A group contract is not a "signed and done" affair: it needs maintenance once a year. The good news is that this is not a project but a short, recurring routine – done against a checklist, it typically fits into a 20-minute block. Here is the list worth ticking through at every renewal.
The checklist – tick it through at renewal
- ☐ Review the indexation letter. The insurer's renewal letter typically proposes indexation (value tracking): see how much the premium and the sums would rise, and decide – accept it, adjust it or discuss it.
- ☐ Refresh the headcount. The insured list should match reality: joiners on, leavers off, long-term absentees handled by the agreed rule. Discrepancies breed premium corrections and disputes.
- ☐ Claims experience. What did the insurer pay over the past year? The pattern of payouts shows which covers really live – and what is missing or superfluous.
- ☐ Adjust the tiers. Pay rises, a new management circle, changing job types: the tiers should follow the organisation. For the sizing logic, the designing limits and tiers article gives a handle.
- ☐ Align with the accountant. Confirm the consistency of the annual premium, the benefit structure and the tax treatment together with the accountant – at year-end closing it is then a checked item, not an open question.
- ☐ Broker review. Once a year it is worth handing me the question: is the contract in a good place compared with what the market offers? If yes, we stay; if not, we tender – the switch or stay dilemma has its own article.
When to start – and who does it?
Start the renewal round 6–8 weeks before the anniversary date: that leaves time for the indexation decision, the tier adjustments and a possible tender, without any rush. If you ask, I prepare three of the six points as your broker – interpreting the indexation letter, the claims analysis and the market comparison – while the headcount refresh, the tier adjustment and the accountant round stay in-house. The decision, as always, is yours.
Make it a routine
Best practice: a calendar entry two months before the anniversary date, containing the link to this page and the names of the owners. That way the renewal round does not depend on anyone's memory – it is a system.
Group insurance – start the renewal round
To do: review the indexation letter · refresh the insured list · request the claims experience · rethink the tiers · align with the accountant · ask for the broker review.
Owners: [HR] · [FINANCE/ACCOUNTANT] · [BROKER]. Checklist: csoportos.biz/en/insights/renewal-checklist.html
The practical aids that complement the checklist – contact-sheet examples, data lists – are collected on the Resources page; and if the budget itself is up for redesign this year, the budget planning checklist is the next step.
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