Is AmTrust even insurance? When i was there, they bragged internally that they were a tech company that did insurance on the side. Problem was, the tech was horrible too. since going private, I’m sure things are better….
Many Texas Independent agents have already had access to Allstate, Encompass, and National General. I am one of them, and I am sure there are many others.
I haven’t seen an Emcompass policy in years. I know they exist, and they used to be really good, but Allstate had no idea how to manage that business. They put it into a death spiral with repeated rate increases to the point where they were adversely selected to death. Most independent agents that have Allstate brand appointments don’t bother with them because of poor technology compared to other big independent companies. We’ll see how NatGen goes… If Allstate’s management in Chicago keep their Good Hands from micromanaging, it might work. But I don’t expect that. Tom Wilson has overseen years of market share losses because he has made poor business decision after poor business decision, sprinkled in between knee jerk short term decisions that ran off tenured customers. Geico and Progressive are now reaping those profits, which Allstate’s management spent 20 years saying “Geico will have to raise rates eventually”. They did, but Allstate outdid them over and over. Wilson is stubborn and anyone who disagrees with him will be dismissed. The entire management structure at Allstate reflects this philosophy. Fresh ideas and constructive criticism are not at all welcome anywhere within Allstate Corp. My prediction is that after a year or so, Tom Wilson will replace the NatGen management team with his “yes men”, and we’ll have an Emcompass sequel to watch.
I haven’t seen an Emcompass policy in years. I know they exist, and they used to be really good, but Allstate had no idea how to manage that business. They put it into a death spiral with repeated rate increases to the point where they were adversely selected to death. Most independent agents that have Allstate brand appointments don’t bother with them because of poor technology compared to other big independent companies. We’ll see how NatGen goes… If Allstate’s management in Chicago keep their Good Hands from micromanaging, it might work. But I don’t expect that. Tom Wilson has overseen years of market share losses because he has made poor business decision after poor business decision, sprinkled in between knee jerk short term decisions that ran off tenured customers. Geico and Progressive are now reaping those profits, which Allstate’s management spent 20 years saying “Geico will have to raise rates eventually”. They did, but Allstate outdid them over and over. Wilson is stubborn and anyone who disagrees with him will be dismissed. The entire management structure at Allstate reflects this philosophy. Fresh ideas and constructive criticism are not at all welcome anywhere within Allstate Corp.
Who do you see as the national carriers winning in the IA space? Who has reasonable technology, price, and management competence to support the agent channel?
Progressive is the obvious standout answer, but Safeco/Liberty is up there, too. Numerous Super Regionals across the country. Nationwide is an IA company, now, though their rates aren’t exactly competitive in a lot of areas.
This sounds a lot like how Farmers was run in the late 90’s early 2000’s – just drive a good thriving company into the ground by ignoring the competitive pressures. Executives saving their jobs at the cost of policy holders and employees and agents.
is there any indication as to when the National General shareholders will receive their buyout?
Allstate….trying to look be Progressive maybe? Direct writer (Allstate), Online (Esurance), Independent (Encompass-Nat Gen)?
didn’t they shut esurance down?
Esurance was simply absorbed. They are all still employed and running just like before. Nothing was closed.
Looks like Karfunkel family getting out of insurance (outside of Am Trust). Will independants now have access to Allstate?
Is AmTrust even insurance? When i was there, they bragged internally that they were a tech company that did insurance on the side. Problem was, the tech was horrible too. since going private, I’m sure things are better….
And will independent agents with current Allstate appointments have access to Nat Gen?
two awful companies teaming up
Many Texas Independent agents have already had access to Allstate, Encompass, and National General. I am one of them, and I am sure there are many others.
I haven’t seen an Emcompass policy in years. I know they exist, and they used to be really good, but Allstate had no idea how to manage that business. They put it into a death spiral with repeated rate increases to the point where they were adversely selected to death. Most independent agents that have Allstate brand appointments don’t bother with them because of poor technology compared to other big independent companies. We’ll see how NatGen goes… If Allstate’s management in Chicago keep their Good Hands from micromanaging, it might work. But I don’t expect that. Tom Wilson has overseen years of market share losses because he has made poor business decision after poor business decision, sprinkled in between knee jerk short term decisions that ran off tenured customers. Geico and Progressive are now reaping those profits, which Allstate’s management spent 20 years saying “Geico will have to raise rates eventually”. They did, but Allstate outdid them over and over. Wilson is stubborn and anyone who disagrees with him will be dismissed. The entire management structure at Allstate reflects this philosophy. Fresh ideas and constructive criticism are not at all welcome anywhere within Allstate Corp. My prediction is that after a year or so, Tom Wilson will replace the NatGen management team with his “yes men”, and we’ll have an Emcompass sequel to watch.
Why, do you think the NatGen management team is better? LOL (I worked there, and I don’t think they rock)
I haven’t seen an Emcompass policy in years. I know they exist, and they used to be really good, but Allstate had no idea how to manage that business. They put it into a death spiral with repeated rate increases to the point where they were adversely selected to death. Most independent agents that have Allstate brand appointments don’t bother with them because of poor technology compared to other big independent companies. We’ll see how NatGen goes… If Allstate’s management in Chicago keep their Good Hands from micromanaging, it might work. But I don’t expect that. Tom Wilson has overseen years of market share losses because he has made poor business decision after poor business decision, sprinkled in between knee jerk short term decisions that ran off tenured customers. Geico and Progressive are now reaping those profits, which Allstate’s management spent 20 years saying “Geico will have to raise rates eventually”. They did, but Allstate outdid them over and over. Wilson is stubborn and anyone who disagrees with him will be dismissed. The entire management structure at Allstate reflects this philosophy. Fresh ideas and constructive criticism are not at all welcome anywhere within Allstate Corp.
Who do you see as the national carriers winning in the IA space? Who has reasonable technology, price, and management competence to support the agent channel?
Progressive is the obvious standout answer, but Safeco/Liberty is up there, too. Numerous Super Regionals across the country. Nationwide is an IA company, now, though their rates aren’t exactly competitive in a lot of areas.
This sounds a lot like how Farmers was run in the late 90’s early 2000’s – just drive a good thriving company into the ground by ignoring the competitive pressures. Executives saving their jobs at the cost of policy holders and employees and agents.
I’m eliminating my partnership with NatGen in 1/2021 and moving my book of business, I have a bad taste with Allstate.