Several years ago, Michael Tipsford talked about the future of State Farm. The speech basically said that in the future State Farm’s primary business would not be insurance. The primary business would be information and the selling of information. The thought was that State Farm has amassed massive amounts of data over the years and recognizes that the market for insurance will be weaker in the future. I wonder if the pandemic is quickening the attainment of that goal?
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Exactly- drive safe and save. That provides State Farm data about where you go, your driving behavior, and who knows what else. A discount is not free. What is in it for them. Oh, as predicted, State Farm is doing away with pensions for new hires and rehires.
He may not have said it but research! It’s the China way. Surveillance, predictive ads and marketing calling it personalization and tracking you. Data selling and sharing and integrating to exploit insureds and profile you
China way
Sf will go out of business just like Sears. Iiiii guarantee it...
Every company that tried to "diversify" away from core service has failed. Remember SEARS. They tried financial services, insurance and taxes. Now they no longer exist...bad plan.
Tipsord NEVER said that. What is wrong with you? No, SF is not stopping selling insurance. SMH
Warren Zevon....."send lawyers....and money, the sh*t has hit the fan."
China way. Enjoy
Even if true, I would have serious doubts as to whether SF had the acumen to play in big tech. These people are not visionary leaders. They lead and react as though modern business operates in 1970's mindset.
Remember this cite is Big Tech and SF — They censor and ban!
Drive Safe and “save”...
Hmmmmm.....what did Mr T promise this time. I dont think the policyholders would be very happy if they sold the data to make you money. Where is this company going?
Eh. They’ll find a way to put all that data behind an incomprehensible “security platform” and render it unusable. We don’t do user friendly at State Farm.