Thread regarding State Farm Insurance layoffs

Risk management company fail

Selling more policies year over year while letting the staff dwindle seems to be a blatant breach of the contract, the promise to service the customer when life doesn’t go right. It’s as simple as that!

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Post ID: @OP+1h82doak

13 replies (most recent on top)

Strange discussion, I'm not sure either person arguing even works in insurance, let alone SF.

ALL customers want the cheapest price, but when a claim happens expects 5 Star service. To think otherwise indicates you don't work in claims.

Both of you need to stop posting here.

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Post ID: @2yky+1h82doak

@hoz-so apparently your comments on “people shop on price” was just BS-like your usual comments? And LOL you have never eaten at a 5 star restaurant in your life. You are a Mickey D except for big anniversary celebrations when you splurge on Chili’s.😂

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Post ID: @llg+1h82doak

@kii YA DE DA! That has everything to do with serving MacDonald hamburgers and absolute zero to do with the internal and external customers ability to live a quality life. Another bean counter approach. As a SF policyholder I don't mind paying for quality service especially when I'm at what is called a 5 star restaurant. If you want that BS be a manager at a MacDonalds.

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Post ID: @hoz+1h82doak

What a simple mind. Every competitor is raising rates. Stock companies are leading the way and raising them more aggressively because of profit and earnings per share targets. Miles driven has returned to pre pandemic days, Materials and labor are up and impacting every carrier. SF will not only remain competitive but will likely widen their position against stock carriers. Plus, history has demonstrated a post convention production bump 100% of the time. Sorry, but SF is going to have another great growth year. The challenge will be matching rate to increasing frequency and severity that is plaguing the industry.

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Post ID: @kii+1h82doak

“Rates are around 20% lower today than they were 5 years ago. And if the customers thought they were being treated so badly, we wouldn’t be adding so many more than the competition.”

Correct. Insurance is a commodity and people shop based on price since they typically don’t have anything service-wise to go on until they have a claim (which takes time), but we’re now seeing the effects of all that unprecedented growth (purely based on price) and our inability to keep our promise (because claims is so grossly understaffed), which is why we’re scrambling to staff up in claims and we’re having to increase our rates. Once our rates go up, that’ll be the end of all this glorious production.

Anyone who actually believes we'll be able to achieve the ridiculous growth goals they’ve set for us this year must’ve gotten stuck with the Joker instead of playing with a full deck.

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Post ID: @hst+1h82doak

Think of Jack Welch. Trading the future of the GE for short term gain and his own narcissistic purposes. Sad.

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Post ID: @apn+1h82doak

They are trading policies for quality workers. Its fine now, but will have long term and major consequences for the company. Tone deaf management cares only about metrics, there is zero regard or respect for the claim handler. I guess the situation here is the policy holder and the executives don't care about quality claim handlers, and will get their cheap, poor quality work force. I wouldn't want a policy here and I work here. No one sees that as a major problem. Enjoy the good times executives, enjoy the cut rate premiums customers...its not going to last or end well for either of you.

Insane only 10 years ago this company was a big happy family.

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Post ID: @wxd+1h82doak

Rates are around 20% lower today than they were 5 years ago. And if the customers thought they were being treated so badly, we wouldn’t be adding so many more than the competition.
“I stay with my insurance company because I love the way it treats it’s underwriting support employees”, said nobody, ever.

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Post ID: @ybs+1h82doak

Employees are expensive. I’ve let them dwindle on purpose. How else do you think I’ve been able to lower our prices, reach unprecedented production, and write my own $20M+ bonus checks? Just so you know, my bonus checks are based on production, not employee satisfaction or customer satisfaction. It’s as simple as that. All my best.

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Post ID: @evh+1h82doak

Yep and being a mutual company where the general principle is returning the profits back to policyholders in the form of lower premiums hasnt been followed in over 15 yrs…..and mutual custoners havent seen any dividend refund checks in a long time..but when you have a bean counter as ceo it is evident what is going on……over $20 million in mip payments to him for 2021 when the company netted over 2 billion….really ?

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Post ID: @dco+1h82doak

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