We polled more than 600 Australian brokers. Over 60% are still managing renewals manually.
On its own that number doesn’t tell you much. On its own that number doesn’t tell you much. The IBCCC’s breach data from last year does.
Late contact, where the client wasn’t reached inside 14 days of expiry: 2,077 breaches, around $157,600 in financial impact.
Not seeking cover and presenting the client’s options: 603 breaches. $2.17 million. Far fewer files, roughly fourteen times the cost.
Both trace back to the same place. A spreadsheet will hold a renewal date, but it won’t chase the follow-up for you, and it won’t show anyone afterwards what you actually advised. The reasons brokers gave were consistent: manual error, system limitations, and not enough people during peak periods.
An admin problem, reported as an advice problem.
Lucinda automates the renewal workflow and integrates directly with your broking system and Microsoft 365, so the trail is audit ready.
If renewals are slipping, it’s worth a conversation.