Pathway calculates your retention rates monthly, allowing you to compare performance over different time periods (e.g., last month, last 6 months, last year). You can view retention scores filtered by Agency-Branch combinations or see an overall retention score for your agency. To ensure accurate calculation, it's essential to have your Agency and Branch structures correctly configured in Pathway. Learn how to set up your Agency and Branch Structure here.
Types of Retention Calculated
1. Client Retention
Measures the percentage of clients retained over a defined period.
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Calculation: Clients active at the end of the period divided by clients active at the beginning of the period.
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Data Used: BMS-provided fields (
live_date,lost_date) when available, otherwise relies on Pathway's policy data.
2. Policy Retention
Measures the percentage of policies retained over a defined period.
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Calculation: Active policies at the end of the period divided by active policies at the beginning of the period.
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Data Used: Pathway's policy data, ensuring uniqueness and excluding irrelevant or junk data.
3. Premium Retention
Measures the percentage of total active policy premiums retained over a defined period.
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Calculation: Total premium of active policies at the end of the period divided by total premium of active policies at the beginning of the period.
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Data Used: Pathway's policy data, ensuring uniqueness and accuracy in premium totals, excluding irrelevant or junk data.
These retention metrics are stored securely in Pathway and available for ongoing analysis to support your strategic decision-making.