Why Insurance Brokers Must Strengthen Their Renewal Process

The Insurance Brokers Code Compliance Committee’s 2025 Annual Data Report delivers a clear message to the broking profession:

Renewals remain the single largest area of broker non-compliance.

According to the report, renewal-related breaches accounted for almost half of all Code breaches reported during the year.

For many brokerage leaders this should serve as both a warning and an opportunity.

Renewals Are More Than Administration

Too often renewals are treated as a workflow task.

A policy is approaching expiry.

Documentation is prepared.

Terms are obtained.

The client is contacted.

The policy is renewed.

While these activities are important, they miss the broader purpose of the renewal process.

A renewal should be viewed as a strategic client review

It is an opportunity to:

Reassess risk exposures

Review changes in the client’s business

Identify coverage gaps

Explore alternative solutions

Strengthen relationships

Reinforce the broker’s value

When renewals become transactional, opportunities are missed.

Why Renewal Failures Occur

The report identified several common causes of renewal breaches:

Processes not being followed

Manual errors

System limitations

Staffing shortages

Late client engagement

These are not product problems.

They are business process problems.

Most renewal failures occur because firms rely on individuals rather than systems.

When workloads increase, staff leave, or priorities shift, important renewal activities are delayed or missed.

The Growth Connection

In my work with insurance brokerage firms through the Vertical Acceleration Program, I often remind leaders that growth begins with retention.

Every client retained is a client that does not need to be replaced.

Every renewal conversation creates opportunities to:

Expand relationships

Introduce additional services• Generate referrals

Increase account profitability

A disciplined renewal process strengthens both client outcomes and business performance.

What Strong Renewal Processes Look Like

Leading brokerages typically:

Begin renewal planning well in advance.

Use documented workflows and accountability systems.

Conduct structured client review conversations.

Monitor renewal activity through dashboards and management reporting.

Train staff on communication standards and client engagement.

Build contingency plans for staff absences and workload peaks.

Most importantly, they treat renewals as a client experience rather than an administrative event.

Questions Every Brokerage Leader Should Ask

How early are we engaging clients before renewal?

Are our renewal workflows documented and consistently followed?

Where are the bottlenecks in our process?

How often do we review renewal performance?

What percentage of our renewals generate additional opportunities?

Could we confidently demonstrate compliance if audited?

Final Thoughts

The IBCCC report highlights an important reality.

Renewal excellence is no longer simply about efficiency.

It is about compliance, client outcomes, retention and growth.

Brokerages that strengthen their renewal processes will not only reduce risk. They will create better client experiences, improve retention rates and generate stronger organic growth.

The firms that win in the years ahead will be those that recognise a simple truth:

The easiest business to win is often the business you already have.