Allstate Hammering Clients Again - Agents Too

[insurance1822]

More Cars, More Problems: Allstate Raising Prices to Cover Costs | Fox Business

And wouldn't you know (rumor has it..) they're changing the bonus structure so premium growth is irrelevant & it's all about item growth. In addition to jacking their rates, they're changing their underwriting guidelines to make it tougher to place new business. All while raising sales goals. Typically Allstate..just taking a nasty diarrhea $hit all over their agent's faces as always.

If you're an Allstate agent out there I suggest you get into the IA world as a backup. Put your Allstate book on automation, forget your bonus & just let it whittle away. Put all your resources into growing an IA book. They will screw you EVERY SINGLE CHANCE THEY GET.

 

[dbtechy]

I'm considering it. What's the best way to setup an IA and get some carriers while transitioning over? Is it better to signup with one of these companies that sets you up with carriers or approach carriers separately? I know very little about how IA's work or even how the commission structure compares.

 

[insurance1822]

^ There are tons of posts on this topic. Just search the forum.

 

[shawnmwalker]

A lot is going on at Allstate right now!

 

[dbtechy]

^ There are tons of posts on this topic. Just search the forum.

I've spent the last couple of hours on here trying to get that information so maybe I'm not looking for the right answers.

 

[insurance1822]

A lot is going on at Allstate right now!

Oh yeah? Spill the beans

 

[TeePee]

I don't have any idea but I have worked as office manager for 19 years and it is all in cycles. Watch once one starts, the rest will follow. It sucks but it is what it is unless you are willing to give up your entire book.

 

[BigSteve]

A lot is going on at Allstate right now!

I keep hearing this, but no specifics, please elaborate.

 

[RicFlairII]

Oh yeah? Spill the beans

What I was told by a friend is that commissions may be cut another
1%. (They were just cut 1% not long ago)

More quotas and constant home inspections and rate increases hurt
new business and renewals.

Some agents are choosing to advertise as an agency and not even
mention the word "Allstate" in their ad. Really shows a lot of confidence
in the company, huh?

Many agents have sued, and the lawsuits are just starting to be heard.

 

[insurance1822]

^ Can you elaborate further? This is the FIRST I've heard that. Is the source you heard this from accurate, or just speculating?