Monoline’s Automatic Renewal Functionality Saves Time and Ensures Accuracy
Renewals can often feel like a hassle for account executives (AEs), who juggle multiple policies and client relationships. That’s why Monoline’s platform includes an intuitive automatic renewal process designed to reduce administrative burden and enhance customer satisfaction. With our seamless functionality, account executives and their clients can feel confident knowing that policies are renewed accurately and on time.
How It Works: Key Reminders for a Smooth Renewal Process
45 Days Before Renewal: Proactive Notification for the AE
To help account executives stay ahead of the game, our platform sends an email notification 45 days before a policy is set to renew. This email is a friendly nudge to:
- Review the policy details.
- Confirm that the client still wants the policy to renew.
- Check if the insureds and assets listed on the policy remain accurate.
- Ensure the payment method on file is valid.
With just a click, AEs can access the policy directly from the email or navigate to it in their Monoline dashboard. If updates are needed, the platform makes it easy to:
- Add or remove insureds and assets.
- Update the payment method.
- Mark the policy as non-renew if the client decides not to continue.
If no changes are required, the AE doesn’t need to take any action, and the Monoline platform handles the rest.
30 Days Before Renewal: Client and AE Communication
To keep everyone aligned, our platform sends a second email 30 days before the renewal date. This message goes directly to the insured and copies the AE, ensuring clear communication. It’s another opportunity for both parties to:
- Verify that the policy’s details are correct.
- Make any necessary adjustments in the dashboard.
By giving the insured visibility into their policy renewal, we foster trust and transparency while empowering AEs to provide excellent service.
On Renewal Day
On the renewal date, Monoline’s platform ensures a seamless transition to the new policy period:
- The payment method on file is automatically charged.
- New policy documents are emailed directly to the insured, with a copy sent to the AE.
This ensures that all parties are on the same page and have instant access to the latest policy documents. By automating this step, Monoline simplifies the process for AEs and provides insureds with peace of mind, knowing their coverage is uninterrupted and up to date.
Renewals Tab: A Comprehensive Overview
Monoline’s online dashboard features a dedicated Renewals tab, offering AEs a clear view of where each policy is in the renewal process.
- Scheduled Renewals Column: Policies with upcoming renewal dates are displayed here, giving AEs ample time to review and make any necessary changes.
- Successful Renewals Column: Policies that renew without any issues are automatically moved here.
- Missed Renewals Column: Any policies that fail to renew are grouped here, allowing AEs to quickly identify and address them.
This system saves time for AEs and ensures continuous coverage for insureds. Additionally, Monoline’s real-time endorsements allow for mid-term policy changes with ease. These changes are often automatically approved, and when underwriting is required, responses are speedy. Should updates be needed after renewal, AEs can make those adjustments directly within the dashboard.To keep everyone informed, AEs are always copied on all communications sent to their insureds, ensuring no details are missed and fostering trust between all parties.
Why AEs and Clients Love Monoline’s Automatic Renewals
- Time-Saving Efficiency: With proactive notifications and user-friendly tools, AEs can manage renewals with minimal effort.
- Peace of Mind: The automated process ensures that nothing falls through the cracks, giving both AEs and clients confidence in the renewal process.
- Flexibility for Changes: The ability to make updates—whether it’s adjusting insureds, assets, or payment details—is simple and straightforward.
- Enhanced Client Communication: By copying the AE on client notifications, we strengthen the relationship between the insured and their trusted advisor.
A Seamless Renewal Experience
When it comes to renewing personal umbrella policies, Monoline’s automatic renewal functionality is a game-changer. By delivering timely reminders, simplifying adjustments, and ensuring policies renew accurately, we’re helping account executives focus on what they do best: building lasting relationships with their clients.Ready to experience the Monoline difference? Explore our platform today and see how our innovative features are designed to make your life easier.
