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- #11
Buh Bye Assurant - Up for Sale / Exiting Market
- Thread starter Yagents
- Start date
- 244
I just read this on the heels of hearing that Premera Blue Cross's subsidiary in Washington aka Lifewise Insurance has announced with it's new rate filings that it will discontinue all commissions beginning next year. I think the take away from both of these stories is not in themselves as much as it is the trend that is beginning. See the snowball at the top of the hill beginning to roll down the hill?
I think the insurers are just dying to lose the agents when the timing is right? Anybody else want to weigh in and tell me Im wrong?
I think the insurers are just dying to lose the agents when the timing is right? Anybody else want to weigh in and tell me Im wrong?
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I think you're right, eventually insurer's will take what they can in house and leave the rest to the marketplace. But it won't happen until there are only one, two or 3 insurer's left, then they will kiss our a$$ goodbye.
Don't look now, but we are already there. Very difficult to find a market with more than 2 or 3 competitive products anymore.
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Well you are right. I read your response to something similar to this in one of threads about the company's not really wanting the agents.
No offense here since you're with a major company but I have found the majority of any sales agents or call center agents with any of the leading three carrier's seem to have been trained on the street corner, sure some of them have been around awhile and know what they are talking about but by far I have not seen that in a long time. You on the other hand seem to know what you are talking about and have been around a while. True even without knowledgeable agents the insurer's left will thrive until one day, whoops, it's now all single payer run 100% by the govt.
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I agree. In my market we had 8 carriers pre ACA. We now will have 4 after Assurant closes it operation. Aetna is gone, Cigna is gone (Tulare County), and Pacificare is gone. I expect them to shut down the end of this year before 2016. We have 45 members to move.
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Is this possibly because the taxpayer reinsurance will be gone shortly? 
Rick
Rick
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Is this possibly because the taxpayer reinsurance will be gone shortly?
Rick
Yep..bailout $$$ hose is being squeezed by Congress, at the same time the spigot is being turned off, per ACA's pre-designed schedule. Borderline companies (and agents?) should GET OUT NOW.
Read yesterday about a small United Healthcare subsidiary company that applied in March to enter the Illinois/HC.gov exchange for 2016. They withdrew the request on April 11th.
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