Reduce insurance leakage by controlling the 5 places premiums drift: exposure data, audits/true-ups, endorsements, broker fees, and rushed renewals.
Primary outcomes:
- Cost reduction: prevents avoidable true-ups and misc premium increases
- Risk mitigation: reduces coverage gaps and unpleasant exclusions
- Carbon impact: not applicable
The 5 leakage zones
- Exposure data errors (wrong payroll classes, wrong property values)
- Premium audits and true-ups (late/inaccurate data → penalties)
- Endorsements and mid-term changes (untracked premium impact)
- Broker compensation opacity (fees and commissions unclear)
- Rushed renewals (no time to market options or negotiate)
60-day premium leakage audit sprint
Days 1–15
- inventory all policies and premiums
- collect endorsements and mid-term changes
- pull claims/loss runs summary
Days 16–30
- reconcile exposure data (payroll/property/vehicles)
- identify potential overstatements
- confirm broker fee structure
Days 31–60
- correct exposure errors before audit deadlines
- document endorsement governance
- implement renewal calendar discipline
Templates (copy/paste)
1) Endorsement and Mid-Term Change Log
| Date | Policy | Change | Premium impact $ | Approved by | Evidence link | Notes |
|---|
2) Audit Readiness Checklist
Copyable template (TEXT)
Audit Readiness Checklist
- exposure data compiled and validated
- class codes reviewed (if applicable)
- property schedule updated
- endorsements logged with premium impacts
- broker compensation understood
- renewal timeline set with milestones
- Insurance Program Cost Control Kit ()
- Spend Visibility Starter Copy Pack ()
- Savings Realization Proof System ()
- Insurance Renewal Impact Calculator ()
Definition of Done
- exposure data is validated before audits
- endorsements are tracked with premium impact and approvals
- renewals run on a calendar, not panic