Anyone have this?
25 replies (most recent on top)
Oh its at a accelerating rate try 39% if we can’t make money in my market at that rate close up shop. We have new agents spending 8-10k per month on leads with a 48% lapse cancel ratio. THAT ISN’T A GOOD BUSINESS MODEL WHO THE HECK IS TEACHING THESE GUYS THE GREADY SALES LEADERS!!!
RUNAWAY TRAIN!!!!!!!
Haven’t seen a combined ratio under 100 in a very long time. Diving now at an increasing rate.
Geico just built a new building in my town that looks very similar to our old service centers.
@hdao....so we can compete with Allstate? The company that has recently dropped from #2 to #4? That has a higher expense ratio and a much worse combined ratio than we do? It’s Allstate who’s offering artificially low rates to try to keep up with us. And they’re not succeeding.
Data received today shows us having increasing income on the lowest combined ratio of any major player. The crazy scoring that we cannot explain to the customer seems to be weeding out the right policies. We've been losing policies (though that is turning around) but we're finally making money on the ones we have. And that will only help with pricing.
One of the gods of the old State Farm, Roger Joslin, once told me that good business is simply properly priced business. There's a whole lot of positive numbers in the current trends. State Farm was late to the "rating on data" game, but since we have more data than anybody else, it may be that we'll get better results from it.
Just so you new the bump is from lowering the rates to the point that we are losing money (funded by sf's huge cash reserves) so we can compete with allstate/geico
It's a formula that screams we need to hire more people to handle all the cr** we are writing to increase policy count! We don't have a quality claims model to support the downsized underwriting model. We add young agents who are forced to sell their wares to anyone willing to putting up money so they can keep their agency! Welcome to EOM!
I got one, if you double the coca leave extract it will sell like hot cakes, trust me!
The recipe:
Fluid extract of Coca: 3 drams USP
Citric acid: 3 oz
Caffeine: 1 oz
Sugar: 30 (unclear quantity)
Water: 2.5 gal
Lime juice: 2 pints, 1 quart
Vanilla: 1 oz
Caramel: 1.5 oz or more for color
The threshhold for the auto policy portion of the bonus is -440,000 policies, so this metric is on pace to pay out.
Stop posting trade secrets id--ts
Enterprise wide ytd auto is ~ -283,000.
HO is ~ -69,000
West Central is the only + number ytd.
I don’t have Company wide figures. But for West Central it is cleverly hidden right on the ABS Market Area homepage. It says West Central is +30,269 autos YTD.
Not true we are still losing a lot of auto policies. It may not be 900,000Like last year, but it won’t be far behind
3rd post is closest. We turned the corner a few weeks ago and have been trending positively. Doubtful that we have enough time to get back to positive for the year so bonuses will s---..
Isn't it literally at the top of the list for EIP?
Interesting that this key metric isn't front and center for all to watch. Should be at the top of the list for Enterprise performance. Tipsord should be explaining what's being done to achieve quality auto gain. He won't.
We are up 6 so policies week to date. Positive trend.
I work in sales. The answer is -540000.
Also, don't be a dumb--s and post the numbers on here if you have them.
Auto has actually gained policies the last 2 weeks. Still deep in the hole YTD though
Yea but expenses are WAY down.... that'll happen when you fire a significant % of your workforce.
So far, it appears people are just making up answers.
So in other words - a loss.
I'd be shocked if it was a gain. When I left a few months ago, we were leaking autos like crazy.
About -320,000
So in other words - a gain.