Policy renewal management

Problem

Renewal workflows are reactive: agents get a list of upcoming renewals and manually call or email each policyholder. High-value accounts get attention; the long tail of smaller policies lapses silently, costing carriers 15–20% in avoidable churn.

Solution

The AI agent identifies all policies approaching renewal 60–90 days out, scores retention risk based on claims history, payment behavior, and market pricing, then generates personalized renewal offers. Low-risk renewals are auto-renewed with updated pricing; at-risk accounts get proactive outreach with tailored retention offers.

Benefits

• 15–20% reduction in policy lapse rates
• Personalized renewal offers at scale
• Agents focus on high-risk retention and upselling
• Consistent renewal communication across the book

How to get started

1. 1

   Connect policy and CRM systems

   Integrate the policy admin system and CRM so the agent can see renewal dates, coverage details, claims history, and communication history for every policyholder.

2. 2

   Configure renewal workflows

   Define auto-renewal criteria, retention risk thresholds, and communication templates. Set timing for renewal notices (90, 60, 30 days) and escalation rules for at-risk accounts.

3. 3

   Launch and track retention

   Enable for a segment of the book. Monitor retention rates, lapse rates, and average premium change at renewal. Compare to the control group to measure AI impact.

Recommended tools

Guidewire, Applied Epic, HawkSoft. See the full list on the AI Insurance Agent pillar page.