Does anyone here know what Terrance will reveal to the EA's today? Supposedly big (and probably bad) news for EAs
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They expect IAs to write more than EAs. As someone who has worked extensively in both channels that will never happen in the next 10-15 years. Allstate will lean too hard on the IA channel and transformative growth will fail to show significant growth. Here we go!
The Wolf 🐺 checking in here! Sorry I have been gone for a while. The Wolf 🐺 has been very busy! Wrote 6 cars, 2 houses a flood and some commercial autos today. Customer could not get help from their Allstate agent that is no longer with Allstate. The Allstate customers want help and they can’t get it! Customers are tired of talking to Hi--------s at 1-800-Allstate. Keep the discourse going The “Wolf” 🐺 will gladly serve the customers! Retention at Allstate Q1 86.5. Q2 retention will head south!
So... What happened in the meeting?
Mandatory Integrated Services and Compensation % decrease would be my guess.
Gonna make it more expensive to be an agent...The point is to get rid of the direct agents. They are too expensive, require too much hand holding etc. Online, AI, and Independent channel are focus. The goal, I believe, is to be Progressive only slightly more expensive.
exclusive agents...soon to be known as extinct agents !!
What is an ea?
Not sure. Apparently all first line leaders were required to sign non disclosure agreements. TC is absolutely crazy if they think they can survive let alone grow without EA’s.