@elizar123 I won’t share, but a friend and current employee sent me the internal bulletin they received today. There is NO mention of that new product, it strictly mentioned the follow up to their meeting yesterday. This was solely focused on profitability issues. I will mention (since this has to be public by now) they DID cite an approved 6.9% auto rate increase effective before the end of this year. This is massive news, since no other carriers have announced an approved increase yet…
@spencer5150 Did you friend also tell you that allstate is outsourcing ALL of their customer service and sales depts. On a side note both company's that are being used are garbage WNS and Concentrix but hey atleast Tom Wilson made 18 million last year
@lostariel Wooooo that was conveniently left out. They were definitely blindsided by the 50% new biz payment requirement back in July, but this new three part announcement hit them all hard on the agency side.
@resjudicata I'm a lifelong Californian who upvoted you because what you said is 100% true. I am an Allstate customer-homeowners, and have car insurance through geico. I'm not surprised by today's news. But unfortunately on Reddit you can't talk about how bad things are in Cali without being downvoted lol
@marytx0 I’m sure you’ve seen by now what Geico did here. We just had a marketing rep in our office telling us they’re just short of dropping CA also, but to try and slow the bleeding they’ll be forcing every new policy to commit to a gigantic amount of annual miles (one of the few rating factors even allowed here) regardless of their commute / driving situation.
@spencer5150 Yes I saw, Geico closed all their california offices. Really sad for all the employees. I've had geico for at least a decade, I'm a happy customer. I'm just hoping they don't cancel everyone's policies here.
