Anybody else notice Tom say we need to increase prices and reduce costs? What are the cost reductions they have in mind?
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it means putting cover sheets on the TPS reports. that will help cut costs.
Increased focus on direct business at lower acquisition cost a major element. Additionally, reducing renewal commissions for existing agencies will hurt those that can't benefit from higher new business %'s. All will pay the price for a lower expense ratio in hopes of expanding customer base.
Actually ASIC is moving to offshore contractors, not India, while underwriting is being completely automated. Mass layoffs for both areas coming. Similar with most of CCC being moved to offshore contractors.
They are moving ASDU which is asic and underwriting to India.
I'm not too concerned about going to an office until I understand whether I'll have a job. Another tone deaf executive leadership call. This group doesn't get it. I'm not surprised given the rudderless ship for the last two decades. Too many failed efforts to grow profitably. The only constant in all this is Chair and CEO, know it all Tom Wilson.
Was this your first AllState meeting??
Look in the mirror....see that? THAT is your cost reduction.
Is it obvious? YOU are the cost that must be reduced!
Yes it would have been nice if he fully explained that comment. Instead of spending an hour talking about how great it is to go to an office. We want to know how A will cut costs.
Offshore vendors with employees in Mexico and Philippines making $5 an hour replacing our agency and customer services here in the states and moving a large portion of the claims enterprise to Pune would seem to reduce costs wouldn't you say?
India