Working in sales I’m tasked with testing our new agency models aimed to increase market share, that directly compete with established EAs. These models require no capital, free referrals to the agent, lower rates and free integrated services 24/7. There is a massive recruiting blitz happening right now and thousands (2500) are expected to appoint by the end of the year and 500 by 4/1. Next time Glenn/Terrance talk about support, know they are really working against you.
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Don’t forget about the Wolf also. There are many agents that are like the Wolf that have left Allstate and having a 3 course meal on existing Allstate customers. The Wolf smells blood! He gets high on the poor customer service and exorbitant premiums being charged at Allstate. The Wolf is jumping all over Allstate commercial too. Allstate does not know how to play in the commercial arena.
The ECP program is c-ap hence the reason it was sunset! The goals are unrealistic for 90% of owners but when you ask your FSL for help you are told purchase more marketing and/hire staff! After spending thousands of dollars a month (20k) on marketing and hiring staff nothing has changed. My best resource was my fellow agency owners who helped me navigate the system to keep my doors open. What I was “sold” as an agency owner was nothing like the real thing. I’m not rich and saved up the required capital but that 100k didn’t go very far. I see Allstate for what they are opportunists who want you to TPP for a pittance just so they can roll your PIFs into their book. This is a dirty dirty company with evil at the helm.
@insh, you missed the whole point. It’s not about agents writing bad business as has been portrayed on this site.
@yzc...so in other words you are just trying to justify why our EA's are cheating the system, putting their customers at further risk, and stealing from Allstate. You are jyst as big of the problem as the EA's and even more so. You are an enabler and complicit. Karma will get you my friend.
Claim folks, Let’s put this myth to bed. Your whining about full coverage and rental reimbursement has been going on since day one of my 35 yr career and yes, I started in claims and moved to field sales. 95% of the agents are ethical when it comes to business practices. The issue became the compensation structure for a new agency otherwise known as ECP. Our best agents write a ton of great business but are always looking for cracks in comp structure to take advantage of, they are entrepreneurs after all and there is a cliff at some point that the financial return doesn’t make up for the expense, based on the ROI of the individual owner. They can put there money into other businesses.
But for various reasons, some good and some bad, the company has controlled how many agencies can open an additional agency to take advantage of new agent comp structure and Agency owners cannot have a financial interest in someone else’s agency. Unfortunately, some of our best agents made back office deals with others that signed the R3001 for a financial interest in these new locations. This was the type of return some of our best were looking for to stay engaged with Allstate. The company changed the rules mid game on them regarding sharing staff, tech, etc because these established agents were getting paid a ton of new biz comp, while also bringing in a ton of NB and they got burned in 2019. Countrywide, we lost some of our best, most productive agency owners due to this as their contracts were terminated. It was not about cheating the underwriting system. The enhanced commission program is super lucrative if you can perform at a high level and it’s the ones that write hundreds of new policies a month that can take advantage of it.
"In a lot of ways the exclusive agents brought this upon themselves with shady business practices, lower ratios of new business staying on the books than direct business, and the insufferable arrogance and egos that these essentially the same as used car salesmen ooze 24/7...."
IMHO the shady business practices are a direct result of forcing new agencies to chase bonus dollars to survive. TC brings in new agents with stars in their eyes and so much practical business information withheld from them, soon they find they are swimming in a sinkhole. To survive, they are inherently forced to become "Marketeers" by throwing anything and everything at the wall to survive. I blame TC for creating this path over 20 years ago and then doing nothing to fix it other than terminate "marketeers" when they get caught. (oh, but TC KEEPS the business written)
We used to receive a fair commission, and knew the rules and rates and policies like the back of our hands. Many of our tenured agencies have 90+ percent renewal ratios and 34% or LOWER claim expense ratios. That was accomplished by simple following the rules. So, IMHO, TC created the Marketeers and now pays the price for lousy renewal ratios, high claim expense ratios, failing agencies all over the country, and the resulting bad taste in the mouth left from this practice by all involved.
Terrance is an a h o l e
I'm pretty torn on this.
In a lot of ways the exclusive agents brought this upon themselves with shady business practices, lower ratios of new business staying on the books than direct business, and the insufferable arrogance and egos that these essentially the same as used car salesmen ooze 24/7....
But at the same time the brass on Chicago screw over everyone they come in contact with including their corporate employees, customers, and yes even their exclusive agents...
Grab the popcorn folks! It's going to be a sh__show worth tuning in for!