Revenue modeling exercise
Overview of Sales Process
Matrix’s distribution model is built upon developing relationships with Agencies / Brokers located across the US and Canada regions (B2B). Our Sales organization – segmented by revenue bands into small, medium, and large – onboard Brokers within Agencies onto our Sales platform in order to generate quote submissions. They then work with internal stakeholders across Security, Risk Engineering and Customer Success teams to convert these quote submissions into Policyholders or Binds. The rate of conversion of quotes to Policyholders (Binds) is known as a Quote-to-Bind (QtB) ratio. The quantity of Policyholders (binds) and an average price per policy (average premium) generates total Gross Written Premium.
Within Excel or Google Sheet please model out the following, documenting any assumptions in the process:
Assume that the Broker base across all three Revenue Bands is the same. As a starting point, assume that we begin M1 with 1,000 Brokers and add 100 brokers per month who quote. Additionally, account for 0.5% attrition of our broker base on a monthly basis.
Note: Matrix is an MGA which means its revenue is a percentage of GWP. To avoid unnecessary complexity this exercise doesn’t include the GWP to revenue recognition aspect of the Company’s model.
Expense note: There is no specific guidance on what rate to plan for expenses.
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