A personal lines renewal remarketing process
Rate increases are when clients shop. The agency that calls first usually keeps them.
A good personal lines remarketing process starts 45 to 60 days before renewal, flags renewals with increases above a set threshold, gathers current drivers, vehicles and property details, quotes with other appointed carriers, and calls the client with a recommendation before the renewal bill arrives. Prep can be done by back-office staff; quoting and the client call need a licensed agent.
The timeline
| Days before renewal | Step | Who |
|---|---|---|
| 60 | Run the renewal report, flag increases | Back office |
| 50 | Gather current details and prior claims | Back office |
| 45 | Quote with other appointed carriers | Licensed |
| 35 | Build the comparison | Back office or licensed |
| 30 | Call the client with a recommendation | Licensed |
| 15 | Bind any change, confirm in writing | Licensed |
Which renewals to shop
- Increases above your threshold.
- Clients who've asked for a review.
- Accounts with a recent claim or life change.
- Your largest households.
What to gather first
- Drivers, dates of birth and violations
- Vehicles, usage and garaging
- Home updates: roof, plumbing, electrical, alarms
- Claims history
- Current coverage and the renewal offer
The client call
- Say what changed and why, in plain words.
- Show the options side by side.
- Recommend one and say why.
- Confirm coverage still fits their life.
- Note the decision in the AMS.
Where Humai fits
Humai's back-office professionals handle the report, the data gathering and the comparison. U.S.-licensed agents do the quoting and the client call, in your AMS and under your name.
Questions agency owners ask
When should personal lines renewals be remarketed?
Starting 45 to 60 days before the effective date gives time to quote and reach the client before they see the renewal bill.
Which renewals should be remarketed?
Most agencies set a rule, such as an increase above a certain percentage or premium above a certain amount. Clients who've asked for a review should always be included.
What information is needed to remarket a home and auto account?
Current drivers and violations, vehicles and usage, property updates such as roof age, prior claims, current coverage and the renewal offer.
Should I call the client if I can't find a better price?
Yes. Explaining why the rate went up and confirming the coverage still fits keeps clients from shopping elsewhere.
Can remarketing be outsourced?
The prep can go to back-office help. Quoting with clients and making recommendations needs a licensed person, which can be on your staff or a licensed agent working in your AMS under your name.
Sources
Licensing rules differ by state. This article is general information, not legal advice. Check with your state's department of insurance.