What is one of the typical tasks performed by insurance brokers during the renewal process?

One of the typical tasks performed by insurance brokers during the renewal process is reviewing claims history. This task is crucial as it provides brokers with insights into the client's past insurance claims, which can significantly influence the terms and conditions for the renewed policy. By examining the claims history, brokers can identify patterns, assess the risk profile of the client, and negotiate better terms with insurers, ensuring that the renewed policy adequately reflects the client's needs and risks.

For example, if there have been multiple claims in the past year, the broker may need to discuss ways to mitigate future risks with the client and work with the insurer to find coverage that considers the increased risk level. This proactive approach helps in maintaining a positive client relationship and maximizing the client's insurance coverage effectiveness as they navigate the renewal process.

The other tasks mentioned, such as underwriting policies and issuing them, typically fall under the responsibilities of insurers rather than brokers. Representing the insurers is also not a primary focus during the renewal process, as brokers primarily act on behalf of their clients to find the best options available in the market.