An expiration card is a record used by an insurer or agency to track when a policy is due for renewal, remarketing, or follow-up. In plain language, it is a reminder tool for policies that are about to expire.
How it is used
Historically, agencies kept physical expiration cards in a manual suspense system. Today the same idea usually lives inside an agency management system or CRM. The record typically includes:
- the insured’s name
- policy number and line of business
- expiration date
- current premium and carrier
- notes for renewal marketing or underwriting follow-up
The goal is to make sure the account is reviewed before the policy expires.
Why it matters
Expiration tracking protects retention and helps avoid accidental gaps in coverage. It also matters for agency economics because expirations can be tied to book-of-business value and ownership rights between agents, producers, or agencies.
Practical example
An independent agency sees that a contractor’s general liability policy will expire in 60 days. The expiration card prompts the account manager to request updated payroll and sales figures, approach the incumbent carrier, and obtain alternate quotes before the renewal deadline.