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The Allstate Corporation Message Board

  • isabellegirl isabellegirl Sep 16, 1999 3:12 PM Flag

    Hurricane Floyd and ALL

    analyst with MER was on CNNFn discussing
    hurricane affects and ALL, current damage estimates are
    1-5B, may affect 3Q

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    • just released bulletin stating Floyd would cost
      the entire insurance industry less than $500 million.
      With a 12% market share, Allstate's loss will be less
      than $60 million. All will make that up on the
      handling of flood claims for the Nat'l Flood Insurance
      Program. Reason stock was up yesterday and today. Should
      move up nicely from here unless market continues to
      act haywire.

    • Maybe now is a nice time to buy ALL. This year's hurrican season is over.

    • allstate up over 1 today storm will have no effect on it.i told u all to buy it now who is laughing all the way to the bank.

    • Got in on Tuesday at 31 3/4 leaving on Friday at 34 9/16. Thanks for the memories. I found this board to be quit humorous and of little value. Thank You Mother nature and good luck to ALL

    • It's the first big day in months......let's hope
      the beginning of a rebound. Keep up the positive
      comments. I thought we were ALL in this for the same
      reasons but I see by the attacks you receive that they're
      a few people (?) that would rather see the company
      do poorly than succeed. BTW. Not much by any
      standard but I've picked up about 200 shares since the
      first of Sept. Again, don't let your detractors sway
      you. Most of us get a pump out of your POSITIVE

    • I think the two prior posters each made some
      valid observations. As an e-employee (non sales) from
      California who worked on the highest levels of Regional
      management, I have come with hindsight to see some of the
      issues with more detachment.

      I agree
      wholeheartedly that much of the discontent does come from the
      agent side of the employee force. California agencies
      rank high in the discontented lot, but they are not
      alone around the country. It is true that that at the
      highest levels of the company they have taken a hard line
      with the agency force. The agents would call this hard
      line policy aggrogant while the non agent employees
      would call it necessary tough medicine. The hard line
      agents are not supported by the vast majority of non
      sales employees. As a matter of fact the agents are
      more often cited as arrogant with home office
      management in second place.

      The agent view of the
      world and Allstate is very self centered. Many do not
      turnover simply because they have it too good from premium
      renewal income. Their real concern is that they don't
      want their plum renewal income to take a second seat
      to new business. New business means the loud old
      timers have to work a full work week, the renewal
      business means they can contune with their part time jobs
      and full time income. It is really a matter of deep
      seated anger at being forced kicking and screaming into
      the new world of competitive growth. Allstae no
      longer has daddy Sears as our only shareholder. We now
      have mutual funds, pension funds and individual
      shareholders as our owners. They would like to see a decent
      return on their investment. All they ask is our agent
      force to be competitive and grown our premium base.
      They do not reward part time work and collecting
      renewal premium income.

      Those days are history and
      the sad fact is the die-hard agents of yesteryear are
      being dragged kicking screaming and suing into the 21st
      century. It's called a competitive marketplace. The rest
      of the 35,000 non sales employees made the leap of
      faith and the agency force now is the arrogant minority
      but the most vocal adherents of

      Just a few thoughts,

    • There is certainly a thread of truth woven
      through your long post. I agree, for example that agents
      are self centered, they don't get folded into a
      corporate culture as do RO employees. We all are faced with
      the reality of an evolving market and will have to
      bend. Some agents will be left behind.

      disagee with the part of your post where you say that you
      are a detached observer. I think perhaps you are
      resentful of the income earned by successful agents. If you
      think the agent job is high paying and requires only
      part time effort, why have you never become an agent
      and enjoyed the good life yourself? Could it be that
      dealing with customers on the front line is hard work and
      maintaining a large book is very laborious?

      turnover was misstated in a recent quote by Lawson at 2%.
      The correct quote should have been that tenured
      agents have a low turnover rate. New hires are failing
      at the rate of 43%.
      Renewal income is indeed the
      main source of agent income, but it is not a freeride.
      Agents do not leave once they have succeeded in building
      a book, that proves nothing, except how an
      insurance sales career works.

      Agents make an easy
      target to blame for low growth, when in fact ALL is
      persuing a policy of keeping prices high and waiting for
      the cycle to change. Consumers are very rational,
      they won't pay a 20% surcharge over the price of a
      State Farm Policy. When our prices are roughly egual to
      State Farm we will kick their butts.(ok we're arrogant

      The experience of agents in California is the
      poison in the well that is effecting employees
      nationwide. Those agents who
      were fired in 1996 are mad,
      not at the fact that it happened but at the way it
      came about and how it was handled. I doubt seriously
      that the case will ever go to trial. ALL would never
      want its behavior in Calif to be in the public record.

      Here is a question for you to ponder excal. There are
      roughly 58000 employees. About half of them are agents or
      adjusters. Why does it take one person in the back-office
      for each worker on the front lines?

    • and thanks for educating ALL investors.

    • If they have never been a captive agent there is
      NO WAY they will ever understand it. You have non
      entreprenurial types trying to "manage" entreprenurial types.
      The best mgmt possibly could do would be give the
      sales force the tools and get out of the way and let
      the agent mind their own business. Good posts but
      very few will see the logic.

    • Redmond, Washington, Sept. 17 (Bloomberg) --
      Microsoft Corp. is expected to reaffirm its commitment to
      its CarPoint Web site next week, analysts said,
      quelling speculation that it would sell the online
      car-buying service.

      Microsoft President Steve Ballmer
      will talk about the ``strategic direction'' of
      CarPoint in San Francisco on Monday, a spokesman said.
      Microsoft declined to comment further. It may announce a
      new alliance with a company such as a vehicle lessor
      or insurer, said William Epifanio, an analyst at
      J.P. Morgan Securities.

      Microsoft wants to
      reinforce its support for CarPoint following Ballmer's
      comment early this month that ``helping people buy cars''
      isn't a ``fundamental mission of Microsoft.'' Still,
      CarPoint is valuable in drawing consumers to Microsoft's
      network of Web sites, known as MSN, which competes
      against America Online Inc. and Yahoo! Inc., analysts
      said. ``It's clearly important to Microsoft to keep
      their hands on good, high-quality Internet
      properties,'' said Epifanio, who has a ``buy'' rating on
      Microsoft. ``CarPoint is by far one of the better

      CarPoint lets consumers buy new and used vehicles online
      and arrange financing, and alerts users when
      maintenance work is needed. Partners include automakers
      General Motors Corp. and Isuzu Motors Ltd. and insurers
      ALLSTATE Corp. and Ohio Casualty Corp.

      ranked as the most visited online car-buying site for
      the first three months of 1999, topping, and, according to Media Metrix.

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