Thread regarding State Farm Insurance layoffs

Just look at last post pseudonym and draw your own conclusion regarding his intelligence and integrity. As many have pointed out he is just making stuff up and providing fake fact sources. Another troll.

Go easier on the the tip next this time..little less teeth please!

https://infogram.com/265bb2e4-270c-48ab-97d3-fe9ebe40f453
https://www.chicagotribune.com/business/ct-state-farm-earnings-20170228-story.html
The 12 billion dollar losseesss!!! But sounds like you do AOC math/tax math running AMAZON out of NY!! Derppp!!!!!

Same Difference!!! 1.4 million auto. 490K in 2016 and 907K in 2017.
Again..... Re---d!

Geico and Progressive have auto grown SF every year for the last 20 years...your clueless! Re---d!!!
https://rationalwalk.com/examining-progressives-competitive-position/
https://www.carriermanagement.com/news/2019/05/06/192999.htm
You can do your own Univ. of Phoenix math from 2015 to now! AINS here you come! DERRRPPP!!!

Just two insurance carriers – GEICO and Progressive – snagged nearly 92% of all premium growth last year, according to a new study by J.D. Power. You are a re---d!
But hey..... we beat Geico last quarter....LOL! Hey that pretty girl looked at you too, I bet she wants to get married!!! DERRRPPPPPP

https://www.insurancebusinessmag.com/us/news/breaking-news/geico-and-progressive-lead-us-auto-insurance-growth-221266.aspx

Why are you guys engaging with this tool? If we were all out drinking he would be the one under the table kneeling.

@5jcv+1aDBpmSU. You also fail to recognize that to have a successful and profitable corporation, you have to have a certain level of quality and employee satisfaction. Otherwise, it is a sinking ship!

Lastly, did you know State Farm’s target auto Combined Ratio is 104% due to our mutual structure and investment portfolio? This is directly from the CFO. Of course you didn’t, and you know nothing about running a multi billion dollar org.

The same fool is in this thread spreading lies about losing 1.9 million autos. We GAINED 457k autos two years ago. The largest auto loss was 4 years ago and was -907k. SF also never lost 10 billion in a year. GNW has gone up every year since 2008.

You literally have no idea what you’re talking about and couldn’t read a financial statement if it were written in color pencil.

Exactly, it wasn’t a local agent or op center that paid Barry Manilo to create the State Farm jingle. The dude is a tool.

@4ckt is an id--t and full of sheet. SF had national commercials on the TV and radio in the 1950’s. It was in national print-think Look Magazine back in the 40’s. There was a corporate marketing function in the 1970’s. Prior to that it was simply a function embedded in Agency. Don’t believe one thing this d-mb as says.

Oh please, Buffett has had a difficult time beating the SP 500 index for decades now, give it a break. I bet you got your azzz kicked on a regular basis through school.

And 1 more thing...SF did not have a Corporate Marketing Department until about 9-10 years ago! It was determined by Zone/OC groups and mostly in coordination with the AFOs. Agent's were expected to market to their individual market areas and was not dictated by a corporate department. We basically had no national marketing campaign and was all focused locally! The ole agent's on here and tenured employees know that one!

If you have better then post it! Fakersss!!!!! All publicly available information!

https://infogram.com/265bb2e4-270c-48ab-97d3-fe9ebe40f453

State Farm's Ups and Downs above explains it for you trolls!

Again let me help you folks ....so small and narrow minded and will clarify. Forget 2020 and 21 from an expense standpoint...freq down, we gave back billions, as other companies did, and expenses and business will not be normal for awhile. When Covid is done and all things are open/hiring/travel we can talk, you have to live in the real world. Oh...Stop saying .....well last month or this quarter, just ignorant as this industry and business works over years/time. I can tell you about the Big Dog campaign 20 years ago that lasted years and we crashed!!! Yes.... you may of had an uncle that smoked 4 packs a day washing it down with a bottle of Jack and lived to be a 1000.... but the other people 150 million people that tried it died of cancer and liver failure at 40! Stopping having the troll disease! Everyone knows a guy ...who knows a guy ..who heard once... from a guy he knows!!!!!

End of 19.....
S -5 avg year combined ratio is around 107
G -5 avg year combined ratio is around 97
P -5 avg year combined ratio is around 93

In 2019, 9.4% of State Farm employees quit their jobs, compared to 3% of Americans who quit their jobs in August 2019, the highest quit rate recorded by the Bureau of Labor Statistics. State Farm workers with longer tenure are more likely to stay: The share of employees who quit with five to nine years with the company is 1.2%, while employees with 10 or more years is below 1%.
Let me interpret for you..... SF is a sh-t ho-e place to work!

