Why doesn't Pathpoint auto-renew?
Auto-renewal is a standard practice in the admitted insurance market, where policies are renewed automatically unless the policyholder specifies otherwise. However, excess and surplus (E&S) insurers typically do not engage in this practice, though there are some exceptions.
Although auto-renewal acts as a protective measure for policyholders and agents, it can sometimes be a drawback. As businesses evolve annually, agents must assess existing coverage gaps. Moreover, agents risk losing chances to secure more affordable or superior coverage for their clients. Because of this, agents can fail to retain clients.
Our method is unique as it does not rely on the previous year's data to generate quotes. This ensures a consistent and swift quoting process that minimizes the need for extensive communication with the agent. Additionally, it enables agents to provide competitive quotes, thereby retaining business.
Related Articles
How does Pathpoint handle renewals?
How do I quote business with Pathpoint?
How will I be notified if my insured's policy is being canceled?
The insured canceled their policy. How can they expect their refund and when will they receive it? (pathpoint.com)