Portfolio order isn't a project, it's a rhythm: you build it properly once, then a structured hour a year maintains it. This article turns that sixty minutes into a schedule – it works precisely because it's short.
- The anchor of the annual review is the renewal table: it's worth sitting down 2–3 months before the main renewal date.
- Five questions make the agenda: what changed, are the values right, are the limits right, what did we learn from claims, does it need re-tendering.
- The routine always ends with a decision and a note – next year's review lives off this year's.
When and with whom?
Timing comes from the renewal table: 2–3 months before the cancellation window of the heaviest-weighted contract – so if the review calls for action, there's time to request quotes and act properly. The participants: the internal owner (managing director or finance person), the accountant for questionable points (accountant and broker), and the broker, who brings the market side.
The five questions
1. What has changed in the company? Headcount, site, activity, revenue, major purchases – whatever has changed and hasn't been reported needs sorting out now: change notification. 2. Are the values right? Replacement value of assets, stock levels, building rebuilding cost – inflation and market movement alone can make these outdated: an underinsurance check. 3. Are the limits and deductibles right? Do the liability limits still match partner expectations, and do the deductibles still match what the company can bear? 4. What did we learn from claims? Turning the year's claims experience into a cover decision: building in claims lessons. 5. Does it need re-tendering? Not everything needs it every year – but it's worth looking every year: where has the market moved, where has value for money worsened.
The close: decision and a trace
The review is only worth something if it closes with a decision: what we're leaving alone, what we're amending, what we're putting out to tender – with an owner and a deadline, back into the renewal table. And a five-minute note: what we looked at, what we found, what we decided. Next year, that note will be the number-one time-saver. If the routine isn't in place yet, it's worth starting the first round with a review: how a portfolio review works – after that, the annual hour really is just an hour.
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