Thread regarding State Farm Insurance layoffs

#2 by ‘22

I hear this is the new rallying cry from agents. State Farm has been the largest auto insurer in the U.S. since 1942, 78 years. In 2016 , Warren Buffett predicted Geico would takeover State Farm as the #1 auto insurer in the US on his 100th birthday, in 2030. Sounds like Buffett underestimated Michael Tipsord’s leadership abilities, or lack thereof. This is what happens when you promote leaders that cannot lead, Tipsord is manager material for a bean counting firm, not CEO of the largest auto insurer in the US. It is a race to the bottom.

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Post ID: @OP+15Hh1odA

25 replies (most recent on top)

Progressive just took over number 2 position for auto. Their ceo went to ISU in same town as Sf and has taken Prog to new heights

SF’s makes 10mm and thinks red cardinals are talking to him through his office window.

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Post ID: @16can+15Hh1odA

Growth with selling a promise is fine until the claims experience to make good of that promise which is another story. The company let talented people walk out the door while running an inexperienced skeleton crew for a claims operation. In this age of social media, word will get out that the customers getting subpar service while paying a premium price. If the claims experience is not good, people will leave anyway. Growth in sales can't outpace the on going growth of leakage overtime.

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Post ID: @14hbw+15Hh1odA

Maybe it should be #4 by '24 as that is the way things are going, my office is quoting just fine but we are getting k–led by Allstate and Geico they are beating us on quotes more than they ever did. I have customers that have had claims that are having bad experiences with our claims and leaving us for other companies, what is going on with this company.

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Post ID: @14ghv+15Hh1odA

@Ebsm-How much new premium did you personally bring in to State Farm during the last year?

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Post ID: @Guxk+15Hh1odA

Reality. Most of the ccc sales are done wrong and agents have to clean it up. This has been going on for years. And the internet and ccc is not going to displace agents entirely. To some degree yes.

Customers acquire their policy over the phone from a call center may not have as robust a conversion with the representative they speak to as they would in an agency setting. This could be due to pressures in the call center to manage and monitor Avg call times.

But insurance as we know it will be different..we know when consumers play “insurance agent” It leads coverage issues

  1. ​Consumers are not always aware they have coverage needs beyond compulsory purchases such as auto or home insurance.
  2. ​Agents do not do a proper job of uncovering a client’s exposures and insurance needs because customers don’t want to meet in person
  3. ​Consumers are unable or unwilling to pay for all of the insurance products they need to cover all of their exposures.
  4. ​Consumers decide not to insure at sufficient limits or add endorsements to provide full or better coverage.
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Post ID: @Fdex+15Hh1odA

@Ebsm.....They are selling on the internet. And through CCC. And I kid you not, it gets assigned to an agent (who gets a small fraction of their usual pay) to cleanup the mess when either the customer gives false info, or the CCC Rep has no idea what they’re doing.

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Post ID: @Ftzn+15Hh1odA

Wonder what changes Board meeting will bring?

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Post ID: @Eszm+15Hh1odA

@zzdc You have no idea how Google works, do you? They’re constantly changing their algorithms, so even if State Farm wanted to try to deceive you into thinking they were #1 when they’re not, they can’t. Also, there’s thing thing called social media.

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Post ID: @Cfww+15Hh1odA

If Google is involved pretty. sure the media and marketing will show they are number 1. Regardless.

Deceiving

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Post ID: @zzdc+15Hh1odA

The best thing they could do is get rid of all those people writing memos and speeches and let the guy actually talk. He is great when he gets to say what he feels but there are too many know nothing communications people without any real idea on how to talk to people giving advice.

Here's to number 2 losers

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Post ID: @pfun+15Hh1odA

Heck, the agents are the ONLY thing keeping this sht show from total collapse.

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Post ID: @gpks+15Hh1odA

OP post is just stupid. But any post that starts with “I hear” generally is.

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Post ID: @bhdw+15Hh1odA

I think customers and folks are catching onto ads, marketing amd targeted marketing practices and algorithms. The communications and campaigns get tiring and too widespread and people are smarter Now

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Post ID: @aknk+15Hh1odA

Tipsturd couldnt lead a girl scout troop. Check that should be boy scout troop if you get my meaning.

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Post ID: @8ycz+15Hh1odA

If your busy always looking in your rearview mirror then who's watching for any obstacles ahead??? CRASH!!!!

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Post ID: @8vcu+15Hh1odA

But hey, what about the awesome graphics and decals on the car?

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Post ID: @5gcl+15Hh1odA

OK. Racecars! What happens when you're racing and you focus on the rearview mirror? That's SF! They got rid of their talent to be competitive. They no longer have torque, horsepower, the driver, and a pit crew. Can't win a race that way.

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Post ID: @4rak+15Hh1odA

@1yhx......because SF is growing very slowly, while competitors are growing very quickly. Think race cars. The lead car is doing 165mph. But the second and third place cars are doing 180.

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Post ID: @3blx+15Hh1odA

Growth......if SF is growing why are they go to #2?

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Post ID: @1yhx+15Hh1odA

You'll grow no doubt but will you be able to have an operation base to support and keep and support the promise? Doubt it.

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Post ID: @1cbd+15Hh1odA

Dont be fooled. Our competitors "work numbers" too. This is about growth: who is and who isn't growing.

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Post ID: @1ira+15Hh1odA

Value to #2 or #3 sooner than expected. Get rid of the good people and pay the slackers!!

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Post ID: @phc+15Hh1odA

Anyone can work numbers, but understanding the values that create the numbers is key.

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Post ID: @hij+15Hh1odA

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