundle to client: declaration forms (one per policy type), renewal notices, project spreadsheets (if applicable), compliance documents (FSG, target market determinations, informed consent), plus requests for supporting documents (financials, certificates). Typically sent together, though different policy types may require separate declarations.
Client fills out declaration forms. Back-and-forth on incomplete or missing fields is common — often the biggest time sink in the renewal process.
Check all declarations are fully completed with no missing fields.
Follow up on missing fields, incomplete forms. Insurers may also come back with questions 5+ days later. Multiple rounds common.
Client sends requested documents.
Verify everything needed has come in.
Follow up on outstanding items.
Record all updates from the renewal discussion.
Update the renewal file with all gathered changes and documents.
The broker decides whether to renew with the existing insurer or test the market. If going to market, they prepare a submission, send to insurers, and chase quotes. Multiple rounds of follow-up are common.
Assess whether the existing insurer is still competitive and willing to renew. For declaration-based policies, submit declarations to current insurer and 2-3+ alternatives. Some go via portal (SCTP, Sunrise), most are manual email.
Most brokers run both paths — get the incumbent's renewal terms AND test the market simultaneously. The decision about which to recommend happens in Phase 4.
Compile the client's updated details into a market submission.
Send the submission to selected insurers.
Confirmation that the submission has been received.
Confirm all targeted insurers have acknowledged.
Follow up with insurers who haven't confirmed receipt.
Insurers come back with questions or requests for more detail.
Answer insurer queries, going back to the client if needed.
Insurers return with renewal pricing and terms.
Check whether all targeted insurers have responded with quotes.
Chase outstanding quotes.
Record all received quotes in the file.
Resolve anything unclear in the quotes before presenting to the client.
The broker compares options, prepares a recommendation, and presents it to the client. Answers questions and secures a decision. Chasing for a decision is common as expiry approaches.
Premium, coverage, excesses, sub-limits — side-by-side comparison.
Identify what's changed from the current policy and what's missing across options.
Build the recommendation document for the client.
Walk the client through the options and recommendation.
Highlight what's different — pricing, coverage, exclusions, terms.
Client seeks to understand the options and changes.
Answer questions and negotiate with insurers if needed.
Client selects their preferred renewal option.
Has the client committed to an option?
Follow up — urgency increases as expiry approaches.
Record the chosen option and any conditions.
The broker instructs the insurer to bind, receives and reviews policy documents, issues to the client, arranges payment, and updates records. The file is closed and next year's renewal is scheduled.
Formally request the insurer to bind the renewed policy.
Insurer confirms the renewal is bound.
Renewed certificate, schedule, policy wording, and any endorsements.
Confirm the full document set has arrived.
Chase outstanding documents.
Documents in hand, ready for review.
Check the renewed policy matches what was agreed — names, coverage, limits, excess, endorsements.
Does the renewed policy match what was agreed?
Flag errors and request corrected documents.
Insurer re-issues corrected documents. Returns to Step 5.7 for review.
Send the verified renewed policy documents to the client.
Send the renewal invoice and set up premium funding if applicable. Declaration-based policies may generate two invoices per policy type: adjustment invoice (actuals vs prior estimates) and renewal invoice (new estimates). Premium funding (monthly payments) gets broker paid immediately — upfront payments require chasing.
Client makes payment or premium funding is activated.
Verify payment has been received.
Follow up on the outstanding invoice.
Certificate can only be issued once premium is paid. Compliance requirement — policy is not fully bound until paid.
Update the client record with renewed policy details.
Complete filing — renewed policy, correspondence, invoices.
Set the diary for next year's renewal — typically 60–90 days before expiry. This is set at binding time, not deferred.
Proactive check-ins between renewals to catch business changes, new exposures, and upsell opportunities. Most brokers skip this phase due to time constraints — it's where revenue is left on the table.
Set reminders for periodic client check-ins between renewals. Without this, business changes go undetected until the next renewal.
Contact client to review any changes — new projects, revenue growth, additional assets, changed risk profile. Often reveals uninsured exposures.
Has anything changed that needs policy endorsement or additional cover before the next renewal?
Process the policy change with the insurer. Update records and advise client.
The latest AR movement dashboard and any new resources.