We’re making improvements to the way we handle Commercial and Speciality Lines renewals
Digitisation has impacted the way we handle Commercial Lines business for over a decade, and we’ve seen an increase in the scope and application of this in the last few years as we strive to make it easier for you to do business with us. However, it’s also important that we challenge ourselves to ensure we’re doing what’s right for customers, and to maintain our focus on driving good customer outcomes.
We continually review our renewal process across our Commercial business and will be making an improvement to ensure we are delivering clear contract certainty for your customers.
Why are we making this improvement?
Because it’s the right thing to do for your customers. In order to deliver contract certainty we need to ensure we have their complete and final agreement of all terms by the time they enter into the new contract, so we can be safe in the knowledge that they have the right level of cover in place.
This has never been more important than in the current environment where customers’ circumstances and needs may well have changed. Where we automatically renew policies, this could lead to the provision of either incorrect cover, or the renewal of cover that they no longer require.
What’s changing on Fast Trade?
Policies* issued on Fast Trade will no longer automatically renew. This means if you do not take action to actively accept the renewal before the expiry date, the policy will lapse.
We’ll be introducing this change in December so we’re giving you as much notice as possible. However, we’re asking that you start taking action on all renewals immediately to ensure this change is embedded in good time.
The Fast Trade renewal process couldn’t be simpler. All you need to do is ‘View’ each case, check the details of the policy with your customer, make any amendments needed, and then depending on your customer’s instructions select either ‘Accept’ or ‘Lapse Policy’.
*policies affected by this change also includes Fast Trade Personal Lines business - Household, Private Car, Van and Premier Bike.
How will this affect business you place with Aviva on a Regionally Traded (manual) basis?
All we need here, is for you to continue to provide confirmation, either verbal or written, to your Aviva underwriting contact(s) on every renewal.
You’ll notice that our underwriters will be working closer with you on your renewals, ensuring that you’ll be able to discuss and agree the final terms of your customers’ renewal, as well as providing the renewal confirmation instruction before the existing period of insurance expires.
What happens next?
Although these changes won’t be live in Fast Trade until December, we’re asking that you start to make the change now, and action all renewals ahead of their expiry date.
And the same for Regionally Traded (manual) renewals, make sure you’re giving us verbal or written confirmation of your customer’s instructions on every case ahead of the expiry date in order to ensure that cover continues.
To help in the Digital space, we will be introducing some enhancements to the Fast Trade journey nearer the time to highlight renewals that are imminent, where action has not yet been taken. This will give you added reassurance that you’re not missing any renewals that are coming close to their due date. We’ll provide more details on this next month.
Let us know what you think
As always, we welcome your thoughts on Fast Trade. If you’d like to leave us some feedback or any other comments you may have – select ‘Feedback’ within the ‘Options’ menu in Fast Trade and tell us what you think.
If you have any questions specific to this change, your usual Aviva contacts will be happy to assist.
Log in to Fast Trade to review your renewals.