41 years in Underwriting. Any news?
25 replies (most recent on top)
Underwriting has about 18 months before the rollout of Guide wire. You should hear something by third quarter this year. Major cuts will be likely by 2019 mid to late year or very early 2020. So save money now.
Sweaty - mean and uncalled for. You have no place here.
And my oldest, well, she’s a testing manager, in the clinic now gettin cured of the Wild Turkey
A lot of younger people don’t understand the unexpected expenses of life that can set you back financially for life. My personal medical expenses have exceeded tens of thousands per year. Don’t get cancer and find out your expenses aren’t all covered. Don’t you think most people would retire at 55 if they could financially. If you think the average person with health issues can afforded to retire at 62 think again. Medical expenses will eat up everything you have saved. For the mean spirited younger folks out there count your blessings. Even FMLA isn’t saving long term employees from getting the boot.
When the Guidewire rating/policy issue system is rolled out to both auto and fire in the next couple of years, it will eliminate many underwriting and service related jobs in underwriting. Since it is an outside company building the system (not SF IT) I assume it will go well. I'm a 25 year employee in underwriting and so far not impacted by the cuts. I get the $5,000 deductible pain. It hit my family the last 4 years with family illnesses. We are still paying off the medical bills and will be for the next couple of years. SF has screwed employees/families the last 5-10 years with the large deductibles. This says a lot about how SF thinks about their employees, while they continue to amass wealth and growth and make the employees take a large deductible to help them save a few dollars. I wish everyone the best.
Apology accepted. I don't believe our co-workers are being mean or selfish by choosing to stay. Maybe they didn't plan well enough for retirement, maybe they have family issues none of us know anything about, maybe they have no plans for the future and they are afraid. Maybe they paid out a $5000 deductible two years in a row like me because our health insurance is terrible and are trying to recoup. Never in my wildest dreams did I EVER believe this would be my State Farm. Things were a lot different in 1976. My heart breaks that hundreds of our co-workers have a uncertain future. I am choosing to believe that we will all be OK.
To 41 years, I actually did opologize about being harsh to you on another thread but the the thread was deleted. I was upset as many are that have 30 years in and only 51. I am screwed as I can’t even take the miserAble excuse of a pension at 55 or tap into my 401k for another 8 years. I work with some people that are 62 and are still not going to opt out and they can retire with full benefits. This is were my anger came from, and I don’t know you or your situation and again I do opologize for that, but there are some people just being greedy when they can take the full retirement and a years severance and choose not to when a co worker really needs to work longer. Good luck to you and please accept my apology
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I think I saw a documentary about policies your wrote on some cave wall in France
TO “you make me sick” knowingly nothing about me nor my situation your comment was rude, mean spirited and unnecessary. My hope is you have thought better of it even though there will no apology. Are you really condemning me because I worked for State Farm for years ahead of you? Wow. This isn’t the way I would have chosen to leave this company either BUT I have worked hard to earn my retirement, my full retirement and I plan to taking full advantage of what I have a right to.
Wow. Some jerks in here, that's for sure. Congratulations for 41 years. I'm guessing you are a USA as I can't think of any underwriters that have been around that long.
I was a USA for a long time before moving into an underwriter role, and finally into systems. There are a number of folks I can recall that had 35+ years in. All extremely hard working, dependable, honest, and caring people. I don't think your being "selfish" or any of the other hateful things being said to you.
It's funny that so many people here tell you that you should retire or whatever. I was just talking about how many old friends from auto had 3+ decades in. The person I was talking to said the same thing. That they should just retire. I said one of the problems is that it's easy to say when you start your career in systems making $60k+ a year and you're in 6 figures by the time you're ready to retire. Heck, I know probably a dozen people maxing out their 401k every year. Anyone with half a lick of sense should have been able to save that money and plan for retirement, so it's easy to say when you're in a position to save 10s of thousands a year.
But look at top salary for our PA level jobs. It's a whole lot harder to save that retirement money. That's part of the reason why we have quite a free people with 35+ years in at those PA levels. And lots of them started at 17 years old as well. So even if they wanted to retire they aren't the age that they can do so without penalty. Stop being trolls and have some respect.
@S736Qr0-2wxi - The retirement is based on two criteria: Age - with the ideal age being 65 or if you meet the 2nd criteria, at age 62. The second criteria being credited service with 35 being the max calculated. There is no difference in your retirement if you have 35 yrs service at either 62 or 65. You can go to the plan documents out on Aon Hewett's web site and calculate for yourself. For those of us working a lot of overtime, this is all counted toward your retirement! Also, your retirement is based on the top 5 years of earnings and this is not calendar years, but consecutive days. In my case, I worked a number of in-zone CAT's and always volunteered to go help out other people. It will boost my retirement by over 25%!!!
it is important that everyone look at the retirement calculator and see your payout at 55, 62 and 65. it’s eye opening to work somewhere 40 years and you only get 55 % of your pension. it’s not 55% of your paycheck. if you were grandfathered in for medical your benefits use up most of your pension. i have worked hard in underwriting and have an exemplary carrier being forced out before i was ready. Good luck to all left behind sad that a once excellent employer is now more concerned about the executive paycheck than the customer we are insuring.
I’ve heard at least two years but not five left for Underwriting?
I was going to work here my whole career but with the layoffs and mismanagement not so much. My area isn't impacted yet but I'm ready to bail if I hear the ax grinding.
Wow! State Farm is going to be better just because “some” of you will no longer be working there.
And then non renewing them. There has been nothing valiant or cosmos em-bettering in underwriting even if you started in Lloyds coffeehouse and never left.
To " my personal longevity and serenity are of far more importance than walking in the same door for 4 decades", then what is the problem and why are you here? Leave. You obviously are here for nothing more than a paycheck. Trust me, there is personal serenity in handing a claimant at check after they have lost everything in the Northridge Earthquake. I know.
"Do people just go from job to job with no care for longevity?" They do, but back in 1976 before many of you were alive it was a different State Farm. I am not alone, many of my co-workers have 25+ years. Loyalty meant something to my generation. For those of you with less that 20 years with the company, you are young with many opportunities before you. Always have three things, money in the bank, marketable skills and an updated resume'.
"Do people just go from job to job with no care for longevity?" Yes, my personal longevity and serenity are of far more importance than walking in the same door for 4 decades due to some perceived need for the ritual.
41 years is amazing I can believe the comment in here about being greedy and whatever for being with a company for so long! Do people just go from job to job with no care for longevity? I have been with the company for 11 years as a USA in auto and I still have no idea if we are effected or not, im just going to hang in there as long as I can.. these situations are stressfull,but the Farm has been good to me, there have been quite a few changes that i disagree with BUT they give me a paycheck so Ill just go with the flow.. good luck all with whatever our outcome is!
When you don't know the life circumstance of the person for whom you make the rude and necessary comments shame on you. Anyone that works for a company for 41 years deserves the full retirement they earned. State Farm continues to deposit money in my bank account every two weeks and for that I continue to be grateful. Do I like/appreciate what this company has become? No. Would I recommend it for young people just starting out and are looking for a career? No. This site has no place for rude trolls.
OMG. 41 years and still putting up with this crap when you could retire. There is a word for that. I think it's STUPID.
poor reply to 41 years, if you started with h the farm at 18 like many did you have 40+ years but still dint quality for full retirement. you should know the audience before you make a rash reply
Ignore the troll.
41 years, you should be laughing all the way to the bank. Do you want to drop dead here? Don’t be so greedy and go baby sit your great grand children. You people have it made and still want to take more while people in their 40s and 50,s are screwed and you can’t take full retirement and medical benefits and still want to work. You make me sick