So we have been informed that the point of transformative growth and the rif was to reduce operating expense to ultimately reduce rates. Yet here we are a few months later and have not reduced rates. What we have done is overburden employees with more work than they are capable of handling and increase dividends by 50%. So when can we expect to see rate reductions? Also, what is the long term outlook on customer experience impacts with the increased workload burden on our employees.
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Poor India...it's not their fault the US takes advantage of third world countries.
Autonomous self service insurance adjusters are an already established technology, mostly developed in India (which started out as mostly software development and analytics in 2012), and you've got Indian live chat and Indian adjusters to pick up the slack. Hell, GEICO's been doing insurance sales by phone for half a century, and surveys already show that the large majority of people prefer customer self-service, and they've got a mostly online business and so does Progressive with industry sales going from $10B online to $32B online in just ten years, and Allstate is way behind the curve with average rates double that of competitors. Boomers are dying offand everyone else is Amazon to Allstate's Sears. Your onshore American job is a costly fat Dodo bird with c-appy legacy process, and it's time to move on.
Transformative growth should be renamed Transformative sale. The cesspool is for sale. But before Wilson gets rid of the pig he is putting a little make up on the swine. He is cutting the expenses immensely. This makes the swine’s balance sheet more attractive. Let’s raise the dividends you see the swine is going to need shareholder approval when we cut the swine loose. Lower rates are never coming! The balance sheet needs to be propped up and that can’t be achieved by lowering rates. Who wants to buy the pig, my guess is Geico. They have more cash on hand and would love to have Allstate’s last remaining asset which is a decent homeowner product. Don’t count out Progressive, they could use the Pig’s homeowners product also but their pockets are not as deep as Geico’s. The agent force will be cut by 30% and make it a more manageable distribution point. Remember, progressive and Geico would not mind having an efficient agent force to compliment their online business. Both carriers know how to live harmoniously with agents.
Indian people also make the worst insureds. Zero loyalty for every time rate goes up a penny. They always find it cheaper online.
Seems like the IQ of the people posting here is sub 80. Is this representative of the whole company or just the bottom feeders trolling this site?
Transformative Growth is not hard. Mainly because Tom, Glenn, and the other meatheads at the top aren't all that bright. Otherwise they could fix what is wrong with this company the right way instead of falsely giving the indication that they are growing market share themselves. Instead they are buying it like the weak minded lazy t–ds that they are.
Transformative Growth is pretty simple much like our fearless leaders. Phase one was done last year...mass layoffs. Phase two is under way now. Demoralize, frustrate, and push their own employees to the breaking point so they quit on their own. No severance. In conjunction they change attendance and metric guidelines and backdate it placing many employees on UNs or straight terminations. Again no severance and unemployment. Phase 3 move all you can to India and exploit the lower than adequate wages, no benefits, lax labor laws, and zero integrity. Once the movement of many areas to India is complete they will start treating them like garbage as they do us now. There will be no more concerts during work, no more dancing during work, no more India heritage celebration days. Just a lot of abuse and pain to a level that even they will see it unacceptable even by India workplace standards.
All the while Tom and Glenn continue to make unacceptable wages and bonuses that we should not tolerate and that must be stopped.
Allstate India works 12 hours a day for a fifth the hourly pay. If you can hire a maid for $50 an hour or a maid for $10 an hour, who are you going to go with? Allstate's gotta compete on the Indian price, and it's going to get there, thus, the transformation. Other insurance companies are way ahead of the game because they've been doing this for two decades already.