FAQ ID # 348
Learn how your producers, locations, insurance companies, lead sources, contact methods, and the agency overall is performing
Last Update : 2013/06/17
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Question / Issue
What is the Closing Ratio Report?

Answer / Solution

The Closing Ratio Report allows an agency to determine how effective their sales force is.

This report provides the percentage of quotes that were bound. 

Closing Ratios can be monitored by:

  • Producers/Customer Service Reps
  • Locations
  • Agency Overall
  • Insurance Companies
  • Lead Sources
  • Contact Methods

So for example, if a producer, Sue, provided 100 quotes to prospects but only 25 of those quotes were sold, Sue's closing ratio would be 25%.

The Closing Ratio report looks at the number of Sue's quotes bound, regardless of who actually bound them.  For example, if Sue quoted 100 quotes, but Marsha actually wrote the 25 policies from her quotes, it would still indicate that Sue's closing ratio is 25%.  This report is based on the philosophy that Sue should get the credit for the sale as Sue was the one that provided the quote, the one that actually "sold" the prospect on buying the policy from the agency.

If instead, you want to view how many policies Sue marked bound, regardless if she quoted them or not, you can use the Overview Report.

Related Links
Holding Producers Accountable by Measuring Their Success
It is important that you monitor your producers’ results in order to hold them accountable and give mentoring where it is needed because a successful producer is a happy and profitable producer.

Related FAQs
What is the Overview Report?
Description of the Overview Reports
How to Run a Closing Ratio Report
Closing Ratio Report

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