Scorecard Definitions

Data Descriptions

Growth % by Business Unit - This score is based on the agency’s Written Premium growth rate in a given Business Unit. Three-year growth percentage (one year for Middle Market) is calculated and compared to countrywide medians of agencies similar in size with Westfield.

Policy Count CAGR % - This score is based on the agency’s Inforce Policy Count growth rate. A three-year Compound Annual Growth Rate (CAGR) (one-year policy count growth rate for Middle Market) is calculated and compared to state medians.

Inforce Premium – The 'Written Premium' for policies with coverage in effect at a given point in time.

New Business Written Premium % - This score is based on an agency's New Business Written Premium over a two-year period. Two years of New Business Written Premium expressed as a percentage of Written Premium from the corresponding years, the value is then compared to the state average.

Policy Retention - This score is based on an agency's Policy Retention Rate - Immediate. Policy Retention Rate - Immediate is the Ending Inforce Policy Count - Immediate expressed as a percentage of the corresponding Beginning Inforce Policy Count - Immediate. This metric averages 1 year for Personal Lines and 2 years for Agribusiness of Policy Retention and compares the value to the state average.

Premium Retention - This score is based on an agency's Premium Retention Rate - Immediate. Premium Retention Rate - Immediate is the Ending Inforce Premium- Immediate expressed as a percentage of the corresponding Beginning Inforce Premium - Immediate. This metric averages 3 years for Personal Lines, and 2 years for Middle Market, of Premium Retention and compares the value to the state average.

Yield Ratio – This score is based on New Policy Issued Count divided by Rated Count for Small Business and Agribusiness over a 3-year period.

WesCom Farm Usage – This is an Agribusiness score calculated by WesCom external submissions compared to total submissions. This metric averages 3 years and compares the value to a national WesCom average.

Surety Written Premium - A one-year view of Surety Written Premium.

Surety Growth % - This is based on the agency’s three year written premium growth rate.

Loss Ratio - This score is based on the Case Incurred Loss Ratio. The Case Incurred Loss dollars for a given period of time, expressed as a percentage of the corresponding Earned Premium. This metric uses three years of losses and Earned Premium. ISO CAT losses are removed at the feature level. Special Risk and Surety are not included.

Corporate Growth % - This score is based on the agency’s Written Premium growth rate. Three-year growth percentage is calculated and compared to countrywide medians of agencies similar in size with Westfield.