In case you want to know where this information came from trollsss!
https://lethal-industry.com/business/how-mentorship-guides-victor-terrys-initiatives-as-state-farms-first-chief-diversity-officer/

Hate to be that person but again please stop posting stupid stuff about we beat Geico last quarter. We are growing blahhh blahhh...two year ago we lost 1.9 million autos, if you have forgotten. in 2016 and 2017 we had a 11-12 billion dollar loss.. the LARGEST in the history of SF. Geico and Progressive have outgrown us every year for the last 20 years! Progressive is still out growing us and will continue! Doing good for a quarter or a year or two is not comparable to taking market share/growing premium every year for 2 decades people! We have only grown a million autos 3 times in our history!!! Geico and Progressive have been growing between 1-2+ million every year for the last decade. Please educate yourself before you post!

https://www.insurancebusinessmag.com/us/news/breaking-news/state-farm-could-lose-top-auto-insurer-slot-to-geico-211990.aspx

Warren just reiterated this WEEK all what we know! Sorry I trust one of the most legendary investors and business men in the world over all the self proclaimed ni---e twisters on this site!!! LOL! Oh..but id--t....we beat them last quarter so see there you are wrong...LOL!!! DERRRPPPPPP EERRPPP

https://news.ambest.com/newscontent.aspx?refnum=233143&altsrc=175

Come on let's hear from that guy.... I'm still a tool!!! I know.... I have a good idea let's add more agents!!! DERRRRRPPPP!!!! Maybe Amazon should shy away from that trendy internet on-line ordering gimmick thing a-ma jig!!!!

If you need more reading on why most of us will be done soon including agents here you go! This was shared with everyone at SF!!! They aren't getting to a 40% expense reduction by reducing ILR and Express associates! Again Tipsy will put his hands on your shoulders soon enough!!! Relax...an agent buddy of mine says it hurts less if you take a deep breath first.....

https://www.mckinsey.com/industries/financial-services/our-insights/insurance-productivity-2030-reimagining-the-insurer-for-the-future

Peace out!

Its sort of puzzling, the insurance company that was #1 by a long shot up and decided to follow its middle of the pack competition in how it treats employees and how it pays them, even how the work is done, and is now struggling to maintain its positions. Its crazy, almost like trying to emulate inferior companies has inferior results.

Yeah its a metrics based company now, with a numbers guy, who would torch this institution to get a number to go up if the could...and is....

OP knows insurance terms but has zero understanding of how an insurance company actually works. May be a troll pretending to be an employee.

I’m scratching my head. The OP, and several others, don’t seem to know what our combined ratio is. It is NOT 107%. Auto was 91% in 2020. Fire was much higher due to the CATs. The combined P&C ratio was a very good 97.1% in 2020 which is why we made several billion in profit, combined with the Investment portfolio. Through Q1 2020, our combined ratio is in the low 90s. I know this for a FACT.

SF grew and astonishing 1.1 million autos in Q1 and another 700,000 fire and life polices. Progressive was the only company to outgrow SF. We trounced Geico, who only grew 250,000 autos in Q1.

The OP claims ET and Marketing are “new” positions. Huh? Marketing has always been around and ET is simply the new name of the old Systems and ISD departments after they combined during a transition plan 3 years ago.

The guy sounds about like every sales leader I ever had, they know it all, rocked it all then on day they wanted to make a difference and went into leadership, when that did not go as planned went back to agency on a worse contract than they left on and could not cut that so went back to an internal position to try to make it. We all know these super successful guys.

Perfect! Just absolutely perfect!

The dude is unable to put a coherent sentence together, do you really think he has a clue? And NO successful agent ever went into leadership. You are netting 200-300k and wake up one day to take a 150k leadership position where your destiny depends on motivating 25 agents to push the dog sht product of the month so you might bonus? Yea, sounds like the promised land. For the record I know you, you have not been successful at anything you have done.

I am embarrassed that SF would employ someone like @3dpv. Hopefully they will remedy that soon.

Exactly @1zob+1aDBpmSU

Craftsman, Matco, Husky, Dewalt, Snap-On, Kobalt, Rigid..... LOL!!!! Again....par for the course! Perfect!

