Wondering if there is a risk of going public.
Interesting how we are giving up the financial services which were going to save the Company at one time to return to the core products. On the path of moving from number 1 to number three in premium and policy volume. What will it take to recover.
Will the newest big dog strategy deplete our reserve?
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@nsav not being a CEO myself, can you share those book titles? I just got my KFALP deadline to opt-in and need to know the mind of a CEO so I can fake my score and get noticed.
Look at the books CEO's are reading today. I that doesn't scare the daylights out of the workers nothing will. Remember.....they really don't care about you. The world of "all about me" will fail no matter how much money they have, Socialism is their goal.
Yea right, Amazon did amazing with their health insurance venture right? They could not wait to back out of that, deep pockets don’t mean everything you touch turns to gold. I’m sure they will own the insurance world soon, not.
I hear the Agency2000 program is a game changer !
“Never a better time to be an agent” - Agency Leadership Reference Manual m
@jbhl...been hearing that every week since 2000 or so. Some kind of change will eventually happen. Everybody expects it. Get over yourself.
Agency changes ready to rollout hope they shack some $$$ away its going to be a entire different world for them. It’s a business decision to survive in the future for any company in the financial services environment. With monsters like amazon on the horizon it could cribbed us over night if we don’t make changes. It’s been a good deal for them for a while unfortunately its going to change.
I agree with all probabilities with exception of agency model being 50/50. I believe the odds of it going down with "leveraging technology" is much higher. Why pay an agent when you can leverage technology for a .ore competitive price for the customer? SF has changed. We are not and will never will be what we once were.
The odds of de-mutualizing is 0%. The odds of the agency model diminishing over the next 10 years is 50/50. The odds of our P&C leadership position being given up is 100%.
“If we go public i would think agents gone. No other carrier winning in todays market with agents. Think geico and progressive.”
Captive model is done IMO.
12th floor would love to public. Each executive would get 25-100 million in stock options.
If we go public i would think agents gone. No other carrier winning in todays market with agents. Think geico and progressive.
I see it coming.
I was counting on pet insurance commissions my trailing MF is only about $1800 per year
Not to mention the regulatory environment, last fixed annuity I did seemed like 60 pages
Of suitability and regulatory disclosures. I remember when it was a 3 page application and took 5 minutes to complete. F that.
You get what you pay for... regarding comp for doing the mf.. too much risk vs reward imbalance. With the contract, better of trying to max auto and fire production. People go where the money is. Economics 101: incentives matter
State Farm convinced RBC, Morningstar and Jackson they could all make money off the agents. But it never occurred to them that they needed to make it worthwhile for the agents themselves. Way too much time, effort, and risk for the agent. It just made no sense to put our butts on the line for pretty much nothing.
Agents ain’t gonna play that again, we know how it ends, bank, Fortis health, long term care, Phoenix wealth mgmt, mutual funds, variable universal and variable annuity’s, ect,ect,ect. It’s too much fricking work to get licensed for this c-ap again and for the most part a very small part of agent comp. If we had spent the time and money keeping our core products competitive we would not be counting down to when we are #2 or #3 in the industry.
Interesting g you would mention financial services ...just completed an alliance with Jackson in March , marketing VAAnd a fixed index annuity. Agents been crying for these for years, over 220 mill sold already, great job agents. Problem is we have only a handful of reg rep s playing In this space. It will not be long before we peal off all mutual
Funds and financial services due to lack of engagement and shear costs in meeting regulatory requirements. Look for Edward Jones, Raymond James , Fidelity, takeover in next 2 yrs. just like the bank experience.
Unlikely, we just rented this dog, rates set to rise already.