What this guide helps you evaluate
risk, finance and insurance teams evaluating program administration, benchmarking and collateral services where coverage structure, claims economics and insurer requirements drive material cost. This renewal and contract checklist helps organize a decision about reinsurance administration platform.
Prepared by the PROFENG Editorial & Engineering Team. 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 treaty and facultative contract records.
Normalize treaty and facultative contract records, premium claims and bordereaux workflow and settlement controls and reporting before comparing proposals or internal options.
Keep assumptions separate from verified facts and record the source, date and owner for material requirements.
Re-test the contract before the notice window closes
A renewal review is not a repeat of the original purchase decision. Use actual usage, service performance, incidents, credits, price changes and switching constraints to decide whether the current agreement still produces acceptable value and risk.
- Extract notice, termination, auto-renewal and pricing deadlines directly from the signed agreement.
- Compare actual usage and service outcomes with the assumptions used when the contract was approved.
- Quantify unresolved service issues, credits, commitments and the practical cost of switching or exiting.
- Identify clauses that need repricing, clarification, additional protection or removal before renewal.
Decision gate: choose renew, renegotiate or exit early enough to preserve contractual leverage and complete approvals before any notice or auto-renewal deadline.
What to compare first
- treaty and facultative contract records
- premium claims and bordereaux workflow
- settlement controls and reporting
- program structure and service boundaries
- data, collateral and claims evidence
- fees, insurer acceptance and operating controls
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 treaty and facultative contract records, premium claims and bordereaux workflow, settlement controls and reporting.
- 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
- comparing fees without program responsibilities
- using incomplete claims or exposure data
- failing to define collateral release, reporting or insurer approval 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
- current insurance and reinsurance program
- loss runs and exposure schedules
- collateral or claims records
- broker carrier or vendor proposal
Questions to ask before approval
- How is treaty and facultative contract records defined, measured and evidenced?
- What changes if premium claims and bordereaux workflow is higher or lower than the base case?
- Which fees, exclusions, implementation tasks or operating duties sit outside settlement controls and reporting?
How to use and verify this guide
Use the comparison criteria and questions as a decision framework, then verify current prices, legal requirements, technical specifications, service terms and regulatory obligations with the primary or official references listed above. PROFENG explains its source, calculation and review principles on the methodology page.