Insurance Business forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Insurance Business | 30 Mar 2017, 05:30 AM Agree 0
Company has yet to realize positive revenues after it acquired firm in 2011
  • Art Wheeler | 01 Apr 2017, 09:33 PM Agree 0
    When is the Board going to realize that Tom Wilson does not have a clue on how to run an insurance company and needs to go away. This man is single-handedly destroying what was once a great company and it will be once of the next companies to go out of business. Look at the number of polices in force today compared to when this idiot took over. If you are still employed, get your resume up to date and start looking for a new job before you are told to leave like several thousand have been since Wilson took over. Look at the employees who are left; they are the ones who are nearing 55 and 20 years with the company or are just joining the work force. The rest have already jumped ship. The moral is terrible as everyone waiting for the next reorganization and more are let go. The reason that there are not more announcements like this one is they downsize on department at a time so the number of people don't need to be reported.
  • | 03 Apr 2017, 09:10 AM Agree 0
    This hasn't just happened. Allstate hasn't known what it wants to do for many years. CNA personal lines was a good company until Allstate purchased it and they ran it in the ground. I never had so many promises made from a company in my 44 years in the insurance business as Encompass made. None of them ever materialized. Almost every employee with Encompass was a former Allstate employee and they made some of the dumbest decisions I had ever seen. Typical Allstate.
  • Jake from State Farm | 04 Apr 2017, 12:21 PM Agree 0
    Guess you are not in Good Hands
  • La Flo de Progressivo | 04 Apr 2017, 05:06 PM Agree 0
    It's time to become Jack Sparrow and jump ship!
    • | 11 Apr 2017, 12:21 PM Agree 0
      Wearing an apron and a hair band like a diner waitress isn't exactly "progressive!"
  • | 08 Apr 2017, 07:11 AM Agree 0
    The Esurance purchase was doomed from the start. The artificially low rates a neophyte staff a non- consultative selling approach the typical Allstate approach of doing it on the cheap with incompetent management = adverse selection, poor retention, high loss ratios, poor service, and ultimately failure. The Company did a major disservice to those who lost their jobs.
  • | 11 Apr 2017, 12:15 PM Agree 0
    That was really Khaki...I mean tacky!
  • jefery cee | 12 Apr 2017, 10:56 AM Agree 0
    wow So, to offset $124,000,000 in losses (just to be at 0)they are going to cut 100 jobs! ? That is over $1,000,000 per employee. That must be some pretty good jobs !
  • Snoopy | 14 Apr 2017, 10:44 AM Agree 0
    In 2016,MetLife sold 4500 financial agents to MassMU. Literally sold them like cattle or should I say chattel. Yet MetLife kept the book and transferred it over to a new shell company called Brighthouse Financial. Maybe to shield the remaining MetLife company from any adverse affects of al the variable annuities they wrote? Plus they fired Snoopy. Insurance is brutal
  • Ryan | 18 Apr 2017, 03:52 PM Agree 0
    Allstate is a hot mess. I wish the remaining agents the best of luck in the coming years.
    Paid one Billion dollars‚Äč,a hundred twenty four millions in losses.Hmmm, I wonder how many years they could have paid their Retired Agents life insurance benefits?

  • | 27 May 2017, 05:38 PM Agree 0
    And Tom Wilson still gets a bonus! I was one of the thousands who was unceremoniously let go. They say they so it with dignity and respect. Hah! A manager takes you into a tiny, privacy room, not even a meeting room, with an HR rep and delivers the "news". You then have one hour to clean out your desk. Fortunately, so manny of us saw the handwriting on the wall and had already cleaned up. Yep, eSurance seemed to be an unreasonable gamble from the beginning. And who can ever forget how Allstate was going multi-national, multi-line, multi-this and multi-that? A big International division was set up in Home Office and people were getting free trips to Europe to "set up" insurance operations. Before any sales got underway, they pulled back and stopped all international efforts (except Canada) and said they wanted to focus on their core business. Wilson spun around on that one faster than a ballerina! He's getting away with a lot while doing the "Northbrook two step".
  • Bleh | 14 Jun 2017, 06:34 PM Agree 0
    Wilson is out, it's Shapiro now
  • Anomoyous | 14 Jun 2017, 11:16 PM Agree 0
    Allstate Mass Firing - Nationwide - 6/14/17... 5 minute, one-way phone call to advise thousands of Allstate Employees that they were laid off.... short it was nothing less than a Genocide.

    I feel devastated for myself and other long-term employees who committed their time and lives to this company, but even worse for the unknowing insureds and customers. QFC is the next McKinsey file. It can't and will not work in this or most markets. Send a picture - QFC will write the lowest estimate possible; then Allstate will delay, deny, and defend.....and now there will be zero face to face handling; zero of that community-commitment they love to sell to the public. And isn't it easy to say "no" with an empty smile over the phone -1500 miles away. Through the genius of QFC - now an insured can willingly say its OK for someone who isn't even licensed or trained as an appraiser or adjuster in their State to write an estimate. And for the long-term-happy-customer that isn't tech savvy, Allstate may even send a glorified photographer (with no auto adjusting experience) to take the pics for them (if they are lucky). And the DOI's are seemingly sold on the benefits of this "service"? How much money and influence does it take for a fellow employee to sell-out? Or for the advocates of the consumer in the DOI's to sell out? How long before the public understands the fraud involved? This company has so amazingly exceeded all the nightmares that I have defended against as even existing- (until I came to work here). Its like a Grisham novel on steroids.

    Seems Sharpio is picking up we're he left off at Liberty Mutual, by destroying another company.
  • former Esu'er | 18 Jun 2017, 02:28 PM Agree 0
    There have been additional shakeups since the layoff. An in depth on the CMO and VP of Dev "leaving" is in order. Esurance is paying for its long standing technical debt with equity it doesn't have.
  • Gary Ott | 03 Aug 2017, 04:12 PM Agree 0
    If you look at Allstate's financial reports you will see that the negative comments are unjustified. We have a solid company and we are running strong, I have been an Allstate agent for 48 years and have been able to raise a family and a good life for those years.
    • Jerry G | 11 Aug 2017, 06:44 PM Agree 0
      With all due respect Mr. Ott, you are an Agent and know very little about the most profitable way to process a claim. This will blow up in Allstate's face with huge increases in Average Severity, increased cycle time while shops wait to get approval for everything that is required to properly repair vehicles and watch Allstate's reputation and policyholder base continue to plummet.
  • | 08 Dec 2017, 02:49 PM Agree 0
    I predict Allstate will be a direct writer in the soon future. Not at all the same company of 20 years ago
Post a reply