“The definition of insanity is doing the same thing over and over again and expecting different results.” Marty Feinstein was the last decent CEO Farmers has had in the past 15 years. Nothing but hucksters running the company into the ground now.
Farmers is one of many companies that Zurich owns, and is running into the ground. Any Farmers agent that has their wits about them better be looking for an exit strategy. It will not get better at Farmers since Zurich siphons 15-20% off the top of every premium dollar written, not earned. Prior to Farmers being sold to BAT, then Zurich, it was a great company.(Prior to 1989). Post Zurich running the show, it has gotten progressively worse at Farmers. They have become very hostile toward their agents.
The Farmers of 1989 would in no way have survived to this day. The company then was run like a Mom & Pop store. There was little vision and even less business accumen. The people from that era whom I met, that have since retired or left, were a little “rough around the edges” to put it politely. Most of those who pine for the “old days” at Farmers are the ones who recount tales of drinking and debauchery in the offices. Farmers needed an injection of corporate sensibility.
What’s wrong with drinking and debauchery? We wrote a helluva lot of business back in those days. Binders on cocktail napkins and matchbooks, 3 martini lunches and dinner at the strip club with clients. Oh, the good old days!
Hmm. Let’s see: A company back then that actually supported the agency force, and let them write as much business as they wanted, vs. the hostile Farmers of today that has been terminating long term, profitable agencies. (which by the way, then go independent and write all of their profitable customer to the IA side)
There was a time when it was a mutually beneficial relationship between the agents and the company. The company had no problem making money. Kind of hard to overcome the 20% management fee in today’s competitive world. I say the 20% tip off the top is hurting Farmers more than anything. I suppose corporate employees of Farmers will differ…
AdjustThis!- “corporate sensibility” You mean like the 1.2 million pif run off of 2013 with 10% of the agency force leaving? 2014 is still a massive run off of pif.
Been around almost 43 years now. We had many people with business acumen (also had good spellers) and many people that understood what it takes to succeed in the insurance industry. We had great direction and a willingness to plan and execute rather than treat everything as a big secret.
Farmers goes from number #3 in auto to losing 1.2 million auto units. Convincing Zurich that you are turning it around and getting a million dollar bonus also. We have a CEO that is very smart!! That’s why we have Smart Offices!!
“The definition of insanity is doing the same thing over and over again and expecting different results.” Marty Feinstein was the last decent CEO Farmers has had in the past 15 years. Nothing but hucksters running the company into the ground now.
Farmers is one of many companies that Zurich owns, and is running into the ground. Any Farmers agent that has their wits about them better be looking for an exit strategy. It will not get better at Farmers since Zurich siphons 15-20% off the top of every premium dollar written, not earned. Prior to Farmers being sold to BAT, then Zurich, it was a great company.(Prior to 1989). Post Zurich running the show, it has gotten progressively worse at Farmers. They have become very hostile toward their agents.
Should be illegal what they are getting away with. Capitalism is alive and well in “MURICA!
The Farmers of 1989 would in no way have survived to this day. The company then was run like a Mom & Pop store. There was little vision and even less business accumen. The people from that era whom I met, that have since retired or left, were a little “rough around the edges” to put it politely. Most of those who pine for the “old days” at Farmers are the ones who recount tales of drinking and debauchery in the offices. Farmers needed an injection of corporate sensibility.
What’s wrong with drinking and debauchery? We wrote a helluva lot of business back in those days. Binders on cocktail napkins and matchbooks, 3 martini lunches and dinner at the strip club with clients. Oh, the good old days!
Hmm. Let’s see: A company back then that actually supported the agency force, and let them write as much business as they wanted, vs. the hostile Farmers of today that has been terminating long term, profitable agencies. (which by the way, then go independent and write all of their profitable customer to the IA side)
There was a time when it was a mutually beneficial relationship between the agents and the company. The company had no problem making money. Kind of hard to overcome the 20% management fee in today’s competitive world. I say the 20% tip off the top is hurting Farmers more than anything. I suppose corporate employees of Farmers will differ…
AdjustThis!- “corporate sensibility” You mean like the 1.2 million pif run off of 2013 with 10% of the agency force leaving? 2014 is still a massive run off of pif.
You must be a DM.
Been around almost 43 years now. We had many people with business acumen (also had good spellers) and many people that understood what it takes to succeed in the insurance industry. We had great direction and a willingness to plan and execute rather than treat everything as a big secret.
Farmers goes from number #3 in auto to losing 1.2 million auto units. Convincing Zurich that you are turning it around and getting a million dollar bonus also. We have a CEO that is very smart!! That’s why we have Smart Offices!!