State Farms Market Share - How'd It Get There
- Thread starter insurance1822
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- 5,002
Even in auto, while SF has shrunk is like 17% compared to Geico 13% auto market share. Add in other Propery, commercial, etc lines & I think it is even a great difference before Life & annuity & banking is added
- 5,365
Yeah, I went back and researched again. I guess what I read was specific to certain states where Geico has overtaken SF in auto, or was about the projections of Geico overtaking SF.
Yes, when factored in everything; banking, home, life, etc. SF has the advantage.
Furthermore, there is a very different type of customer that will buy auto insurance because they saw a cartoon character on tv, vs someone that wants to sit down with a State Farm agent.
- 5,002
I am guessing we are going to see pretty soon with near zero or negative interest rates that carriers being in multiline will fare better than singular carriers such as annuity only or life only
zigwiggity
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Funnily enough that State Farm Bank was brought up, they are closing it at the end of this year.
- 2,380
Obviously State Farm is doing something correct to be so large.
I view them as the common insurer, the one that many carriers can try and compare themselves too. All things considered I believe that they are neither the worst nor the best captive agent insurer. But... they have been around for a long time.
I view them as the common insurer, the one that many carriers can try and compare themselves too. All things considered I believe that they are neither the worst nor the best captive agent insurer. But... they have been around for a long time.
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I was an agent with them learned their training which was sub par. They did a great job years ago with marketing. They are a well run company. Other than being more expensive its a household name
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