How long can we keep losing market share until executives realize these initiatives are failing?
8 replies (most recent on top)
Hey we’re up 6.8 BILLION year to date net worth, with only 95k auto growth. That’s like is like 5 per agent new car growth. At least it is growth instead of three years of auto pif losses in the millions. Meanwhile AAO5 agents are filing bankruptcy or going to goosehead.
Ain’t spending money on the marketing because they jacked around smvc with unrealistic numbers based on growth, jacked the rates causing good customers to leave, then cut rates trying to win some back and retain while reducing the agent comp .....a recipe for no money to invest in chasing leads...
The amount of sheer ignorance and hot air is amazing. Apparently you are unable to read a financial statement. SF has our lowest expense and combined ratio in 15 years, we made several billion on underwriting operations last year (actually lost investments money, for the ignorant poster above), which means we are more efficient and profitable than we have ever been. And oh yeah, we’ve GROWN about 200,000 auto policies so far. We just won the best customer service award for Life by JD power. How exactly is that failing? So you perhaps think it could be your bad attitudes and inability to adapt and change that could, just a little bit, be part of the problem?
They can go back to their core values immediately, but pick the analogy. The big dog is off the porch, you broke it you bought it, the horse is out of the barn. The damage is done. You can correct to the original core values to a point, but when you have damaged consumer trust and employee trust, it's not going back to the original status. The arrogance of State Farm executives, especially the CEO, is why in the near future State Farm will no longer be the number 1 auto insurer in most states. It'll be a happy 100th State Farm celebration for Tippy.
If they went back to their core values, they would turn it around on a dime. When you lose your values, you lose your empire.
Well, the Farm has recently been apologizing profusely to Agency, which has been trying to apply lipstick to this pig for several years now. Talk of marketing money, etc. And yet, the main message is that the agents who’ve been trying to hold this thing together for customers just need to do more.
The top is too arrogant to admit they screwed up. If I look at it honestly this company has been moving in the wrong direction since the late 90’s and now it’s in a full blown death rolll. The high flying stock market is its only life support and when we go into a bear market look out.
They’re not oblivious that their initiatives aren’t working. A TRUE leader admits and adjusts course. We lack leaders
As that great comedian Ron White like to say, “all the way to the scene of the crash”.