Actually for the record....was very successful in Agency and went into Leadership. When they reshuffled I moved on and went back into Operations...by choice. I had my AA05 contract and as you know that contract never goes away. Hence why Agency Leadership can take over basically any book they want when it comes up....do not have to go through process again. I make more money now and used the money/contacts from agency to start another business. ( as any smart agent does). In a few years I will draw a fantastic SF pension, huge 401k, and all the passive income from my business and will still be a young enough to enjoy it! Wait until you see that new contract they are going to role out.....Claim Specialist here you come! I actually feel bad for all the agent's not prepared....there are a few good ones out there but not many. Ohhhh and we do agree operations is a disaster but no such more than agency. They hire the same caliber people operations does! Again remember when you feel that warm... burning.. pounding sensation and ole Tipsy puts his hands on your shoulders!!!! For some of you it will feel like the good ole days!

When you got out huh? You really mean when you did not make the cut for agency right? Come on we all know the truth, lacks “ entrepreneurial spirit “, not a leader, lacks business acumen. Sound about right? Yea, and the hubs are running so smoothly, you file a claim lately and had to interact with any of them fools? Yea, the company has it figured out, and you are still a tool.

LOL!! I love it, you can tell when you fall exactly in line with the name calling.... Just Classic.... See all the information provided can be found on SR or ER websites internally... it takes about 10 minutes and is out there for every employee to see, it's no secret. Agency was blown a long time ago when I got out....SF, Farmers, Allstate, Nationwide...everyone now knows it is a scam! Used to be the best of the best.... now it is Agent Aspirants and anyone else they can find selling cars off a used car lot. Hmmmm let me think the two largest growing auto insurers in the United States, Geico and Progressive, do not rely solely on an exclusive agents and have gained market share every year for the last 20 years. All the exclusive agent companies like SF, Allstate have lost market share...every year for the last 20 years... wonder which model works best? I feel Kmart rising from the dead....maybe Sears and JcPenny too.... I bet Amazon just called an emergency meeting....ha ha LOL!!!! Agency adds zero value....that can't be done at at 1/10 of the cost! Once Tipsy get's the contact centers consolidated and make good on his multi-channel distribution system..I will check back with you. We can teach a d-mbarzzzss Express or ILR employee to take a claim, add a car or process a payment just as easy and an agency office can. They won't manipulate drivers, add discount that don't exist or put in fake prior insurance information to bring down the CRI. Gotta love agents!!!!

3u bt fk, get back to the shed tool, and definitely not the sharpest tool in the shed either. The last poster is much closer to accuracy, the gross number is high if you average all 19000 agents,Trust me it’s far from the gig it used to be. We just had three agents in our market area resign in the last 60 days to go independent. That never used to happen.

It’s possible that the average agent GROSSES $390,000. They use a large chunk of that to employ and average of 3 plus full time employees doing State Farm’s business. They also pay all the payroll taxes for those employees. In addition they pay office rent or mortgage, utilities, considerable individual marketing and advertising. When all is said and done, the average agent NETS in the neighborhood of $150,000. No retirement or pension unless they save it. So it’s no more lucrative than a lower mid level management job at State Farm. Much much much more personal risk and responsibility. They do it because that’s the kind of people they are…and they give up a lot in order to have a modicum of freedom. But from a financial standpoint, it’s absurd to say SF employees are supporting agents. Especially since agents employ more people helping customers than State Farm does.

You can always tell by peoples reactions when they get owned! Then back it up with something other than a 3rd grade comment. Meds, tool, id--t..LOL! Since you are alllll so educated about the business...... but the only thing you do is ever just troll and post nothing of any value based on real numbers/math or any knowledge....other that what you heard from a buddy! Classic!! Der daaahh Derpp Daaa Doooddaaa...I will make another brilliant comment maybe even call em another name..that will show them how smart I am!!

2ciu = mo--n, I am long time agent and I can assure you your percentages are not based in reality, and if you believe State Farm has too many employees supporting agency, how many do you think they would have to have without agency? You my friend are what we in the trade refer to as a tool.

Good Lord, this is the 3rd time in 3 days this diatribe has been posted. Check your meds! Thank you.

@2ciu- I don’t believe you are real, LOL. Just a bloviate begging for attention.

For those that think growth is real please please don't say welllll last quarter or the last two years etc...please stop and think before you comment. Real growth is sustainable growth. Not beating your competitors for a quarter or a year or two. It's like saying/celebrating we gained more first downs in the 2nd quarter but they have still beaten us 15 straight games. Geico and Progressive and have grown 1-2 million autos every year for at least the last 10-15 years! We done it 3 times in 25 years!

