State of Insurance Renewals Annual Report
Regardless of the size of your agency or brokerage or the size and type of your clients, the application and renewal process is time-consuming and cumbersome. While most agencies and brokerages would agree that the process is riddled with inefficiencies, the insurance industry has historically lacked real benchmark data for these agencies and brokerages to see how they can improve.
To address this issue, agencies and brokerages were surveyed about their entire renewal process — from delivering renewal submission packets to their clients to receiving signed and completed applications ready to go to market. Read this report to compare your own renewal process with the industry benchmark, find areas to improve your application and renewal process, and learn how you can increase efficiency with technology.
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