How can you ensure that a customer's insurance policy is up-to-date?

La révision d’une police d’assurance est beaucoup plus complexe que cela ne peut paraître. En effet, il faut faire ce travail de concert avec son agent d’assurance, pour combiner l’expertise de l’homme de l’art et de l’assureur. Le dirigeant d’entreprise a une connaissance pointue de la valorisation, par exemple, une connaissance pointue de la valorisation de son stock, de son chiffre d’affaires, de ses véhicules … Le rôle de l’assureur est de sensibiliser et de travailler, en s’appuyant sur son expérience lors de sinistres, sur les capitaux immobiliers, les recours des voisins, l’environnement ou le cyber. Pour les capitaux importants ou les risques industriels, l’appui d’un cabinet d’expertise préalable est particulièrement judicieux.

Life insurers often have a longer-term view of the policyholder's coverage and gaps. Some even offer planning support through their agents or affiliates.

This is true. You also have to take note of the new properties you purchase during the policy period. Take note of the improvements you make to your property. Also take note the price increases in the properties as you also take note of depreciation of the values of insured items.

Regularly engaging with policyholders helps insurance intermediaries and underwriters identify gaps in coverage and ensures a delightful customer experience throughout the customer journey.

En établissant un fichier client avec les informations telles que les noms, prénoms, adresses, numéros de téléphone, les dates d'effet et d'échéances, les montants des couvertures, etc. Ensuite, faire le suivi régulier chaque mois pour vérifier si les polices d'assurance sont à jour, valides et répondent aux besoins des clients.

Yes. I agree. Again when you begin to experience a new risk like flood, theft or any other peril kindly bring it to the attention of your insurers. You can also inform your insurers about changes in your neighbourhood if you think they are material to the risk you have insured

One way to do it would be reviewing the proposal form. Note what details were provided to the insurer and turn them into meaningful questions. Answer these at every renewal period (ideally a year). e.g. 1. If provided details of your employer, employers address etc. Turn it into a simple question such as, "Have you changed your job in last one year?" 2. If you provided details of related to your medical history such as medical conditions or surgeries etc. Turn it into a simple question such as, "Did you face any major medical issues in last one year?" You would have to do this as a onetime activity to use it repeatedly over years. This will ensure you never you never miss on passing any important information to the insurer.

Always take note of your insuring clause, your warranties, the conditions precedent to the loss, conditions when a loss occurs and conditions precedent to liability. You should always take note of your exclusions. These are the events or perils that are not covered under your policy.

Reviewing and Auditing customers business on every renewal or when major changes are made to the business. Also pay critical attention to the sum insures, deductibles, exclusions and exchange rate.

It's very vital to always seek advice and have the best coverage 👏. Insurance could be difficult to understand. Always be sure you have the right information from the right source. ✅️

It is usually tough to find unbiased advisers unless you pay the commissions to them. Generative AI has made it easier to compare complex products with different coverages, premium price points and even exclusions, but the bias still exists.

Most insurance companies give discounts to activities of the insured that makes the risk a better one. For instance, having hydrants, having high pallets to stock items on, etc. Disclose these to your insurers and see if there are any discounts available. Good living habit is also very important when it comes to life assurance policies

To ensure customers' insurance policies are up-to-date, regularly review policy details, communicate with customers about changes in their circumstances or coverage needs, and provide proactive reminders for policy renewals. Implement automated systems for policy monitoring and send alerts for policy modifications or updates. Encourage customers to notify the insurance provider promptly of any changes in their situation that may affect their coverage requirements. Additionally, offer regular policy reviews to assess adequacy and recommend adjustments as needed to keep policies aligned with customers' evolving needs and risk profiles.

After purchasing insurance policies, we often overlook updates introduced by insurance companies. In the age of digitization and evolving technology trends, new experiences emerge, bringing with them a host of discounts and incentives. Failing to review these introductions could result in missing out on potential savings. Regularly reviewing insurance policies allows customers to stay informed about new offerings, ensuring they don't miss out on valuable discounts and incentives. By staying proactive, policyholders can enjoy additional benefits and make the most of their insurance coverage.

There are opportunities to build zero knowledge-based architectures for insurers to ensure all stakeholders are incentivised correctly to update the necessary information into the respective systems.

Après la signature du contrat, le travail d'un assureur est à moitié accompli. Le vrai travail commence par mettre en place un système de suivi des polices d'assurance. Par exemple, en automobile, après chaque souscription, je crée un tableau sur Excel avec les noms des assurés, leurs adresses, leurs numéros de téléphone, les numéros de police, les dates d'échanges par rapport à la période de couverture et les primes d'assurance. Chaque début d'un nouveau mois, je consulte mon tableau et je répertorie toutes les assurances automobiles qui arrivent à échéance dans le nouveau mois. Ensuite, j'appelle chaque assuré avec un décalage d'une semaine pour les informer de l'échéance de leurs assurances et se préparer pour le renouvellement.