Understanding Close Rate
How we calculate. Close rate % = binds ÷ quotes presented × 100. The form uses the same arithmetic as the worked examples on this page. See our methodology and accuracy policy.
Real-world scenario: A typical Close Rate case uses bound policies 120 and quotes presented 400. Enter the same figures below to reproduce the worked path.
What is Close Rate?
A sales-effectiveness KPI for agencies and direct channels. Align “presented” with CRM stage definitions.
- Same opportunity set
- Bound = issued/bound per policy
- Segment by producer for coaching
The Formula
Worked Example
Common Use Cases
- Agency CRM: producer conversion
- Marketing ROI: quote quality
- Capacity planning: bind volume
Pro Tips
- Don’t count unissued binds
- Exclude withdrawn quotes if SOP requires
- Pair with quote-to-bind when stages differ
Limitations: Close Rate results are educational insurance and agency planning aids—not underwriting, actuarial, claims, or financial advice. Confirm statutory definitions with your carrier, regulator, and finance teams.
FAQ
Quotes or opportunities?
Use whatever CRM stage your team calls “presented.” Keep the label consistent month to month.
What if quotes presented is 0?
Close rate is undefined—enter a positive quote count.
Authoritative References
For insurance ratio and reporting concepts, consult:
- NAIC — U.S. insurance regulatory resources
- Casualty Actuarial Society — actuarial education resources
- Insurance Information Institute — industry explainers