Does anyone have more detailed information on how many customers Allstate has lost lately? It seems to me that we are losing them rapidly. A large number would not be at all surprising given the unenviable position employees are in. Dissatisfied and overworked workers - dissatisfied customers. This seems clear to everyone except those to whom it needs to be clear the most.
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Possible acquisition target?
We used to be the largest stock company (vs mutual) in business. Wouldn't be surprised if we slip to 5th or 6th due to "re-imagining" - "re-inventing" - "transforming growth" - TC is more interested in protecting your cell phone and pets than it is in managing its core business. Wait until March results hit the sheets as we will see a drastic drop in policyholders and revenues will drop as well. At the highest levels of TC they have no idea how an insurance business should be run and they chase their tails all-day. Competitors smell blood in the water and they are in a feeding frenzy. Agents churning up bad business and throwing it at the wall just make things worse for the claim department.
Hit the nail on the head. Bad morale leads to poor service, which leads to decreased renewals. Not to mention the fact that the premiums are overpriced for the coverages they offer. I did a quote with Progressive, and I will save about $200 per policy period (6 months), and that's with even more coverage added on.