A renewal retention checklist for P&C agencies
· 5 min read
Most lost customers leave quietly at renewal, often after a rate increase nobody talked to them about. A simple routine catches most of them before they go.
45 to 60 days before renewal
- Pull the list of policies renewing in the next two months.
- Note the renewal premium next to the current one and the percentage change.
- Flag every increase above the threshold your agency sets.
- Check for open payment problems on the account.
Call before the renewal notice does the talking
For flagged renewals, reach out before the customer opens the carrier's notice. Explain what changed, whether it was a rate change, a claim, a new driver or a lost discount, and what you can do about it. A customer who hears about an increase from you first is far easier to keep than one who finds it on their own.
Review before you re-shop
- Are all the discounts they qualify for applied?
- Do the coverages, deductibles and vehicles still match their situation?
- Is there another line they should have with you?
If the increase is still large after the review, re-quote with your other carriers and present the options side by side.
Handle payment problems first
A pending cancellation for non-payment is the most urgent item on the list, because there is a date when the coverage ends. Call those customers before anything else.
Record every outcome
Whether the customer renewed, moved carriers with you, or left, note it on their record with the reason. Over a few months, the reasons tell you which carriers and which kinds of increases cost you the most customers.
Insurance CRM pulls policies from your carriers and shows each renewal's new premium, current premium and percentage change, with payment problems and pending cancellations pinned to the top.