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3 hacks to gather renewal data more effectively

For those in risk management, great data is the equivalent of gold dust. You can have a fantastic team, good workflows and insightful hunches, but rich data is the element that will propel you forward. Any kind of risk management system must be designed to gather quality data.

Topics: renewal data collection insurance renewal commercial insurance renewal

Are you getting the best results from your insurance renewal strategy?

The process of developing an insurance renewal strategy can be a bit like a rowing race. If you have clunky old oars, your teammates aren’t boaters and the hull isn’t structurally sound then you might still get to the finish line, but ultimately, you won’t really be competitive.

Topics: insurance renewal renewal strategy

3 signs that your technology setup is hindering your renewal process

`There is no escaping the fact that the insurance renewal process is complex and involved. But have you ever wondered whether it also needs to be quite as time-consuming and labor intensive as it currently is?

Topics: insurance renewal

The Benefits of Using RiskConsole for Commercial Insurance Renewal

Using a Risk Management Information System (RMIS) in the commercial insurance renewal process can reduce the burden of creating endless spreadsheets, managing the submission of data on time and ensuring that the correct level of data is provided in the first instance. Being able to automate email workflows, design industry standard questionnaires and collate and coordinate detailed data from multiple locations not only benefits Risk/Insurance Managers but everyone in the commercial insurance renewal process. Brokers, Actuaries and Underwriters, and ultimately the organization, benefit from having a coordinated approach.

Topics: risk management RMIS insurance renewal commercial insurance commercial insurance renewal RiskConsole

Who’s Involved In Your Commercial Insurance Renewal?

Understanding who's involved in your commercial renewal insurance process and how each party uses your data will help you gather and consolidate the correct data from the beginning. In addition to the Risk/Insurance Managers, there are three other key roles that each have an important part in the commercial insurance renewal process.

Topics: insurance renewal commercial insurance renewal

7 Key Benefits of Using An RMIS For Your Commercial Insurance Renewal

When undertaking a commercial insurance renewal process, collating and analyzing the large volume of detailed data required can be a daunting prospect, especially if that data is recorded in spreadsheets or on paper. Wouldn’t it make good business sense to streamline that process and reduce the burden on internal resources?

Topics: RMIS insurance renewal commercial insurance commercial insurance renewal

What Information Is Needed During the Commercial Insurance Renewal?

The devil is in the details and when it comes to renewing your commercial insurance a lack of detail is very likely to result in a higher premium.

Topics: RMIS insurance renewal commercial insurance renewal

Commercial Insurance Renewal Timetable

Collecting, consolidating and manually checking large amounts of data for a commercial insurance renewal can be a very daunting task. This business critical process, which can involve gathering data from different locations across the globe, requires a clear strategy to ensure that the correct information is collected in time to be verified and analyzed before being submitted for renewal. 

Topics: risk management RMIS insurance renewal risk management information system commercial insurance renewal