I'm surprised I haven't read more about State Auto and the changes they are making.
The biggest of course is the commission cuts. More drastic than any other carrier I've seen. Auto is going to 10% renewal (aka....Progressive, with worse technology). Homes are at best 12%, only if you have the supporting auto. Otherwise, 10%.
They also are requiring all new policies to be 100% paperless and automatic draft. We're still a small town, rural agency and that won't fly with a lot of our clients.
But besides that, they've just gone to the trash pile for our agency. Why in the world would I write anything more with them? At least Travelers let you keep 15% on the home and only went to 12% on the auto. Time to pick that book apart.
Thanks Mike LaRocco. We know how much you value your agent force.
The biggest of course is the commission cuts. More drastic than any other carrier I've seen. Auto is going to 10% renewal (aka....Progressive, with worse technology). Homes are at best 12%, only if you have the supporting auto. Otherwise, 10%.
They also are requiring all new policies to be 100% paperless and automatic draft. We're still a small town, rural agency and that won't fly with a lot of our clients.
But besides that, they've just gone to the trash pile for our agency. Why in the world would I write anything more with them? At least Travelers let you keep 15% on the home and only went to 12% on the auto. Time to pick that book apart.
Thanks Mike LaRocco. We know how much you value your agent force.