How to Track Conversion Ratio for Your Insurance Agency
Your conversion ratio is the single most useful producer-level number after premium. It tells you how good each producer is at turning chances into dollars. Here's how to set it up and read it in AgencyIQ.
In this guide:
- The 3 conversion ratios worth tracking
- Step-by-step: set up tracking
- Where to see each ratio in the app
- What healthy ratios look like
- What to do when a producer's number slips
Time to finish: 15 minutes to set up tracking. Best for: Owners and office managers.
What 3 conversion ratios should I track?
Different ratios answer different questions.
| Ratio | Formula | What it tells you |
|---|---|---|
| Lead-to-quote | Quotes delivered ÷ leads received | Is the producer reaching people? |
| Quote-to-close | Policies bound ÷ quotes delivered | Is the producer closing? |
| Lead-to-close | Policies bound ÷ leads received | Overall efficiency of the whole funnel |
Agencies that only track the end number (lead-to-close) miss the why. The other two tell you where the funnel is leaking.
For more on what these mean: see What is Conversion Ratio.
Step 1 — Make sure your sales data is loading
Conversion ratios start with clean sales data. Go to Data → Sales Log and confirm:
- Last week's sales are there
- Each sale is on the right producer
- Product (Auto, Fire, Life, Health) is filled in
If sales data is messy, your ratios will be messy.
Step 2 — Start logging quote activity
Quote activity is the other side of the ratio. Every producer logs:
- How many quotes they delivered this week
- Broken out by product line
Options:
- Producers log daily — recommended, 20 seconds per day
- Bulk CSV upload — weekly, if you already track it elsewhere
More detail: How to Track Daily Activity.
Step 3 — Upload your lead data
The third piece is leads. If you buy internet leads, upload them on Data → Internet Leads. See How to Upload Internet Leads.
Once leads, quotes, and sales are all flowing in, AgencyIQ calculates all three conversion ratios automatically.
Where do I see the ratios?
Per producer
Open any producer's profile (click their name on the leaderboard). The Performance section shows their three conversion ratios for the current month, quarter, and year.
Agency-wide
The main dashboard's leaderboard has a Ratio View toggle. Flip it on and producers are ranked by close rate instead of premium.
Trended over time
The Sales Trends page has a "Conversion" tab that shows each ratio over 12 months. You can overlay a year-over-year compare line.
What do healthy ratios look like?
Benchmarks for a mid-tenure personal-lines producer.
Lead-to-quote
| Lead type | Strong | Weak |
|---|---|---|
| Fresh exclusive leads | 50–70% | Under 40% |
| Shared leads | 30–45% | Under 25% |
| Aged leads | 10–25% | Under 10% |
| Referrals | 75%+ | Under 60% |
Quote-to-close
| Product | Strong | Weak |
|---|---|---|
| Auto | 25–40% | Under 20% |
| Home | 25–45% | Under 20% |
| Life | 15–30% | Under 10% |
| Bundled multi-line | 50%+ | Under 35% |
Lead-to-close
| Overall | Strong | Weak |
|---|---|---|
| Personal lines | 15–25% | Under 10% |
| Commercial | 20–35% | Under 15% |
Benchmarks vary a lot by lead source and market. Use your own agency's top producer as a more reliable baseline.
What do I do when a producer's ratio slips?
Match the pattern to the fix.
If lead-to-quote is dropping
They're not reaching people. Check:
- Is their call volume steady? (cross-check with activity tracking)
- Are leads being distributed fairly?
- Did a lead source change quality?
If quote-to-close is dropping
They're reaching people but not closing. Check:
- Did close rate drop across multiple products or just one?
- Are they pricing confidently? (ride along on 3–5 quotes)
- Are they following up after the initial quote?
If lead-to-close is stable but premium is dropping
They're closing the same percent, but at lower dollar amounts. Check:
- Is the average premium per policy down? (smaller cars, less coverage)
- Are they writing more monoline and fewer bundles?
- Has carrier appetite shifted?
How often should I review ratios?
- Weekly — quick pace check, nothing formal
- Monthly — in 1:1s with each producer
- Quarterly — formal review in the quarterly meeting
One ratio to watch every Monday: close rate. It's the most actionable number for coaching. Lead flow and volume are slower to change.
Frequently Asked Questions
What if I don't buy internet leads — can I still track conversion ratios?
Yes. Track quote-to-close using your quote activity data and your sales log. You won't have lead-to-quote without a lead source, but the close rate alone is still valuable.
How do I handle a producer who rarely quotes (pure referral book)?
Their lead-to-quote will be very high (referrals pre-qualify themselves) and their quote-to-close will also be high. That's normal — don't compare them against a lead-heavy producer.
Can I compare producers fairly when they get different lead types?
Compare them on the same lead type. AgencyIQ breaks out ratios by lead source so you can see each producer's fresh-exclusive close rate separate from their aged-lead close rate.
What minimum volume do I need before a ratio is trustworthy?
At least 20 quotes in the period you're measuring. Below that, the ratio is too noisy — a single extra close moves it 5 points.
Does AgencyIQ flag when a ratio drops?
Yes. The producer profile shows a warning indicator when a ratio slips below your agency's rolling baseline. Threshold-based email alerts are on the roadmap.
Stop guessing why some producers close and others don't
AgencyIQ is free during beta for Founding Members. Track all 3 conversion ratios automatically and spot exactly where the funnel is leaking.
Founding Members get grandfathered pricing when we launch paid tiers later this year.
Last updated: 2026-04-18