I’m curious if there are any Corporate or Higher up employees that will honestly share if the agents pay will be reduced again in 2021 and/or 2022?
If you are an Allstate Agent, what makes you stay here through all this uncertainty?
14 replies (most recent on top)
who knows?? but agent comp will neve be as bad as State Farm's. they cant get anyone to sign on, and people are leaving in droves
They don't care about agents at all their last action show that and the agent channel is growing ONLY because they opened locations in dealerships. They also screwed a ton of dealerships costing millions because they had no clue how to operate. They had the original dealerships sign the standard agent contract until they realized years later that the manager on the contract owned the business not the dealership.
The poster below me is correct, online policies with Allstate have the worst retention, State Farm is getting ready for a big push on new agency locations and GEICO has quietly been adding physical locations as well.
TW's wet dream is to cut the agents. Problem is he doesn't have an clue on how to build anything. What newly developed model are they working on? Nothing that will replace the agents profits. Geico, Progressive, and State Farm are adding brick and mortar. They will offer direct and compete with the agents but no way it will become main stream business model anytime in the foreseeable future.
Agents are the only channel that TC has that is profitable. They failed miserably with Esurance as a direct line. Do you guys think there a prospects beating down the door to sign up with 1800-Allstate? lol. Most of the online customers are the worst retention and highest claims. Agents have to prospect and beat the bushes to sell policies. If the company wants to grow and take back market share then how are they going to do it without agents??
The company is moving to selling Allstate Insurance online. Brick and Mortar agencies are going away
They are obviously shifting towards online. Customers now get a cheaper price online than through agency
The company I have had for insurance since the 70's and the one I sold business for is nothing but a joke right now. This concept will be another MIT (monthly Income Term), Allstate rewards disaster (have 300,000 points and can't spend them on anything interesting), Integrated Services (well, that didn't work), DriveWise mobile (Ahh, I was charged for riding on a bus). But until some shareholders look into what is really going on and have a no confidence vote on old Tom, he won't be gone until he feels like leaving
Allstate has tried this direction before and it has not worked out, this will be the end of TW. There is a reason other companies are now making their agents independent contractors, they don't have to pay health and retirement401K, or PTO. It makes the agents responsible for earning their own money, Allstate is not going to get rid of property and employees just to turn around and hire a ton more to sell insurance when that adds a lot of expense.
There has been some communication to those that are responsible for finding agents that talk about more brick and mortar as well as a few other new programs that so far have questionable results.
I'm a 30 year agent and I'll tell you why I stay (or try and hang on...) is to protect my clients from all the BS the company is throwing at them: constant e-mails urging adopting the self service approach - dealing with auto total loss reps in India - ill informed Pilot adustors not allowing proper coverages and incorrectly interpreting the different rules each state has - trying to straighten out Drivewise debacles that happen daily...the list is endless.
Granted we will most likely be gone in 3-5 years. And I can promise every Allstate policy I have will be gone too. Many companies going on-line...but not the ruthless and nasty way Allstate has treated their employees!
Say good bye to the agents and TC must also say goodbye to Allstate Life and Retirement (ALR.) Moreover, ALR sales are not generated by the Exclusive Financial Specialists (EFS) either. The EFS position is purely dependent on Exclusive Agent (EA) and his/her relationship with the the client. EFS’s do not know how to market and generate new business. Most of the EFS’s don’t know how to make phone calls let alone generate a lead. ALR is a good profit center for TC. Wilson and Shapiro must grapple with this key issue before they k–l off the EA position.
Brick and mortar agencies will die on the vine, the ROI isn’t there according to higher ups. It takes too much money to support agencies hence the push for online and newly introduced models. Your goals will be harder to reach and your hands will be forced to sell to Allstate ultimately they will absorb your clients. Market share will increase but it will be look differently.
Tom Wilson dislikes agents and has stated so numerous times in meetings. He needs to resign so we can grow.
Anyone working in Agencies can tell that Agents are next in line. Allstate will be an online company with very very few if any agents left.