An insurance agency earns on renewals. Most of the income is lost to dates nobody watched.

1. 01Renewals

   Renewals missed because the date is in a sheet

   What it looks like

   A customer's motor policy expired on Sunday. The sheet had the date, but nobody opened it that week. On Tuesday he calls to ask about a claim for a dent on Monday.

   What it costs you

   A lapsed policy means no cover, an angry customer and a renewal that moves elsewhere. Example arithmetic: 600 motor and health renewals a year at ₹1,500 average commission, with one in ten lapsing, is ₹90,000 of income lost, plus the customers.

   How Verity fixes it

   Every policy has an expiry date and a renewal owner. Verity lists renewals due in the next 15, 30 and 60 days, with the customer, premium and last contact, and creates a call task at the intervals you set. Your team makes the call.

   See the screen
2. 02Customers

   Ten policies for one family and no single view

   What it looks like

   A family has two motor policies, three health policies with different insurers, a term plan and a shop policy. Each lives under a different name and a different phone number.

   What it costs you

   The agency cannot see the whole relationship, misses cover gaps and cross-sell chances, and cannot say how valuable the family is.

   How Verity fixes it

   Customers are linked into households and businesses, with every policy, insurer, sum insured and expiry in one record. The service person sees the whole family before every call.

   See the screen
3. 03Documents

   Policy documents lost when a customer needs them

   What it looks like

   A customer needs his health policy schedule for a hospital admission at night. The agent searches WhatsApp, email and a folder named "Policies 2023".

   What it costs you

   A delay at the hospital desk, and a customer who remembers it. The policy wording, the endorsement and the premium receipt should be a tap away.

   How Verity fixes it

   Each policy has its schedule, wording, endorsements and receipts attached as documents with permissions and history. The right paper is found in seconds by the right person.

   See the screen
4. 04Claims

   Claims followed by phone and memory

   What it looks like

   A claim was lodged three weeks ago for a cracked windscreen and a hospital cashless request for another customer. Nobody can say which documents the insurer asked for or when they were sent.

   What it costs you

   Claims are where the customer decides whether the agent was worth it. A claim that drags without anyone owning the next step costs the relationship, and the commission on future years.

   How Verity fixes it

   Each claim is a record linked to the policy with the date of loss, the insurer's reference, documents requested and sent, the status and the next step with an owner and a date. Claims waiting too long are flagged. Staff talk to the insurer and the customer; Verity makes sure someone does.

   See the screen
5. 05Claims

   Missing documents delay the claim

   What it looks like

   The insurer asks for a discharge summary and a bank cancelled cheque. The customer sends them in two WhatsApp messages. One is lost.

   What it costs you

   Repeated requests, delays and a customer who blames the agent.

   How Verity fixes it

   A claim checklist is created by claim type, showing what was requested, what has been received and what is still needed. Each item has a date and the person who handled it.

   See the screen
6. 06Money

   Commission statements that do not tally

   What it looks like

   Five insurers pay commission in five formats. The totals do not match the policies sold. Nobody checks whether the commission on a renewal matches the agreed rate.

   What it costs you

   Income not received, commission clawed back without notice and an owner who cannot tell which line of business earns.

   How Verity fixes it

   Expected commission is calculated from each policy's premium, product and the rate you record. Statements received are entered or imported by agreement during setup, and Verity compares expected with received by insurer, policy and month, flagging gaps and clawbacks.

   See the screen
7. 07Compliance

   Rules on commission and rewards are changing

   What it looks like

   IRDAI released a consultation paper on 23 September 2026 proposing limits on commission and rewards, with gifts and reimbursements counted toward the limit. Comments are open until 25 October 2026. The agency has no clear picture of how much of its income comes from which product.

   What it costs you

   A change in limits will hit the product mix differently for each agency. Without product-wise data, the owner cannot see the impact until the money has already moved. The paper is a proposal, not a final rule.

   How Verity fixes it

   Commission income is recorded by insurer, product line, new versus renewal and agent. Verity shows what share each makes, so the owner can see what a change in the limit would touch in their own numbers.

   See the screen
8. 08Renewals

   Renewal premium goes up and the customer goes elsewhere

   What it looks like

   A health policy renews at a higher premium. The customer asks whether it is worth switching. The agent has not reviewed options since the year before.

   What it costs you

   Health renewals are a large part of an agency's long-term book. A customer who gets a price shock without a conversation is a customer who calls a competitor.

   How Verity fixes it

   Renewal tasks include last year's premium, claims history and the notes from the last review. The service person can prepare the conversation, and the outcome (renewed, changed insurer, lost) is recorded with the reason.

   See the screen
9. 09Renewals

   Customers who stop paying premiums on long-term plans

   What it looks like

   A term life customer misses a premium and the grace period runs out. The agent finds out when the policy has lapsed.

   What it costs you

   The customer loses cover, and the agent loses the renewal commission. These are plans where the customer will not buy again.

   How Verity fixes it

   Premium due dates and grace periods are on the policy. Verity creates a call task before the due date and again if it is missed, and records whether the customer paid, delayed or let it go.

   See the screen
10. 10Customers

    Cross-sell chances that never get asked

    What it looks like

    A customer with a motor policy and a term plan has never been asked about health cover, though his father has just been admitted for surgery.

    What it costs you

    The cheapest new sale is to an existing customer, and each unasked question is a sale given to someone else.

    How Verity fixes it

    The household record shows which cover types each customer holds. Verity lists customers with no health, term or home cover, and life events noted at calls create follow-up tasks. The agent does the advising; Verity helps decide whom to call.

