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Glossary

Lost at renewal

Premium or contract value that did not renew, split by line, carrier, account executive, competitor category, stated reason and whether the placement was remarketed first. Losing on price without remarketing is a process finding; losing remarketed placements to one competitor is a proposition finding.

DefinitionPremium or contract value that did not renew, split by line, carrier, account executive, competitor category, stated reason and whether the placement was remarketed first. Losing on price without remarketing is a process finding; losing remarketed placements to one competitor is a proposition finding.

Every renewal has an outcome

Renewed, lost to a broker, lost to direct, non-renewed. An unresolved renewal past its date is usually a loss nobody recorded.

The reason distribution

An executive whose every loss is "price" is a pattern in itself.

How it is computed

Value that did not renew, split by line, carrier or product, owner, where the business went, and whether any review or remarketing was logged beforehand.

Example

$1.4 million of premium did not renew. $900,000 of it was on policies with no remarketing logged inside the notice window, and two competitors took two thirds.

Where it goes wrong

Recorded as lost, with price as the reason. The pattern is in who it went to and what was not done beforehand.