Retention speaks volumes about service quality

In the tightly-regulated world of workers' compensation, there are a lot of data points we monitor closely to track how we're doing. Premium growth, loss ratios, capital levels, new business—all are important. But there's one measure in particular that speaks volumes, and we watch it very closely.

Retention is the percentage of policyholders who decide to retain SAIF as their carrier when their workers' comp policy with us expires. This would be similar to repeat business for a retail establishment. Customers have choices in the marketplace, and won't return to the same seller unless they believe they received a quality product and good service at a fair price.

SAIF's retention level for 2015 was 99.8 precent. Pretty remarkable! Not many customers chose to go elsewhere. And that means we must be doing something right.

We know we had lots of help. Without the experience, knowledge, and community relationships of our agents, our retention level wouldn't be what it is today. We have a great partnership. When we combine SAIF's value with our agents' expertise and service, why wouldn't our customers keep coming back?