What is Renewal Rate?
Renewal Rate is defined as: Percentage of insurance policies or contracts renewed at term. A leading indicator of customer satisfaction and pricing competitiveness.
What data source is used to measure Renewal Rate?
Renewal Rate is typically measured using data from a Policy Admin System. This system of record provides the transactional and operational data required to calculate and monitor this metric accurately and in real time.
Typical Data SourcePolicy Admin System
Which industries track Renewal Rate?
Renewal Rate is a key performance indicator used across the following sectors:
How does Firehawk Analytics measure Renewal Rate?
Firehawk Analytics connects directly to your Policy Admin System and delivers a live Renewal Rate dashboard. Configuration is completed within 48 hours — no data analyst required on your team.