    See the screen
11. 11Sales

    Leads from referrals and walk-ins that go cold

    What it looks like

    A shop owner enquires about a fire policy. The agent says he will send a quote. Two weeks later nobody has called.

    What it costs you

    A new customer is worth many years of commission, and delay hands them to the next agent.

    How Verity fixes it

    Each lead is a record with a source, a product, an owner and a next step. Verity lists leads with no contact in your set days and tracks the stage from quote to policy.

    See the screen
12. 12People

    Staff leave and take customer knowledge with them

    What it looks like

    A service executive leaves after four years. He handled 900 renewals. The replacement does not know which customers need a reminder in Hindi, which pay by cheque and which hate calls before 11.

    What it costs you

    Renewals dip right after the handover, which is when the agency can least afford it.

    How Verity fixes it

    Preferences, notes, tasks and history are on the customer record. Reassigning a book moves its tasks and notes to the new person.

    See the screen
13. 13People

    Sub-agents and POSPs whose work cannot be tracked

    What it looks like

    An agency works with sub-agents and POSPs who bring in business. Their policies, commission shares and payment dates are on separate sheets.

    What it costs you

    Disputes about who sold what, and an owner who cannot see which sub-agent is worth keeping. As of FY 2024-25, there were 27,18,487 POSPs, according to a report on the IRDAI annual report, so this model is common.

    How Verity fixes it

    Each policy records who sourced it, and commission shares are calculated per person. Verity shows each sub-agent's policies, renewals and earnings, and the payment due to them.

    See the screen
14. 14Compliance

    Licence, certification and compliance dates held in a drawer

    What it looks like

    An agent's licence renewal, the training requirement and the code of conduct are on separate dates. A new sub-agent is onboarded without checking.

    What it costs you

    A lapsed licence can stop a person from selling and expose the agency to a regulatory notice. IRDAI rules also change often, and the 2025 insurance law amendments have introduced penalties for unregistered agents.

    How Verity fixes it

    Each licensed person's licence, insurer appointments and training dates are records with expiry dates and owners. Verity raises tasks well in advance and shows sales by anyone whose licence status is not clear.

    See the screen
15. 15Compliance

    Customer data on phones and unprotected folders

    What it looks like

    Aadhaar copies, health documents and bank details are in WhatsApp backups and on staff phones.

    What it costs you

    A leak in a business of sensitive health and financial data is serious. The Digital Personal Data Protection Rules were notified in November 2025, with most duties due about 18 months later.

    How Verity fixes it

    Customer records and documents have permissions by role and a log of who viewed or downloaded them. Closing a leaver's access is one step.

    See the screen
16. 16Owner

    The owner cannot see the book as a whole

    What it looks like

    At the end of a quarter, the owner asks how many policies are up for renewal, how many lapsed, what the retention rate is and how much commission is pending. The answer takes a week of sheets.

    What it costs you

    Hiring, targets and which insurers to push are decided on feeling.

    How Verity fixes it

    The owner's screen shows renewals due and lapsed, retention, claims open, commission expected against received and leads in progress, live from the records.

    See the screen

Illustrative screens with sample data. Layouts, fields, names and terms are set up around how your insurance agency works.

1. Week 1

   Discovery and mapping

   What we do

   Sit with the owner, a service person and whoever matches commission. Follow a policy from sale to renewal to claim, and note where dates, papers and money are held today.

   What we need from you

   Two to three hours of the owner's time and an hour from each service person. A sample of policy records, a recent commission statement from each insurer and your renewal sheet.

   What you have at the end

   A written map of your agency: lines of business, insurers, renewal cycle, claim steps, commission rates, team and sub-agents, and the first gaps we will close.

2. Weeks 2 to 3

   Configuration

   What we do

   Set up customers and households, policy types, renewal and premium reminders, claim checklists by type, commission rates by insurer and product, sub-agent shares, licence and certification dates, and permissions for owner, service staff, accounts and sub-agents.

   What we need from you

   Review the setup with one service person and the person who handles commission. Tell us where a rate, a stage or a checklist is wrong.

   What you have at the end

   A working Verity with your policies, renewal cycle, claim steps and commission rules, ready for data.

3. Weeks 3 to 4

   Migration and training

   What we do

   Bring in your customers, policies with expiries, documents you have on hand, open claims and commission rates from your sheets and exports. Train the team on their own screens with real renewals.

   What we need from you

   Your customer and renewal sheets in whatever form they exist, and a check of the next 60 days of renewals. An hour with each role.

   What you have at the end

   Your customers, policies and open claims inside Verity, and a team that has run a week of renewals on it.

4. After go-live

   Operations partnership

   What we do

   Stay on after launch. Review the first renewal cycle with you, tune the reminders and commission checks, and handle changes when you add an insurer, a product or a sub-agent.

   What we need from you

   A short monthly review with the owner.

   What you have at the end

   A system that keeps matching how the agency runs, with someone responsible for it.

• Owner

  Is the book growing, renewing and paid correctly?

  Renewals due and lapsed, retention, claims open, commission expected against received and leads.

• Service executive

  Whom do I call today?

  Renewals and premiums due, customer notes, documents and claim tasks.

• Claims handler

  What is pending for each claim?

  Open claims, documents requested and received, insurer references and next steps.

• Accounts

  What did each insurer pay and what is owed to sub-agents?

  Commission statements, gaps, clawbacks and sub-agent shares.

• Sub-agent

  What have I sold and what do I earn?

  Own customers, renewals and commission share, and nothing else.