Renewal Process
Provided below is an overview of the KAVA CRM Renewal Process. Follow the steps below and
tick the corresponding checkboxes in CRM when you are finished with each step.
1. Review Client's Current Cover
Review the client's current policy and determine if there are any issues that should be raised with the client during the Declaration stage.
When completed, ✅ the Client Cover Reviewed checkbox or specify as 'N/A'.
2. Send Declaration/Proposal to Client
Send the renewal declaration or proposal form to the client for completion. Please highlight to the client any specific information that is missing and may be required for this year's renewal.
When completed, ✅ the Declaration/Proposal Sent to Client checkbox or specify as 'N/A'.
3. Obtain Declaration/Proposal from Client
Please await for the client to return the completed renewal declaration/proposal form. If not returned within 5 days, please follow up with the client.
When completed, ✅ the Declaration/Proposal Received from Client checkbox or specify as 'N/A'.
4. Complete Risk Assessment
Determine the client's industry/occupation and decide which risk covers are appropriate for the client.
When completed, ✅ the Risk Analysis Completed checkbox or specify as 'N/A'.
If you wish to propose cover for a risk not already insured, please create a new Required Cover record relating to the client and follow the process within that record.
5. Send Request for Quotes to Insurers
Please request from the incumbent insurer and any other relevant insurers a quote for the required product.
When completed, ✅ the Request for Quotes Sent to Insurers checkbox or specify as 'N/A'.
6. Obtain Quotes from Insurers
Please wait for the insurers to submit their quotes for the required product.
Once received, please enter the quote details in to the Financials section. Income will be automatically calculated as the sum of the Broker Fee and Commission.
When completed, ✅ the Quotes Obtained from Insurers checkbox or specify as 'N/A'.
7. Send Quotes to Client
Once all the insurers have submitted their quotes for the required product, please send the quotes to the client.
When completed, ✅ the Quotes Sent to Client checkbox or specify as 'N/A'.
8. Confirm Cover
Please await confirmation from the client that they wish to proceed with cover for the required product. Please follow-up with the client if you have not heard back from them within a reasonable timeframe.
Also confirm cover with the insurer.
When completed, ✅ the Cover Confirmed checkbox or specify as 'N/A'.
9. Process Invoice
Now that cover has been confirmed, please process the invoice in the policy system and send the relevant documents to the client.
When completed, ✅ the Invoice Processed checkbox or specify as 'N/A'.
10. Send Closing to Client
Please send the closing details to the client.
When completed, ✅ the Closing Sent checkbox or specify as 'N/A'.
11. Arrange Premium Funded
If required, please arrange for premium funding for the policy.
When completed, ✅ the Premium Funded checkbox or specify as 'N/A'.
12. Send CoC to Client
13. Confirm as Won or Lost
Please send the Certificate of Currency to the client for their policy.
When completed, ✅ the CoC Sent to Client checkbox or specify as 'N/A'.
Please specify if you won (Renewal Complete) or lost (Not Renewing) the client's business for this renewal. If lost, you will be prompted to enter a reason for the loss.
This completes the Renewal Process. The Renewal Complete/Not Renewing Date will be updated automatically.
If you wish to follow up with this client in the future regarding this product, please specify a date in the Contact in Future field to the right. This will automatically create a reminder Task for that date.