Sad times are coming at Allstate. The competitors are full steam ahead of Tommy Boy with growth plans while Tommy is still blaming agents for lack of sales and inflation propaganda that Wall Street buys every quarter.
4% commission is an insult to every exclusive Agent
3 replies (most recent on top)
Sears 101
The plan is imploding before our eyes….
Of course the trends are not favorable…Shapiro cut all of the claims experience to save expenses but is ending up paying even more money in losses……..
Any money that was saved is being eaten away..Leadership at Geico and Progressive are laughing their as@@s off……
Mark my words, in the coming years, Allstate will be taught in business schools as a cautionary tale..
After the market closed today, Allstate adds $408 million to reserves as loss development in current and prior years unfavorable. Reflects poorly on the claim department and leader Brandt. Taking in under priced business through increased marketing spend was d-mb, not bold. The foray into Shared Economy commercial coverage remains a loser with $91M added to reserves. Shapiro, the master of manipulation, has his work cut out for him, which won't be good for employee group.