IFP per employee at $1.174M against $340K in 2021 is a steep series, but it is a ratio, so repricing lifts it without any new policies. How much of the 3.46x comes from rate increases versus actual policy count growth?
Good point, any better metric though? I mean, number of policies / employees is not a perfect metric either, because there is a lot of difference between a pet policy and a car policy and you would be weighting them the same …
IFP per employee at $1.174M against $340K in 2021 is a steep series, but it is a ratio, so repricing lifts it without any new policies. How much of the 3.46x comes from rate increases versus actual policy count growth?
Good point, any better metric though? I mean, number of policies / employees is not a perfect metric either, because there is a lot of difference between a pet policy and a car policy and you would be weighting them the same …