How did a once great company get overtaken by a sociopath?
14 replies (most recent on top)
The only thing you need to know about LEMONADE is that it's around the corner from where FUDGE IS MADE.
"Corporations are people, my friend.", Mitt Romney once famously said to a heckler. Those corporate people are sociopaths. In fact good CEOs often have the traits of psychopathy. Of course they will have to be highly functional in order to be a CEO, and not a serial k–ler.
1070fdXa-wgy dumbest comment of the year. K–l the pensions, really? This isn't illinois, pensions are funded and an employee plus. Is it that you don't plan to stick around so screw the other employees who aren't annual job jumpers or do you just like to slit your own throat?
Lemonades expense ratio in 2018 was roughly 1,500%, yes, you read that right. Whose the mo–n who doesn’t know was AOP is and clearly can’t read Lemonades financials correctly?
Like my momma said:. "Make your bed lay in it!"
Wonder how our leaders will work untold layers of management into the lemonade model....when there’s nobody to manage. That would be a nifty trick to see.
@wgy.....as another poster stated-maybe try knowing what you’re talking about. AOP is just a unique State Farm term. It means “adjusted operating profit”, after we add massive investment returns back onto our underwriting numbers. You are clearly using it in the context of an expense ratio when you talk about it being under 100.
Ok, CBV loses all credibility when he suggests looking at Lemonades AOP. They don’t use “AOP” that is a term/concept strictly used by SF. It was created in the early 80’s to to better define profit/loss in light of SF’s massive and unique CAT exposure. You never see the term outside SF and the rating agencies don’t even acknowledge it. It is ugly when the uniformed try to speak insurance.....
Lies. Lemonade is losing money. If you are going to post something, do your damn homework first.
Look at Le.monade. No agents, underwriters, claim reps. AOP below 100. They will buryState Farm unless we change and adapt. Luckily we have leaders willing to make the diffucult choices. Now k1ll the pension.
Even if the company fails he will still have millions. He wins either way.
What's he going to do when all these changes fail? He would have already dumped his biggest asset...highly trained, experienced, knowledgeable insurance professionals. This company was done the moment they valued technology over their employees. So go pray to your false god...as your company crumbles around your inept decisions.
As he was trained, he will count the beans until there are no beans left to count.
Apethy and cowardice. Allow me to quote Einstein...why is there evil in the world? Because those with the power to stop it did nothing.