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Hi All,
I have a requirement to calculate renewal rate for the year 2016, 2017 and 2018.
Can you please help me to achieve this.
Many Thanks
What is the formula to calculate the Renewal rate?
The formula for that is say for example in 2016 there are 100 policies and 2018 there are 150 policies out of 150 policies I got 70 as renewal and 80 as New policies, so the renewal rate is 70/100 = 70%.
Hope this helps.
Hi,
Hope this solve!
=Sum({<PolicyType={"Renewal"},Year={"$(vMaxYear)"}>}Policies)
/
Sum({<PolicyType={"New"},Year={"<$(vMaxYear)"}>}Policies)
OR
=Sum({<PolicyType={'Renewal'},Year={"$(vMaxYear)"}>}Policies)
/
Sum({<PolicyType={'New','Renewal'},Year={"<$(vMaxYear)"}>}Policies)
vMaxYear=Max(Year)
Thanks
Mustaq
How are you defining the new and existing policy? is there a flag?
Can you share some sample data to work upon?
Hello Karthik
May be you can check this file for the calculations.
You can also do by using peek function in the script.