Remarketing

Why agencies remarket

Common triggers include changed pricing or coverage, a nonrenewal, different exposures, or a client request for options. The purpose is to evaluate suitable terms for the client while preserving a clear comparison with the current placement.

It is also expensive to do. A full commercial remarket means refreshed applications, loss runs from the incumbent, supplementals for each new market, and re-keying the same risk into several carrier portals. That is real staff time per account, which is why most agencies cannot remarket everything.

What the work actually looks like

Pull the current dec pages, request loss runs, update the ACORD applications, pick markets whose appetite fits, submit, and chase underwriters for quotes. Then build a proposal that puts the new options next to the incumbent's renewal offer.

Loss runs can be a required step, particularly for commercial accounts, but the receiving carrier sets the requirements. Confirm which years and valuation dates are needed and request them early. Track missing client information and supplemental answers alongside the reports.

When not to remarket

Set remarketing priorities with the client and the agency's service standards. Consider coverage changes, exposures, price, service, carrier fit, and any request to explore options. Record the reason for the decision instead of using a rate increase alone as the rule.

Start with the comparison you need to make

Gather the expiring terms and the current renewal offer before approaching alternatives. Confirm the client's changed exposures and priorities. That gives the team a consistent basis for comparing a new quote with staying on the incumbent policy.