Your insurance renewal program

At VMIA, we understand how important it is for you to have the right insurance in place. VMIA’s renewal program follows a year-round cycle designed to ensure all our clients receive timely, accurate advice and transparent insurance coverage.

The renewal cycle: Why it matters

The annual renewal program helps VMIA ensure you have the right insurance covers for the year ahead. Each renewals year builds upon previous years to deliver clients a seamless renewal experience, from data collection through to policy issuance and post-renewal review (see table below).

September – Laying the groundwork

We confirm your asset register, verify your exposure data, and set up documentation through our Renewal Risk Information (RRI) assessments.

The goal during this phase is to establish a strong foundation for accurate premium calculation and appropriate cover for clients.

October to November – Pricing and program development

From October until year end, we work on pricing and program development.

• October: We model premium pools for major classes based on your latest exposure data and claims experience.
• November: We secure internal approvals for individual client premiums using your up-to-date insurable risk information.

December to March – Client engagement

From December, we commence client engagement on premium indications.

• December: We share indicative pricing for major classes with most clients, which continues into January.
• January to February: Your feedback helps us refine our products and confirm your coverage needs for the year ahead.
• March: Premiums for minor classes are determined based on the finalised RRI data you provide.

April to June – Renewal execution and policy finalisation

During this period, we finalise and issue your renewal documentation.

• April/May: We run final checks, confirm policies, and send out invoices. This is when feedback from clients is incorporated to improve clarity and efficiency for future cycles.
• June: We complete the renewal process by issuing policies and certificates, so your coverage is active and accurate from 1 July.

July – Review

• July: We conduct a formal renewal retrospective, where we review our performance, capture lessons learned, and identify ways to improve the process for next year.