vegasjones
New Member
- 3
Hi all,
I know this is a loaded question. But all I'm really looking for is to hear some true numbers of captive agents quote to close ratio. A lot goes into close ratio as far as agent selling ability. But I have a specific reason for asking and haven't found an answer in searching the forums.
I was a captive agent for 10 years and have now moved to a position on our product development team. As I meet with agents in the field all I get is push back about rates. We had times where we were VERY competitive, but of course took high losses. Things have changed as of late and competition is tougher than ever.
In Nevada, where I'm having the most issue with agents complaing about rates our overall close ratio is about 31% as a state. Considering we're a captive company, had a lot of turnover with tenured agents leaving being replaced with new agents, closing 3 out of every 10 quotes you give seems to be successful. Maybe not in the eyes of an independent, and I understand that. But strictly speaking from a captive point of view, this seems acceptable.
Although maybe I'm wrong.
I've been making the point to agents that 31% is actually a respectable close ratio for a captive agent and to stop using the rate as a crutch for low activity/production. At the end of the day, if we have an idea of what our close ratio is then at that points it's a numbers game. This many quotes leads to this many policies, theoretically of course.
So with that long winded explanation of why I'm looking for this information, all I'd really like to hear from all you captives out there, is what is your current P&C quote to close ratio?
I know this is a loaded question. But all I'm really looking for is to hear some true numbers of captive agents quote to close ratio. A lot goes into close ratio as far as agent selling ability. But I have a specific reason for asking and haven't found an answer in searching the forums.
I was a captive agent for 10 years and have now moved to a position on our product development team. As I meet with agents in the field all I get is push back about rates. We had times where we were VERY competitive, but of course took high losses. Things have changed as of late and competition is tougher than ever.
In Nevada, where I'm having the most issue with agents complaing about rates our overall close ratio is about 31% as a state. Considering we're a captive company, had a lot of turnover with tenured agents leaving being replaced with new agents, closing 3 out of every 10 quotes you give seems to be successful. Maybe not in the eyes of an independent, and I understand that. But strictly speaking from a captive point of view, this seems acceptable.
Although maybe I'm wrong.
I've been making the point to agents that 31% is actually a respectable close ratio for a captive agent and to stop using the rate as a crutch for low activity/production. At the end of the day, if we have an idea of what our close ratio is then at that points it's a numbers game. This many quotes leads to this many policies, theoretically of course.
So with that long winded explanation of why I'm looking for this information, all I'd really like to hear from all you captives out there, is what is your current P&C quote to close ratio?