Please expand..."last weeks town hall revealed drastic cuts in renewal comp and increased new business quotas" Concerned 19 year agency employee.
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Some of you are going out on a limb thinking that the OP knows how to read.
OP here. I am concerned as I am an employee of an agent. There is no article on Gateway that I can view. What is self explanatory? All signs indicate agents are being greatly reduced. Have the goals and renewal comp been altered yet again?
Pretty self explanatory if you tuned in last week and read the Gateway summary...
You can read about the comp changes on Gateway
Customers increasingly want to manage their bills and services digitally and only want to speak to someone when absolutely needed so the old model of calling an agent for a quote is dying off and being replaced by digital, self service platforms. Allstate have been on this path for years now and it is where all insurance companies that want to survive will go too.
Big Blue has been slowly making it harder and harder for agents to make compensation. This has been going on slowly since before the pandemic but certainly accelerated once the more direct model (becoming more like Geico and Progressive who have left us in the dust) initiated by the current ivory tower. The number of total agents have been slashed drastically over the last years either by making it not worth it or by "firing" and absorbing their books for lack of sales or lack of retention. Their market has been by independent agencies in areas needed. I would expect further cuts to the exclusive agency force as the new ASC product and direct model continue to be the focus.