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Running an insurance agency is complicated, and you should track crucial metrics to ensure that you meet your goals. The only issue is that there are dozens, if not hundreds, of metrics you could theoretically track. So, which ones are the most important? We’ve gathered the most important metrics for insurance agencies to track.

Contact Rate

The contact rate compares the number of leads you contacted successfully with those you reached out to but couldn’t contact. Look at this for your agency as a whole and for individual agents.

Cost per Acquisition (Cost per Bind)

For insurance agencies, the cost per acquisition is also called the cost per bind. This lets you know how much it costs you, on average, to bind a new customer to a policy or acquire a new customer. Many insurance agencies forget to track it, but it can provide valuable insight.

Cost per Bind (By Lead Vertical)

Take your cost per acquisition to the next level by looking at various verticals. In other words, compare the cost per bind for auto policies to those for home insurance policies. This can help you figure out which types of insurance you do best with, letting you concentrate your efforts where you have the most success or find room for improvement.

Cost per Bind (By Producer)

Comparing how each of your agents does in terms of cost per bind can help you identify who needs additional training. It can also help you identify agents who use the best strategies so that they can share those strategies with others.

Cost per Premium (By Lead Source)

This is one of the cost metrics you want to track on a smaller scale. It looks at how much you must spend to drive a certain amount (that you choose) in the premium. Since you look at it by lead source, you can see which lead sources are the most cost-effective. Of course, you may also want to track cost per premium as a whole.

Cost per Item (By Lead Vertical)

With this metric, you track which type of insurance has the lowest cost per item that you write. As with the cost per bind by lead vertical, it lets you compare auto, home, life, and other types of insurance.

Cost per Quote

Don’t overlook the importance of your cost per quote. This is how much it costs to get to the point where you give a customer a quote. Compare this with other costs, such as the cost per acquisition. For example, if the cost per quote is low while the cost per acquisition is high, you likely have something between the quote and acquisition that is causing potential clients to skip your agency.

Monthly Bind Rate

Your bind rate is the percentage of quotes that your agency gives to leads who then convert into a bound policy. This is one of the most important metrics for any insurance agency. You can look at it as a whole and divide it up to get more information. For example, you could compare monthly bind rates for various agents.

Quote Rate

The quote rate refers to how many quotes you’ve been able to give out of the total leads you’ve reached out to. Look at this metric in daily, weekly, and monthly intervals. This is also one of the metrics that you should look at in terms of individual agents as well as your insurance agency as a whole.

Time to Settle Claim (By Policy Type)

This metric helps ensure that your insurance agency is delivering a good customer experience. It measures how long it takes for claims to be settled on average. The division by policy type is important as medical claims tend to take longer than auto claims.

Talk Time and Dials

This metric lets you compare various agents in your insurance company. You will get an idea of how much time the average agent spends on the phone talking to clients and how many people they try to call. It can be useful as a way to ensure that everyone is pulling their weight. Just remember that times are changing, and not all interactions will take place over the phone now. So, you want to combine this with other metrics before making any important decisions or even inferences about agents’ work ethic.

Harness Tech to Track Metrics

You don’t have to feel overwhelmed by the idea of tracking these metrics. The right technology makes it easy to do so. Jenesis, for example, offers a robust reporting feature. This feature gives you customizable reports that you can pull instantly. Choose reports on renewals, CSR efficiency, production, source of business, and more across various lines of business.


With an eye on the metrics mentioned above, you should be better equipped to spot when your insurance agency needs to make changes and when things are going well.