Allstate, Esurance Take Hit from Losses in Q3

By | November 4, 2016

  • November 4, 2016 at 2:23 pm
    Eddie Hall says:
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    Always breaks my heart to see Allstate lose money. Couldn’t happen to a nicer company.

    • November 4, 2016 at 2:43 pm
      Deplorables says:
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      So Esurance is not doing well with practically no underwriting from online buyers. Hmm, they just started a Commercial online product for BOP’s. I am sure they will enjoy the same results.

      • November 7, 2016 at 10:32 am
        Mr. Solvent says:
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        Computers don’t make good underwriters.

        • November 7, 2016 at 11:11 am
          Deplorables says:
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          Online customers don’t always answer the questions truthfully either. I have had people tell me they have a clean driving record many times and it turned out they had suspended licenses with numerous violations. Oops, not wise to lie on an application.

          • November 7, 2016 at 1:50 pm
            Mr. Solvent says:
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            That’s all customers.

      • November 8, 2016 at 8:08 am
        cl pm says:
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        My understanding is that the combined ration problem for Esurance is not losses but expenses. Their marketing expenses are high and that drives the poor COR. If someone knows different, please let me know.

    • November 7, 2016 at 4:29 pm
      Ron says:
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      Eddie Hall,

      Just to provide you with some education, Allstate did not lose money. Per the article, “Meanwhile, Allstate‚Äôs property-liability combined ratio came in at 95.5…”. A combined ratio below 100 means the company made a profit.

      They just did not make as much this 3rd quarter as they did the last 3rd quarter.

      • November 7, 2016 at 5:22 pm
        Deplorables says:
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        They are practicing a model someone said would work and it hasn’t and they will continue to decline.

        • November 8, 2016 at 7:20 am
          Ron says:
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          Agent,

          What???? How is that relevant to what I posted?

      • November 8, 2016 at 8:09 am
        CL PM says:
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        Thank you, Ron. Glad someone red the article before commenting.

  • November 7, 2016 at 1:38 pm
    Matt Smith says:
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    The whole market was just so soft .. Nationwide is getting their butts kicked on the commercial side also.

    mostly property and auto.

    hopefully we see some hardening coming.



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