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  "presentationDate": "2020-08-01 00:00:00",
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  "notes": "This slide serves as a glossary or methodology appendix for financial metrics used in the presentation.",
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      "text": "We define gross loss ratio, expressed as a percentage, as the ratio of losses and lossadjustment expense to gross earned premium. We define net loss ratio, expressed as a percentage, as the ratio of losses and loss adjustment expense, less amounts ceded to reinsurers, to net earned premium.",
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      "text": "We define Premium per Customer (\"PPC\") as the average annualized premium customers pay for products underwritten by us or placed by us with third-party insurance partners. We calculate PPC by dividing IFP by Customers. We view PPC as an important metric to assess our financial performance because PPC reflects the average amount of money our customers spend on our products, which helps drive strategic initiatives. Gross earned premium (\"GEP\") is the earned portion of our gross written premium. We use this operating metric as we believe it gives our management and other users of our financial information useful insight into the gross economic benefit generated by our business operations and allows us to evaluate our underwriting performance without regard to changes in our underlying reinsurance structure. Unlike net earned premium, gross earned premium excludes the impact of premiums ceded to reinsurers, and therefore should not be used as a substitute for net earned premium, total revenue, or any other measure presented in accordance with GAAP.",
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      "text": "Key Performance Indicators (cont'd)",
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