Please Explain How Transformative Growth will be executed?

Can someone please explain how this seismic shift of going direct is going to be executed. Furthermore, identify how things are going to be different this time in the direct arena compared to the 10 year track record of Esurance ownership. Also, tell me how an 88% (Allstate Goal) combined ratio will be achieved in the direct channel relative to the E-surance’s 10 year average of 106%.

Also if you can give your thoughts on retention with an emphasis on how direct will be able to improve annual retention from the historically low 87% that Allstate is at right now.

With all of this new business that the direct channel will be writing, enlighten me on how a product that is priced 7%~8% can be serviced properly internally with keeping an eye on expenses of hiring fully benefitted and salaried work call center.

With Geico and Progressive fast approaching $2 billion in their advertising budgets (Allstate is at $750 mil,) what will Allstate have to increase its advertising budget to compete with the big players in the direct insurance business?

And last but not least what will be the impact when Allstate has to take a 9%~12% rates on any of their P&C products that they often have to do to return shareholder equity. What will be the effect on retention and earned premium. What department will mitigate the impact of the future rate increases with the customers.

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It does seem the Allstate stock could stagnate over the next 3 quaters if they do not grow. If there is no growth that could lead to more layoffs also.

@1fbx+1cNtsORI Great point. Carl Ichan’s position in Allstate has done very well. His timing was impeccable in the jumping in at Allstate at the right time. Moreover, his position did well as a result of the profits on the lack of claims during the pandemic and Allstate’s small (relative to Progressive and StateFarm’s) shelter in place refunds. Moreover, the illusion of growth with Nat Gen business hitting the books in q1 & q2 2021 has helped immensely. However, all good things come to an end. The claim frequency is starting to return. Allstate auto growth is going to normalize to very little to no growth at all. My question to you is will Carl Ichan, sail off into the sunset with his $180 mil profit or will he try to shake thins up in q2 2022?

Stop with this Ichan nonsense. He is 85 years old and owns 1 percent of the company. He isn't investing in allstate to run it, take it over or change it.

He has also made a hefty profit of about 180 million on his 400 million investment in a year. Trust me he isn't upset

@1bnk+1cNtsORI
Why did the media not embrace the thousands of job cut during a pandemic?

@1fuc+1cNtsORI That is huge news about Carl Icahn. Why hasn’t the media embraced this plot ?

Do some research on Icahn’s prior investments & the outcomes…. He will be getting the big blue sinking ship ready for sale & cash in on his investments. Soon as the sale is final say good bye to Tom & the rest of the ivory tower overpaid execs…….

@1dnl+1cNtsORI Carl Icahn was on CNBC and stated he likes the direction of the company.

https://youtu.be/Bm8VqbWQFis

Carl Icahn seems very happy with his investment of $400 mil. He bought at $90 and he is at about $131. Please explain Mr. Ichan’s intentions.

TG plan is out the window, new plan since Icahn is now on the team. Time to sell this broken antique.

@dkt+1cNtsORI You my friend are spot on!

@hkj+1cNtsORI your simplified explanation does not work out mathematically. You are collecting 7%~8% less on new business. At the same time Allstate is predictive pricing (CGR) the existing book of business causing it to renew at a sub 87%. As you know, actuarially, new business performs worse than tenured business. Moreover, new business retained at about 82% at Esurance and maintained a much higher loss ratio.

I apologize, I am using Esurance as an example but it is the only data available. Do you think the cuts in sales, claims, and the shift of duties to India will support your theory of greater profitability for the shareholders?

Moreover, your opinion on the cuts in claims and service in relation to retention would be appreciated. Also will their be a shift to encourage customers to use chat features opposed to talking to live people.

TG= cutting costs to increase profits, nothing more, nothing less. We are not enhancing our products, we are not enhancing the customer experience, we are not streamlining our internal processes. We are making more money for shareholders.

Transformative growth are just code words for massive layoffs

I think the answer to all the OP questions is: magical thinking in F tower and a layer of deadwood [x]VPs going through the motions just like they have throughout their over-long careers at Allstate.

Terrance is Glenn’s bi--h that divides the agency force. Don’t trust him

Where have you been? Transformative Growth has already been and is currently being executed. Transformative Growth only results in the growth of the pockets of Tom Wilson, Glenn Shapiro, and their few majority shareholder buddies. Mass layoffs, buying market share instead of improving their product, reducing fair claims reviews and limiting claims payouts, and moving large portions of most departments to India is what Transformative Growth is all about. Transformative Growth has zero positive influence on the customer and only fills the pockets of a select few. Transformative Growth is criminal. Karma will come to Wilson and Shapiro soon enough. He-l is not good enough for these two vile evil souled monsters.

Thread regarding Allstate Corp. layoffs

Please Explain How Transformative Growth will be executed?

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