It varies by small amounts but here is what you need to know- At at 107-108% Combined Ratio
67-69% Loss Ratio/claims- depending on the year-this changes very little per company-accident trends/loss trends are pretty constant unless you focus on higher risk business. (SF tried this and got burned several year back as Tipsy even admitted)

37-39% Expense Ratio-See Breakdown
Agency-13-15% on every dollar
Marketing- 11-12% on every dollar
Employees/Rent- 10-11% on every dollar
Taxes and Fees: 2-3% on every dollar

So we can grow for spurts and even longer if the market holds together. Yes we price our business at a loss and try to make up through investments/stocks...but you can't have this as a business model because the market goes up and down. Stock/mutual... Geico and Progressive can go lean in down times without losing money. We can't!!!! We have to burn surplus or raise rates! When you raise rates then you loose your best customers as they shop! So I could care less if you love or hate SF, at the end of the day our Execs are going to continue to use a scorched earth policy with employees and work conditions and not touch agency. They will burn it down before they stand up and do what needs to be done. Automate all that can be automated...and you fired 1/2 of all employees SF would still have to price its product at a loss to keep a growing agency force. Remember the average agent receives roughly around 390K a year in compensation and we have 19,000 agents and counting. Plus the cost of SF employees to support them! Having to pay 8%-16% on every auto or fire policy sold/renews, when your competitors don't, you will never be successful in the long run. You might win a game or two but that is it! Math does not lie........ SF will continue to be a he-- ho-e place to work. They will pressure test every segment, if they get a leak or a pipe burst they will just patch and move on. They won't turn down the pressure!!! Sweep the corpses to the side and keep on moving! Nothing to see here.... and send out some huddle message points, forward a D&I article and the last (bought) cr-p article that says SF is a great place to work!

Maybe AI in executive office would be better. Just saying.

SF is probably betting on AI taking over most of the jobs in the future. The only employees that will matter are a handful of computer programmers that can create technology to handle the claim exactly the way MT or the next CEO wants things to be handled.

Whomever it was that said it was "never a better time" must be less than 7 years in or not in claims or underwriting.

I say this as respectively as possible but if every employee took their business elsewhere and told all of their family and friends it would be such a tiny number compared to the size of the organization it would not even be noticed in results. SF receives 10s of thousands of applications daily. There is over 70 million policies in force at any given moment. They would prefer that not happen but from a scale standpoint not a huge problem.

@1xbn+1aDBpmSU There's also a likelihood that SF will continue to lose current and future policyholders through the employees it keeps mistreating. The company has probably lost a significant number of employee-owned policies over the past several years. Every time SF cycles through it's employees faster than the weekly trash pick up, more and more people will be left with a negative opinion about the company and will likely not purchase a SF policy. I switched from SF to another carrier once I realized that the operating model was not about providing quality service to its customers and is just about the metrics. Why would I want to give back part of my paycheck to a company that is more concerned about profits over its employees or their customers. I will never go back to SF as a policyholder.

1xbn. You fail to address how making such huge profit at the demise of the employee is ethical. Watch what happens to Amazon over time. FYI....I don't and never will support Amozon.

Seriously, if you think customers are paying attention you are incredibly naive. How many many customers has Amazon lost over their severe mis-treatment of employees and vendors. Fed Ex?

It's not whether or not you made profit. It's how you affected your brand. Without a doubt, the SF brand has been seriously tarnished by the way they cut expenses. Whenever a business cuts human capital it will eventually catch up and it will take 10 times plus 10 times both in money and time to make up for it. Remember! They may have made records BUT at who's expense? They forget that. The one's who paid for that huge kitty won't!

If combined ratio is your definition of success-just increase the denominator through rate hikes. If you want to achieve it through the numerator then lower expenses or losses. According to NAIC information SF outperformed both GEICO and Progressive on the loss ratio front the past several years. Seems like expense may be the greatest area for improvement.

In summation, OP seems to feel that “real growth” is defined by a low combined ratio. Which is an odd position for somebody arguing against all the measures that reduce expenses.

The op seems to be somewhat confused. Somehow alluding less employees or emerging departments means actual growth is not real is absurd. Whether you hate SF or not they are currently experiencing record auto growth-and with a profit. They actually outgrew GEICO last year and extended their lead slightly over the number 2 competitor. Time will tell if they can sustain this level of growth. Right now, based on production, profit and financial strength it looks favorable.