Now that the company has made a business decision that they feel will contribute to future profitability.
Laid off employees who currently carry Allstate policies will need to do the same. Currently, I insure 4 autos, one house, one rental property, umbrella and a life policy. I carried this business due to loyalty to the company that I work for even knowing that I likely could find cheaper rates on all of them.
If I am laid off, all loyalty ceases and I make the “business decision” that will optimize my personal “profitability.”
Loyalty is not and will never be a one way street.
8 replies (most recent on top)
I agree with you that Tom is concerned about the margins..However, there is only so much market share that you can lose before your margins are adversely affected. There is only so much expense that you can cut and still run the business and there are only so many customers that you can lose until your bottom and top line suffer.
So, at the end of the day, you need to keep those dollars coming to the top line or you will be forced to raise rates to get those valued favorable margins.....and we know how that will turn out....
News Alert! Thomas J Wilson does not care one bit about retention. He will probably do a .75% rate increase across the board to adjust for the policies he looses. He cares about Margins and making $500 mil per quarter. Sprinkle the infield with some company lay-offs to add to the bottom line. Toss in another $750 mil stock buy back You got a pretty good quarter. Don’t waste your time dwelling on this thread. It’s a well intended thought but very fruitless.
yes - me too
I'll see your 4 automobiles, 1 homeowner, 1 rental property and 1 umbrella policy and raise you a rental property policy. All of them will be moved to State Farm, Progressive or Nationwide in the coming weeks. While I'm at it, all of my options will be sold while they still have value. Tom Wilson is looking like a meaner Don Trump, if that is even possible.
I agree. Company has taught me well in regards to solicit the most economical means, demand the most from it. That being said I will have to drop Allstate from all my personal property as they will not meet the requirements.
#Boycott Allstate
Especially knowing how your claim would be handled if you ever needed them. No thank you and not worth their price.
Cool story bro