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Re: Captive P&C Agents: Simple Question. What is Your Close Ratio
I agree that major rate increases are a major challenge, those guys are scrambling and playing defense without a huge focus on new business. There is no value position that will buy you more than a 10-15% rate cushion.
Progressive has a extremely high retention rate for a company that has high rates... But their high rates never change. The customer gets used to paying $$$ per month and the rates don't change so the renewal is a non event.
I agree that major rate increases are a major challenge, those guys are scrambling and playing defense without a huge focus on new business. There is no value position that will buy you more than a 10-15% rate cushion.
Progressive has a extremely high retention rate for a company that has high rates... But their high rates never change. The customer gets used to paying $$$ per month and the rates don't change so the renewal is a non event.