In this article, you'll find information to help interpret your Financial & Insurance CLOUT reports in ENVISION, including definitions for report headers and examples of what they mean.
A Financial CLOUT report is used to understand the asset and debt products and services in an area. It can also gauge demand for financial products as part of a Trade Area analysis. For example, a financial institution may want to open a new location or realign the territories of existing locations. This database can be used in conjunction with other databases (e.g., Pop-Facts Premier and Businesses) to get a sense of the population and businesses in the area.
Product Count of Area: The count of the financial products or services in the Trade Area households. Note that one household can have more than one of the same type of product or service.
% of Area HHs: The percentage of households in the Trade Area with that financial product or service.
Product Count of Base: The count of the financial products or services in the benchmark households. Note that one household can have more than one of the same type of product or service.
% of Base HHs: The percentage of households in the benchmark with that financial product or service.
Index: %: Measures whether households in the Trade Area are more or less likely to have that financial product or service compared to the benchmark (average = 100).
Average $ Balance per HH of Area: The average dollar value of that financial product or service per household in the Trade Area.
Average $ Balance per HH of Base: The average dollar value of that financial product or service per household in the benchmark.
Index: Average $: Measures whether the dollar value of that financial product or service per Trade Area household is higher or lower than the benchmark.
For example, 46.46% of households in the Trade Area of Los Angeles hold any investment account. With an Index: % value of 103, this is slightly above average compared to all households in the United States. An Index: Average $ of 111 indicates that the average dollar value of LA household investment accounts is 11% higher than the US benchmark average.
An Insurance CLOUT report is used to understand insurance products and services in an area. It can be used to gauge demand for insurance products as part of Trade Area analysis. For example, an insurance provider may want to open a new location or realign the territories of existing locations. This database can be used with other databases (e.g., Pop-Facts Premier and Businesses) to get a sense of the population and businesses in the area. This report also includes information about purchase channels and attitudes towards insurance providers.
Count: The total number of households in the trade area that have that specific product.
%: The percentage of households in the trade area with that specific product. Note that average dollar amounts for the trade area also appear in this column.
Base Count: The number of households in the base area with that specific product.
Base %: The percentage of households in the base area with that specific product. Note that average dollar amounts for the base area also appear in this column.
% Pen: Of all households with that specific product, % Pen is the proportion found in the trade area.
Index: Measures whether the households in the trade area are more or less likely to have that product than those in the base area. An Index of 100 is average. Indices above 100 are above average or over-represented. Indices below 100 are below average or under-represented.
In Los Angeles (DMA), 5,676,016 households have auto insurance coverage, which is 95.72% of total households in the trade area. Of the total number of households with auto insurance in the United States, 4.74% reside in Los Angeles; this is the penetration rate. With an index of 102, households in Los Angeles are just about as likely to have auto insurance as the rest of the United States.