Let’s see the HR trolls on this site spin this one…
This is a link to a story today about Allstate illegally gouging California customers….
It is Happening in places all over the country.
The new Allstate way…
Cheat your customers…Cheat employees…constantly remind everyone of your bogus “shared values.”
https://apple.news/AWU3AIbz6RriHRhisCqnDxQ
Many companies employ price optimization (PO.) Moreover, PO is used a great deal more by stock insurance companies. As Allstate has demonstrated, their obligations are not for the customer, but rather the share holders. If you look at market share, Allstate has shrunk over the past 10 years. However, because of PO, Allstate’s margins have been consistently above average. Wilson is talking out of the side of his mouth when he refers to transformative growth (TG) being used to achieve more market share. Market share is not the goal of TG. TG is all about lowering expenses to increase shareholder value. Hello, TG has been around for 3 years now. Have you seen any growth?
In the meantime, competitors and ex-Allstate agents are feasting on Allstate’s inability to properly price their auto product. PO is ki----g retention and Allstate only cares about new business.
@7jsm-hard to speculate on an individual risk. That said, SF is having another great growth year and Allstate is shrinking.
@7ffd+1f5Hf5ek I am a former employee and have a few friends that are SF owners, the last year they keep talking about consistently loosing customers to Allstate because SF is priced quite a bit higher, she did a quote for me and there was no way I could switch and pay that much.
State Farm definitely does not do this. It is called price optimization. It was pitched to SF over 10 years ago by an outside 3rd party and SF gave it a hard NO. This is why SF is so competitive against long term Allstate customers.
State Farm and others do this too