Insurance Glossary

Portfolio Analytics

Analyzing a broker's book of business to identify growth opportunities, risk concentrations, and high-value client segments.

P&C Analytics

Systematic analysis of property and casualty data to drive underwriting, risk selection, and growth decisions.

Churn Prediction

Using machine learning to identify clients likely to leave before renewal, enabling proactive retention interventions.

Predictive Underwriting

Machine learning applied to underwriting decisions for faster risk assessment, accurate pricing, and reduced manual work.

Insurance AI

Artificial intelligence across the insurance value chain — from underwriting and pricing to claims and client management.

Cross-sell Ratio

The average number of products per client, measuring wallet share and relationship depth across your portfolio.

Retention Rate

The percentage of policies renewed at expiry — the single most critical growth metric for brokers.

Loss Ratio

Claims paid divided by premiums earned — the fundamental measure of underwriting profitability.

Combined Ratio

Loss ratio plus expense ratio — the single number that tells you if underwriting is profitable.

Book of Business

The complete portfolio of policies and client relationships, representing current revenue and future earning potential.

Binding Authority

Delegated underwriting power from an insurer, allowing brokers or MGAs to bind coverage within agreed parameters.

MGA (Managing General Agent)

A specialized intermediary combining broker distribution with carrier underwriting capability for niche markets.

Volmacht

The Dutch delegated authority model where insurers grant agents the right to accept risks and issue policies.