Definition of Persistency:
Percentage of an insurance companys already written policies remaining in force, without lapsing or being replaced by policies of other insurers. Since persistency is a critical factor in the viability and success of insurance companies, they constantly look for ways to increase this percentage.
How to use Persistency in a sentence?
- Gabriel was determined to sell all of her Girl Scout cookies so she could attend the summer camp, and her persistency paid off.
- The persistency was high for insurance firm but they knew change is constant so they wanted to prepare for the worst.
- You should have great persistency when you really believe that you know the best way for your company to proceed.
Meaning of Persistency & Persistency Definition