The company, which is owned by the Royal Bank of Scotland, has approached several non-roster agencies, as well as the incumbent, Elliott Borra Perlmutter.
The review process is being handled by Creative Brief.
A spokesman for Churchill Insurance said: "Churchill can confirm it is reviewing its creative agency. EBP has done a fantastic job in creating the iconic Churchill dog and making him one of the country's favourite brands. However, it is time to review the needs of the brand and ensure we have the best team possible to take Churchill to the next level."
The insurance company has run campaigns featuring the nodding dog for the past decade. In March last year, RBS stopped using the comedian Vic Reeves as the voiceover artist on the commercials, following his involvement in a drink-driving incident.
In November last year, RBS handed its Direct Line insurance brand to M&C Saatchi, a year after the account was won by Clemmow Hornby Inge.
Neither agency is involved in the pitch for the Churchill business.