The losses are coming! Allstate and independent agents are writing a great deal of Non-Standard business through the Nat Gen channel. Allstate could never play in the nonstandard arena. Tom Wilson panicked in 2015 when his Auto loss ratio creeped up to 100. I believe he sold off a great deal of his options because the mounting auto claims.
https://www.insurancejournal.com/news/national/2015/08/05/377560.htm
More folks are driving and getting into accidents. Hurricane season is upon us. 2021 loss ratio will pale compared 2015. I’m sure the band will play as this ship starts to sink. You have an alienated sales people and a direct program that could never crack the profitability code. Allstate customers are leaving in droves to the tune of an 86.7 retention ratio.
TW and GS’s goal is lower the Allstate standard rates. This will also put pressure on the loss ratio! Tom and Glenn- Have fun on the q3 earnings call. No one is going to buy into your twisted reasoning. Carl Icahn is going to squeeze Tom and Glenn by the Na Na’s and pressure those boys to sell this dog to someone that knows what they are doing. Does the word ProgressAll have a ring to it?