Did you know that policy renewals is where the real money is at?

Underwriter Insider Tips

Hot tips to ensure you succeed as a broker.

Policy Renewal Tips:

It is now time to renew your policy and you are happy with your chosen insurance carrier and want to continue working with them.

 

Here are 3 steps to prepare for a smooth renewal submission process:

  • Step 1: Gather the required documents

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  • Before submitting the required paperwork for your renewal, it is important to ensure you have all the correct information.

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  • A tip from the underwriting team is to create a checklist of all the paperwork needed. Basic information required:

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  • -Physical address for all locations with employees
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  • -Updated annual payroll by class code and state

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  • -Five years of loss runs reports and any other supplemental information. 

  • Step 2: Create your submission

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  • When drafting your renewal application it is important to be as detailed as possible. Include a detailed description of the insured's operations, including any changes made in the last policy period.

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  • Thoroughly define the insured’s safety and loss prevention efforts along with any claims and action taken to mitigate future losses. 

Greenwood General Insurance Agency is staffed with seasoned Underwriters ready to assist you in your risk submissions to ensure all the necessary information is provided. The Underwriters at Greenwood specialize in providing our brokers with everything they need to ensure their success.

  • Step 3: Set time for preparation

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  • There are several tools out there to help prepare brokers/agents with analyzing and sorting all the data they receive from the insured.

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  • You can utilize risk management tools and loss control services from your carrier which will make it easier to analyze new data and changes to the company.

Here at Greenwood, we focus on fast communication and easy applications, which is what makes our brokers so successful. Get started by booking a free demo with our lead Underwriter.

Greenwood General Insurance Agency

Exclusive General Liability programs specifically designed for contractors and artisans

  • Multiple “A” Rated Carriers ; Non-Admitted
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  • 50+ Classifications including General Contractors
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  • Online or Self Rater (2 minute process)
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  • $500 Minimum Premium on Most Classes
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  • No Prior and New Venture OK
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  • Flexible Underwriting

Are you ready to start writing more profitable business? Book a free demo with us to learn about our fast and easy online quoting system