How do insurance renewals work?
Each policy has an effective date and an expiration date. When the expiration date passes, the certificate on file no longer proves active coverage, and the partner is out of compliance until a renewed certificate arrives.
Why are renewals so important?
Expiration dates are the single most common source of non-compliance. A partner who was fully compliant last quarter can quietly fall out of compliance the moment their policy turns over, and nothing on the old certificate will tell you.
How can do insurance renewals well?
The goal is to request renewals before the expiration date, not after, so there is never a gap. Automated reminders and a clear view of upcoming expirations keeprenewals from slipping through.
Related resource
Ready to put this into practice? See 7 strategies formanaging insurance renewals.
