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Insurance Renewal Collection

Insurance renewal collection is a time-consuming, labor-intensive task. The major problem for most risk managers is the administrative burden of assembling spreadsheets and monitoring the collection status. Additionally, information accuracy is critical. Maintaining too much insurance is wasteful, having too little may result in costly penalties and absence of sufficient insurance coverage could be catastrophic.

Renewal-Mngt-Dashboard on top rated RMIS for safe, efficient and real-time risk management

Efficiently Manage Insurance Collections

Guided “wizard-style” collection process Prior year value and data validation during collection process
Build questionnaires to support any type of insurance renewal
Instantly monitor collection progress

Benefits

  • Shorten the time it takes to collect renewal data
  • Remove much of the administrative burden of collecting responses
  • Provide executive management with detailed reports based on accurate information needed to make sound business decisions
  • Improve negotiations with underwriters and brokers
  • Reduce the potential for data aggregation errors
  • Spend more time on reviewing the data instead of collecting it

More Resources

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