shaedzs
Expert
- 31
I work mostly on the P&C side in personal lines at my agency but I was looking for feedback from agency's that specialize in individual health as to what their average retention rate is? I'm looking into developing my individual health book and need some help developing some core assumptions regarding lifetime value of an individual health client. Also, what is a good assumption for the average premium for individual health insurance in California? On the personal lines side, I have calculated from my agency that the average Home/Auto policy generates about ~$100 in revenue per year, per policy. (Counting each car and each home as a policy) Retention rates are about 1-2 years for an auto only client, 4-6 years for a home only client, 8-9 years for an auto/home client and 10+ for auto/home/life client.