Key Features of Carrier Appetite
The Carrier Appetite chart analyzes your current book of business and presents information about carrier appetite based on your agency's data. Operating within the US insurance market context, it provides valuable insights into carriers' preferences.
The chart displays the following:
Status: The current status of each carrier, which the customer can set as Strategic, Non-Strategic, or, when not set, Other.
Market: Insights into which markets are inclined to underwrite specific products within particular industries and regions within your existing book of business.
Policy Counts (Direct and Indirect): Separate counts for direct policies (isdirect: true) and indirect policies (isdirect: false).
Commission Ranges (Direct and Indirect): First and third quartile commissions for each carrier, broken down by direct and indirect.
One of the most significant features is the sliding tabs that allow you to switch between viewing "My Book" and "Community":
My Book
Takes data from your Agency Management System (AMS) and displays it for your agency.
Allows you to filter and display data based on the criteria provided, giving you insights into your market growth and placements.
Community
Aggregates data from various AMS across all customers.
Provides a broader perspective by showing where other agencies are placing lines of business with different carriers.
Allows you to see commission rates and performance of other agencies, offering valuable comparative insights.
Filters and Selections
The chart supports various filters to tailor the displayed data:
Ultimate Parent, Parent, or Issuing Paper
Product
Markets
Industries
Account Size
Location
ZIP Code
Radius (available only when a single ZIP Code has been entered)
Key Metrics Displayed at the Bottom of the Chart
At the bottom of the chart, you can see several key metrics:
Carriers
Direct Premium
Direct Policies
Indirect Premium
Indirect Policies
Downloading Data
Users can download the table to Excel for further analysis. Working in Excel also allows you to utilize pivot tables for more detailed data analysis.
Practical Example
Suppose you want to understand where your agency typically places workers' compensation policies in California. By examining the chart, you may discover that a significant portion of your business is written with the State Compensation Insurance Fund.
Additionally, you earn 2-3% more commission when working with them compared to your second-best carrier.
This insight helps you determine which carriers perform best in specific areas and regions for your agency. If you do not see the expected data, review your filters to ensure they are not inadvertently over-filtering your results.
