My Ins #'s

[TDFnCali]

Since RNA is the only carrier I have that clearly & easily displays a summary of all your apps on 1 page & your placed, lapsed, ect #'s....AND since I put 65-70% of my biz with them, I wanted to ask if my #'s are good/decent?

I dont have a 13mo persistency yet, I need a few more mos, but here's my other #'s....


Retail-
Placement 95.1%
Decline 6.8%
NT/EL 17.9%

Wholesale-
Placement 100%
Decline 8.7%
NT/EL 15.8%


I know the BIG # is 13mo/P, but are these Good, Bad, OK....what do I need to work on?

Thx in advance!

 

[donamese]

Seem like decent numbers, maybe a little high on the lapse/NT% for less than 13 months but not bad.

 

[lsalmans]

This made me look at my own numbers with my primary company.

13 month retention: 81%

Placed : 94%
Not Take: 5%
Declined: 1%


This company gives me a letter grade of an A for this, and it looks like your numbers are better. I'd say you're doing just fine. Great agents will have retention in the 90's. However, in my experience when agents have good retention like in the 90s, its usually not a coincidence they do a LOT of business. They are putting so much NEW business on the books it keeps those numbers up.

Declined is 9%? That seems high, but I'm sure you have been able to roll the client to a different company when that happens, so who cares?

 

[TDFnCali]

This made me look at my own numbers with my primary company.

13 month retention: 81%

Placed : 89%
Not Take: 9%
Declined: 1%
NPW: 1%

This company gives me a letter grade of an A for this, and it looks like your numbers are better. I'd say you're doing just fine. Great agents will have retention in the 90's. However, in my experience when agents have good retention like in the 90s, its usually not a coincidence they do a LOT of business. They are putting so much NEW business on the books it keeps those numbers up.

Declined is 9%? That seems high, but I'm sure you have been able to roll the client to a different company when that happens, so who cares?

The declines for both Retail & Wholesale are from RNA's Essential Life Product, not their SIWL....Ive had ppl declined on that, about 3-4 I guess.

 

[donamese]

Counts help too...percentages are good but depends on the counts. 100 policies or 10 policies makes a single decline 1% or 10%.

 

[jdeasy]

The declines for both Retail & Wholesale are from RNA's Essential Life Product, not their SIWL....Ive had ppl declined on that, about 3-4 I guess.

Nothing wrong with those numbers. If you notice the colors of the numbers you will know if they have a problem. I'm sure your placement number is in green. That's good. If the numbers are in yellow then it's borderline and they want you to pay attention to it. If it's in red they have a problem with that number. And you would have heard about it from someone.

 

[gordon112]

The declines for both Retail & Wholesale are from RNA's Essential Life Product, not their SIWL....Ive had ppl declined on that, about 3-4 I guess.

Decent numbers, I already had one decline on the Essential whole life, just got licensed 3months ago. Lapse rate could use some improvement, but it depends on where you work. When i worked Detroit for 3 years It was the higher (and I was a very good trusted agent).. but you are talking about the D, high crime, very low income....(dodging bullets or hearing shots rainning out was the norm)...and avoiding the local crack dealer.

For the country, it is a little better, but volume isn't as good.

 

[Idahotransplant]

I am lost.....wholesale/retail in FE? Can someone please clarify for me?
Thank you.

 

[jdeasy]

I am lost.....wholesale/retail in FE? Can someone please clarify for me?
Thank you.

He is talking about the EFES system. You have two writing numbers with EFES. One is your "retail" number that you use for business from the leads. The other is your "wholesale" number that you use for your non lead business, referrals, warm market, etc. The wholesale number is higher commission.

 

[rousemark]

Looking at the wholesale number you have 100% placement, so does that mean that 15.8% have lapsed in less than 13 months?