Thread regarding Allstate Corp. layoffs

Is NatGen the future of Allstate?

Just finished up the earnings call and couldn’t help but think there was a lot of NatGen talk. Makes some sense with the Allstate-brand continuing to shrink while NatGen is growing and profitable, but if NatGen is just using Allstate’s rates, then they’ll struggle too.

Unless Allstate recommits to the EAs (which seems very unlikely - Tom even admitted on the call that the direct product is cheaper than the EA product), what’s the future for the Allstate brand? Seems to make more sense to let NatGen continue to grow. They’re definitely more nimble/fast than us on the Allstate side and we really have no leadership on our side that is worth anything. Do they?

by Anonymous
| 1331 views | | 6 replies (last May 10, 2024) | Reply
Post ID: @OP+1skld4bC
Comment! It's anonymous!

6 replies (most recent on top)

Allstate is already applying typical Allstate rates and UW guidelines to the NatGen products which is already leading to minimal new business in certain states where NatGen was the #1 go to product for homeowners.

by Anonymous
| | Reply
Post ID: @8oci+1skld4bC

Nat Gen will be a big part of Allstate but they will be absorbed into Allstate...And Allstate personnel will be the ruling party. The Nat Gen brand will eventually be eliminated like Esurance was but will combine into Allstate, There is place and room for what NatGen was but it will be under the established Allstate name.
NatGen is not replacing Allstate as some of you seem to think. Those of you in NatGen better hope there is a hole for your job.

by Anonymous
| | Reply
Post ID: @2fhb+1skld4bC

Nat Gen was a great acquisition to go after the IA channel--seriously. The failed Allstate/Encompass approach for the last 20+ years allowed Progressive to dominate over 1/3 of P&C segment. We could never grow P&C market share by trying to be a dominant EA carrier only, as greater than 60% of all premium sat with IA and Direct players. Needless to say, the $1 billion investment for Esurance was a a very expensive moonshot. Lost money every year, and no more than 1% market share after many years. All that noted, don't underestimate the ability of TW and senior team to sc--w this up. They have a 20 year history of missed opportunities!

by Anonymous
| | Reply
Post ID: @1lzm+1skld4bC

Everything Allstate touches turns to cr-p. They'll micromanage NatGen into failure.

by Reverse Midas Touch
| | Reply
Post ID: @1oqy+1skld4bC

Wasn’t the NG sales leader just put over all Allstate sales? Not sure if that was a promotion or lateral move but first move of leaders from NG to Allstate.

by Anonymous
| | Reply
Post ID: @1lrd+1skld4bC

Nat gen is not using Allstate rates - entirely different set of products. If Allstate wants a bright future, let Nat Gen dominate the IA channel and become top2 carrier, expand business insurance using NG C.V. product and get to 50 states for c360.

Finally, power hungry VPs out of Nat Gen and let them run. The biggest distraction within the NG walls is Allstate leaders looking to share the success of Nat Gen.

by Anonymous
| | Reply
Post ID: @1arm+1skld4bC

Post a reply

: