Can anybody weigh in on when AI will replace us? Whether it's underwriting or claims? Policycenter in underwriting is moving fast. Much faster than I thought it would anyway but have no idea what the future looks like. Have been concerns about whether we will actually be needed and if not when the axe comes
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No intelligence required to replace many of you here.
Stargate today! Get ready.....it's coming real fast. Those big agents will soon face their match.
You have obviously never met an agent, no problem, I’m sure the General has your 20 year old ford focus well covered with minimum limits. Rock on dude.
Does it really matter to an agent if they do not have a policy gain? if agency revenue increases 15-20% a year they do not really care do they? If an agent adds 200 renters policies at $100 a pop they may looks like a hero on paper but they ain’t making much $ on them. Maybe as a large percentage of agents near retirement they have just decided to coast the last 5-10 years, so what, they have earned that right.
Yes please keep raising rates, most of us agent's have seen at least a $100K increase in compensation in the last 3 years due to all the rates hikes. All you fools in operation are getting your MIP/EIP cut and merits raises slashed! SF Exec is playing you for complete id-iots! Do more with less...haha! Finance the agents on your backs! Su-kers........
few and I mean damn 05 agents see anything over 8%, those guys are starving. Even the 97 contract guys just had the formula for their income changed to base it on production starting this year. I’m on the 97, does not really matter much as income has gone up 25% a year for the last 3 years, let them claw some of it back, still will make 100k more than last year. Please Keep raising rates.
AI is rules engines
The user stories su-k & workflows bad and many backend vulnerabilities and data abuses
But- if a shady consulting org /rep/ sales or VP or Director or up hear “AI” they get all giddy- $$$
D-mb
In the dog eat dog world, #2 is the first loser.
Not sure why everyone is so caught up on being #1, what is wrong with being a very profitable #2?
Ohhh yes CCC/Quote and Bind was a joke...but that is because we were paying those people 30K a year and staffing with fast food workers. Plus SF didn't invest anything in technology and create a system for dummies, with zero automation. That is changing now with the P&C mod work. It's easily doable....go ask Geico and Progressive....oh wait Progressive is doubling their book of business every 7-9 years and will overtake SF third quarter of this year. They pay an IA a higher up front commission to write the business but very little renewal commissions. Plus they have technology! They also do a ton of on-line and service the business themselves. Agent's are a nice to have, not a must have.
Yea,…… the company tried that remember, the error rate was thru the roof, they could not even write a simple renters policy. What exactly are we getting from internal employees for the $52k per year? Claims su-ks, underwriting su-ks, Life service is still pretty good. What else ya got scooter?
80% of our SF agents haven't had a net policy gain in over a decade. 20% of the agents generate all of the growth. The AA05 contracts pays a base 8% each renewal and if they sell enough policies it can go as high as 15% (bonus! 7/10 policyholders will never file a claim so yes agent are basically completely useless. You can have a cheap call center employee take payments, process coverage changes, or any other basic service that agents provide...or just do it on-line for free! This would also eliminate all the constant mistakes, field discounting and "coaching" to scam SF. The average agency compensation is around $520,0000 a year! (yes I know half that goes back into the agency.blah blah blah) Average compensation for an employee at SF is around $52,000. I will let you do your own math.......on who provides the value to the policyholder! SF can sell policies on-line and use IA like most carriers do and cut that Agency expense in half...as you would still have to pay some type of compensation.
Heck the company would be long gone without the agency force, you do realize agents employ more people collectively than the company to bring in new business and service it. If we were not an extremely economical model to do that we would have been gone long ago. And yes, we make a sht load of money if we do it right.
@idv a severance package in the next 12-18 months with be fantastic. I may even stick it out 2-3 years if they put one of those long tails on it.
Or like a lot of people that only need to work another year or two to retire with our pensions so we do not have to take the abuse anymore, praying for severance everyday!
I guess that means that @ybh is neither a decent nor a reasonable person.......
Everyone in U/W needs to wake up as most of us will be gone by the end of 2025 and definitely done in 2026. After they force everyone to go back into the office, train wreck claims AGAIN including getting rid of ILR/Express. Exec is going to try to force a lot of U/W staff to move over to claims but that will be an absolute disaster. U/W is being automated away and AI is coming for some claims jobs as claims is starting to see AI summarizing file notes, digital QFCs with more to come. Our expense ratio is around 31-32% with almost half of that expense going to support agents. SF spends nothing on employees regardless of what they say. They are going to run the company into the ground trying to support the exclusive agency model! All heck will break loose when Progressive overtakes SF this year as the #1 auto insurer. The SF Execs can continue to embezzle from a mutual company as long as we have agent's. They can play number games with everything to hide what they are doing. Look at what MT did, like a thief in the night for sure! 2025 is going to be a disaster, our Execs are mo--ns, any leadership left are clueless "yes" id-iots that can't understand basic math and we hire nothing but societal rejects that the AI screening of resumes/HR identifies as people desperate for a job that are least likely to leave. Qualified people are rejected because no decent or reasonable person would work at this sh-t hole because as soon as they experience the toxic culture, see the people they are sitting next too or ride up an elevator that stinks like weed! SF is delusional and still thinks it is some kind of special place, SF has Uncle Rico Syndrome!!!!