Thread regarding State Farm Insurance layoffs

State Farm reveals massive savings

Looks like SF is not going away any time soon...

https://www.insurancebusinessmag.com/us/news/breaking-news/state-farm-reveals-massive-savings-247994.aspx

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| 2801 views | | 19 replies (last March 9, 2021) | Reply
Post ID: @OP+19FinikH

19 replies (most recent on top)

Marketing- creepiness

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Post ID: @7wxe+19FinikH

While integrations of mass surveillance and data grabs and systems calling it marketing, risk management, HR and employee compliance, security and web and data analysis.

Other countries use this kids too.

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Post ID: @3gst+19FinikH

that's ok....sf will make up for those savings with increased expenses from hiring more "diverse" suppliers.

if only the policyholders understood what was happening internally.

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Post ID: @3fgz+19FinikH

@2gmh is right on point, there is currently a high level task force discussing how to bonus and increase compensation to the Agency Force to retain them, this will be money well spent. Right now the discussion is centered on a one time bonus of $50-$75000 per agent plus an increase in commission structure.

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Post ID: @2hjw+19FinikH

Their consultants underestimate the value of the people who are still around that speak "State Farm", and the things they do everyday to bridge the disconnects between where it started and where it's going.

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Post ID: @2esm+19FinikH

Agency has always been crazy. That’s what the job is. But the weird thing is the more SF messes things up, the more they need the agents. Somebody has to answer the phone and try to make sense of this mess to the customer, and nobody else does it. The situation has been reversing itself. I honestly think it’s approaching the point where SF needs the agents more than the agents need SF. Agency openings are already getting very hard to fill. Too much dysfunction, too many sticks and not enough carrots. After years of worrying when SF will automate and do away with agents, I now think it’s more a question of when people stop wanting to be agents and SF is forced to automate.

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Post ID: @2gmh+19FinikH

I wouldn't boast about that!

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Post ID: @2ysn+19FinikH

Survival mode right now, it’s going to get crazy especially on agency side.

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Post ID: @2cbf+19FinikH

come on guys...all insurance companies or all companies are basically doing that...welcome to corporate america.

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Post ID: @1nue+19FinikH

Short term gain and long term pain. All the savings comes from hollowing out intellectual capital with employees that actually know how to adjust claims. There will come a time when the public realized the wheel has fallen off the wagon, and the SCP isn't going ensure proper claims handling. By that time, all the current leaders will be long gone and kick the can down the road for the next administration to clean up. For now, the goal is to make the numbers look good by any means necessary, even at the expense of losing talent, lowering company standards, charging premium price for subpar service. It will catch up.

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Post ID: @1wcw+19FinikH

@1wjv LOLOLOL....class action lawyers are lower than CEOs of P&C Insurance Companies.....I am sure this suit is valid on its face.

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Post ID: @1vte+19FinikH

Progressive claims they did a lot but did zero in rebates or premium adjustments amd their pricing structure and rules are terrible

PR responses are fake reality and news while exploiting many

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Post ID: @1dst+19FinikH

Of course this is purely coincidental to the savings ... https://www.ktnv.com/news/class-action-lawsuits-filed-against-car-insurance-providers-amid-pandemic-rates

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Post ID: @1wjv+19FinikH

Adobe, Google, digital, pricing rules, cloud, Salesforce, guidewire, HR, marketing and many other ET partnerships and 3rd parties and contracts are corrupt

They all look cool and getting big bucks to exploit Americans and workers calling it business leadership.

Sickening to watch the buddies

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Post ID: @1xxf+19FinikH

"savings" = cut backs and 1 person doing the work of multiple

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Post ID: @1oqp+19FinikH

I wouldn't be proud of that. At the expense of who? Helping people realize their dreams by tearing them away from their families? By promising something then pulling the carpet away from them before it is attained? Hypocrisy!

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Post ID: @1wxr+19FinikH

How many employees did they take away from "realizing their dreams" and what did they give up for that profit? Ever hear of dirty money?

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Post ID: @1yfl+19FinikH

Exploitation.

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Post ID: @tqh+19FinikH

Anybody who thought it was is just really not paying attention.

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Post ID: @wpn+19FinikH

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