Business Management

Introduction

This premier accounting and business management firm, with 300+ employees and decades of experience, focuses on business management and tax, accounting, and payroll compliance audits. They maintain one of the largest business management practices in the country, representing high-profile clients across the entertainment industry, including artists, producers, athletes, executives, and high-net-worth individuals, as well as entrepreneurs.

Searching For Improvement

Previously, this business managed its insurance policy renewals using a combination of productivity and database tools. When the company upgraded its system, it was informed that the new version would no longer support the legacy database. As a result, the organization’s insurance manager was tasked with identifying an alternative solution.

“After a thorough search, it was clear that RenewalTracker was the best option for managing our insurance renewals moving forward,” the insurance manager said. “It had exactly the features we were looking for and allowed us to convert our data from the previous tool we were using.”

Once the conversion was complete, the team was able to begin using RenewalTracker quickly. They soon observed improvements compared to their previous process.

Supporting Our Transition

As effective as the platform’s features are, the insurance manager emphasized that the relationship with the provider’s support team was equally important.

"RenewalTracker's team offers excellent customer service, and our account representative and colleagues were very helpful in transitioning us from our old system,” they said. “The system is easy to use, reliable, and does everything we need it to. I highly recommend it.”

Enhancing Underwriting and Policy Management

“Before, the process for managing renewals was very rudimentary,” the insurance manager said. “The system provides greater flexibility in how we sort information and allows us to look ahead, enabling a more proactive approach.”

The organization now tracks not only renewals, but also associated documentation. Managing these processes within RenewalTracker instead of spreadsheets and database tools has made workflows more streamlined.

“With the new system, we can track the status of each renewal, see when invoices were issued, and monitor follow-up actions,” the manager said. “We also attach supporting documentation, giving us a more complete view of each record.”

Another advantage is improved handling of accounts with multiple policies. The team can organize renewals by client and then drill down into details for individual policies.

Ensuring Renewals Remain Current

“The platform provides much greater flexibility than our previous system, particularly when a client has multiple policies,” the manager said. “It allows us to share complete and timely information with stakeholders ahead of renewal deadlines, supporting better underwriting and policy management.”

Maintaining current renewals is critical, and the team reports significant improvement since implementing the new system.

“Now, policy renewals are far less likely to lapse,” they said. “We can also forecast and project upcoming renewals more accurately, which benefits both our staff and our clients.”