Agent Quality

When an actuary and the head of agent marketing couldn’t agree on the right approach to take with agents with poor prior loss results, we built a predictive model to predict future loss ratios, using data already available to the company. We were able to identify tiers of agents so that rewarding (for the good agents) and preventative (for the bad) actions could be enacted. Sales managers reported that the tiers fit their intuitive sales senses more accurately than did a simple LR review.