Thread regarding State Farm Insurance layoffs

Incompetence Admitted

Tipsord said the analytics “got the frequency picks right” but the insurer “missed severity badly.”“We did not anticipate the inflationary pressures,” he said, and they did not fully appreciate the effect of the lockdown on the court system. (Yeah, its the courts fault, laughable)
The consequence for calendar-year 2022 is the “largest auto underwriting loss in the 100-year history of our company,” Tipsord said

You didnt see any of that coming? So are you blind or just admitting gross incompetence or both?

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| 2661 views | | 17 replies (last July 14, 2023) | Reply
Post ID: @OP+1ndI5cqW

17 replies (most recent on top)

Sure, saw him at lunch Tuesday.

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Post ID: @oysz+1ndI5cqW

Anyone even seen Tipsord? he hiding in a foxhole again? Lead from the rear type?

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Post ID: @oeci+1ndI5cqW

First you complain about losing 13 B and now you complain about raising rates based on increased costs and cats. No wonder you got laid off.

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Post ID: @jtum+1ndI5cqW

Oh so let’s Jack premium up triple on long time customers

Bad leaders and strategy at SF

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Post ID: @jxcd+1ndI5cqW

@gljq-post your contact info so we can get started if you are serious. Otherwise you are just a troll.

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Post ID: @gimw+1ndI5cqW

We need to unionize...now. Teamsters will support us.

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Post ID: @gljq+1ndI5cqW

@cbbp....ah, the regularly scheduled unionization post. From somebody who will not lift a finger to start the process.

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Post ID: @efme+1ndI5cqW

Its time to unionize. A petty, greedy, tyrant as CEO. Its time for the peasants to revolt. Off with their heads ( metaphorically speaking of course)

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Post ID: @cbbp+1ndI5cqW

@4vap-you must not read or perhaps lack the ability to understand industry data. Smaller competitors dominating SF how? Not in production. Not in revenue. Not in capital strength. Not in customer satisfaction.

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Post ID: @5upa+1ndI5cqW

@4vap….sure. We’re being dominated by GEICO. The company whose owner says there’s just no way they can catch State Farm.

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Post ID: @5gfb+1ndI5cqW

SF being dominated by smaller more agile competitors like Geico and Progressive and others. Dying business model of agents rather than full service internet. Good luck with that.

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Post ID: @4vap+1ndI5cqW

SF dominating the entire insurance industry for over a 100 years! Widening its lead on competitors, strongest capital position in the industry, recognized over primary competitors for their customer service. Must just be luck…..

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Post ID: @1fdl+1ndI5cqW

@hgv-really? You think the OP is looking for education? What a hypocritical comment.

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Post ID: @1nri+1ndI5cqW

The people complaining on here about 2022 losses are the same incompetent mo--ns who complained about profits from 2018- 2020, and thought they should get the surplus as a bonus., i.e pathetic losers who understand nothing but love to complain in retrospect. Thinking they are somehow leading from behind.

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Post ID: @1ryb+1ndI5cqW

By now all the corporate kkklowns are running around like keystone cops. Quick everyone get to your computers and mark negative next to the comments!!!

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Post ID: @1xlo+1ndI5cqW

Typical of how leaders today act. If OP has an opinion rather than clarify or educate, they namecall, downtalk, and demoralize who they perceive is contrary to their opinion. So very sad leadership is no longer a leader nor can drive the ship.

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Post ID: @hgv+1ndI5cqW

The OP is a good example of low IQ people posting on this site. Apparently OP has not priced a car lately, gotten a rental car (if even possible), gotten his car serviced. BTW Allstate, GEICO, Farmers, AIG, just to name a few also reported record auto losses in 2022. Maybe all the CEOs in the industry were blind?

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Post ID: @wfs+1ndI5cqW

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