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Renewal Rate
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
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What is the formula to calculate the Renewal rate?
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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.
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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
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How are you defining the new and existing policy? is there a flag?
Can you share some sample data to work upon?
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Hello Karthik
May be you can check this file for the calculations.
You can also do by using peek function in the script.