A 2% Close Ratio: What It Means for Producers

Imagine running a business where only 2% of your efforts led to a sale. How long could you stay afloat?

For many Managing General Underwriters (MGUs), that’s not hypothetical—it’s reality. Some report close ratios under 1%. In today’s commoditized market, the pressure isn’t just on MGUs. It’s on the producers and TPAs who bring the deals.

So how do you stand out?

How do you get your RFP to the top of the stack? How do you earn a second look—and more importantly, a second conversation?

Relationships matter in the medical stop-loss space. But what if you’re still building that trust—or worse, if you’re losing it by not showing up well? Whether you’re a new producer or a seasoned one who’s gotten comfortable, credibility makes the difference. Here’s how to build it:

1. Be Prepared

Every RFP tells a story. Don’t just send a spreadsheet—frame the narrative. Why is this group different? What risks are involved? What’s being done to manage them?

Great producers don’t hide the warts. They answer questions before they’re asked. That kind of transparency helps underwriters trust you—and trust drives response rates.

2. Be Authentic

Underwriters can spot the difference between hustle and hype. Be clear about your values, and work with clients who align with them. If a group isn’t a fit, say so—or refer them to someone who is.

Doing the right thing builds long-term credibility with MGUs and carriers. And yes, there’s more than enough business to go around.

3. Be Adaptable

It’s good to have a plan. But if that plan is locked in before the carrier gets involved, you’ve likely painted yourself into a corner.

Many producers design program stacks, finalize comp models, and only then bring in an MGU. That’s usually when reality sets in: the numbers don’t work. Instead, involve your underwriter early. They see the claims. They know what works. And they can help you shape something better.

To move up from a 2% close ratio, start thinking like an underwriter. Help them say yes faster.

The Bottom Line

Underwriters are constantly asking themselves: “Where should I invest my time?” You can answer that question for them—by making your RFP stand out.

When you’re prepared, authentic, and adaptable, you’re not just another file on the pile. You’re someone worth calling back.

A rising tide lifts all boats. Here’s to earning your place at the top of the stack.

Happy hunting!