What are your thoughts about Transformative Growth
12 replies (most recent on top)
“Do more with less”. The employee gets screwed in the process. No more bonuses, PTO time taken away, MRR, benefits lower, higher production goals, lower raises, fewer promotions. Lower price hasn’t happened either. Big failure there that wanted to be the “lowest cost insurer”.
Transformative Growth-AKA move everything to India
Stupid policy, stupid goals. Insurance is unique - more policies indiscriminately is not better unless you want to pay bookoo bucks for accidents caused by me-h heads with state minimum limits. They should focus on proper underwriting if the want to grow the bottom line.
It’s giving progressive their business ;)
it is doing exactly what it was designed to do.
Prove gouging at the Industry level never ends. People are deceived and policyholders exploited for big pay and bonus. Not transformations. Theft
Did nothing to help fight real problems
The stock is at its 52 week high. Wall St. likes the potential of the aggressive auto rate increases. The expenses have been cut. Stock price and dividends are the drivers of success at Allstate.
Transformative growth will not increase market share. As said in an earlier post Geico and Progressive has cleaned up in that arena. St. Farm has a firm grip on the captive agent market. Moreover, Allstate does not know how to play in the independent world. IA’s will not tolerate Allstate’s deficiencies in claims, pricing, and technology platform.
The Fish Rots from the Head. So even if we were "stuck in a different decade", it's primarily due to the failed leadership of this company at the BOD and executive leader level. They missed every meaningful shift in the business over the past 20 years, including the need to meet the customer where they shop. That required a broader vision than simply a solid EA channel. We ceded direct to Progressive and GEICO, and failed to compete in IA where 35% of business is written. The current strategy may be right, but we are well behind the top 3 carriers in P&C, with USAA and Liberty on our heels.
Fantastic. Cleaned house with all you people who were stuck in a different decade milking this company for a paycheck with your useless "talent."
Total sh-t show...has tanked morale, cost the livelihoods of thousands of former employees, caused insurmountable stress on remaining claims reps...the beginning of the end.
Read the past couple of years of posts on this site, meaningless slogan, corporate drivel.