What this guide helps you evaluate
risk and insurance teams evaluating renewal, analytics and inspection services where data quality, program evidence and service accountability materially affect placement and claims outcomes. This renewal and contract checklist helps organize a decision about broker rfp management service.
This page is designed to help you compare the moving parts, organize due diligence and ask better questions before you commit money, sign a contract or change an operating process.
Define the business outcome, decision owner, expected term and the evidence needed to validate broker scope and evaluation criteria.
Normalize broker scope and evaluation criteria, proposal normalization and interview process and fees conflicts and selection evidence before comparing proposals or internal options.
Keep assumptions separate from verified facts and record the source, date and owner for material requirements.
What to compare first
- broker scope and evaluation criteria
- proposal normalization and interview process
- fees conflicts and selection evidence
- program scope and service responsibilities
- data evidence and review quality
- fees service levels and insurer acceptance
Step-by-step process
- 01
Record renewal, notice, termination, price-change and evidence deadlines from the signed agreement.
- 02
Compare actual performance and usage against the original assumptions for broker scope and evaluation criteria, proposal normalization and interview process, fees conflicts and selection evidence.
- 03
Reconcile invoices, service issues, credits, commitments and unresolved obligations.
- 04
Benchmark current economics and identify terms that need repricing, clarification or risk reallocation.
- 05
Document the renew, renegotiate or exit decision before contractual notice windows expire.
Common mistakes and risk checks
- using incomplete exposure or claims data
- comparing fees without service responsibilities
- failing to define evidence and escalation requirements
- Treating a renewal and contract checklist as a substitute for signed agreements, current official rules or qualified professional review.
Documents and evidence to collect
- policy and exposure inventory
- loss and claims records
- renewal submission and control requirements
- provider proposal and service calendar
Questions to ask before approval
- How is broker scope and evaluation criteria defined, measured and evidenced?
- What changes if proposal normalization and interview process is higher or lower than the base case?
- Which fees, exclusions, implementation tasks or operating duties sit outside fees conflicts and selection evidence?