Many brokers are under optimising this cost-effective revenue-generation engine
Ask any mortgage broker where the real value of their general insurance book sits right now, and the honest answer won’t be new business pipeline; instead, it lies in renewals. Renewals are a cost-effective revenue-generation engine, yet for many brokers, renewal management remains under-optimised.
That has to change. The metrics make sense. According to the Harvard Business Review, increasing customer retention rates by 5% increases profits by 25% to 95%. Let’s explore further…
The soft market squeeze means retention makes sense
The UK insurance market is deep into a softening cycle. The average cost of home insurance in the UK fell 9% year-on-year in January 2026, according to Compare the Market. Meanwhile, according to the most recent Home Insurance Price Index from Consumer Intelligence, the average quoted price for a new home insurance policy fell by 12.1% over the course of 2025.
In many lines, including property, policyholders shopping around for deals have been achieving double-digit premium reductions as insurers flood the market with capacity and compete aggressively for new business. The consensus is that these conditions will persist well into 2027. Compounding the pressure are the comparison sites and AI quote engines that now identify and target broker renewal books with offers that arrive faster and cheaper.
For insurers, this is a growth play. But for brokers, it’s a margin squeeze unless they respond faster and more strategically. Every time a broker misses an important renewal conversation, it’s not just a lost premium they're risking; it’s a client acquisition cost they’ll have to spend all over again to recover that lost revenue.
Yet most brokers still operate largely reactive renewal processes. A reminder goes out close to the expiry date. A quote is arranged. The client is contacted. Repeat.
It’s time to change things up.
The true value of a timely renewal conversation
Research consistently shows that acquiring a new client costs five to seven times more than retaining an existing one. Therefore, even a marginal improvement in retention rate compounds dramatically over time. A broker retaining 85% of their book rather than 80% is not 5% better off; they’re substantially more profitable over the lifetime of the client relationship.
Looking more closely at insurance-specific data, research suggests that brokers implementing structured renewal campaigns (i.e. systematic, personalised outreach that begins three months before expiry), report retention rates 12 to 18% higher than those relying on minimal contact strategies. That’s not a marginal gain. The brokers that win at renewals have replaced reactive policy administration with proactive renewal management. Reactive administration waits for the renewal date to approach. Proactive management uses data to identify and target the right conversations with the right clients well in advance of the policy expiry date. It means knowing which clients are most at risk of lapsing, which products are most exposed to competitive pricing pressure, and which relationships need a personalised recommendation rather than an auto-generated reminder.
So why aren't more intermediaries doing it? As we see it, the answer is because too many don’t have the tools and support to do it well.
Think a centralised renewal hub that gives brokers complete visibility across their book, automates flagging of upcoming renewals, surfaces comparison options and supports an end-to-end self-service workflow. Makes sense, right?
The brokers who will grow through this soft cycle are the ones who engage earlier, communicate more meaningfully, and demonstrate genuine value to clients before a competitor, or an AI, gets there first. Renewals are more than just an administrative issue; they're an important revenue generator.
The tools exist. The data is available. The only question that remains for every broker is whether their GI provider is able to deliver the tools they need to win at renewals. If not, then maybe it’s time for them to shop around, too.
Mark Chappell is the Head of Intermediary at Ceta
