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Wow...I read through some of those letters by agents...this sounds like it is getting really ugly. Are there any positives about being affiliated with Allstate right now?
I Am Thinking About Becoming Allstate Agent
- Thread starter Usfbulls25
- Start date
Wow...I read through some of those letters by agents...this sounds like it is getting really ugly. Are there any positives about being affiliated with Allstate right now?
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So if you're Indy it's not as bad with them?
M
MichiganAgent
Guest
I don't sell P&C, and I'm not interested in doing so. But I am being BOMBARDED by Allstate Corporate AND Agency owners looking to sell me a business.
When I told one of the agents I wasn't interested he confided in me that he was losing business at the rate of around 10% per month, and Allstate was considering cutting their commissions by as much as 30%!
Again, I have no way of knowing if this is accurate or not, I am not now, nor have I ever been an Allstate agent. All I know is, 3 years ago Allstate wanted $20,000 minimum for you to open an office, and they are willing to work on lowering that amount today.
Be afraid...be VERY afraid. Like someone else on here said, do your homework before you plunk down any cash.
When I told one of the agents I wasn't interested he confided in me that he was losing business at the rate of around 10% per month, and Allstate was considering cutting their commissions by as much as 30%!
Again, I have no way of knowing if this is accurate or not, I am not now, nor have I ever been an Allstate agent. All I know is, 3 years ago Allstate wanted $20,000 minimum for you to open an office, and they are willing to work on lowering that amount today.
Be afraid...be VERY afraid. Like someone else on here said, do your homework before you plunk down any cash.
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I guess they're not in good hands after all...
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Not in my area. We actually are doing great...been one of the top performing IA's in this region for awhile. Every company has it's ups and downs...the coastal property issue is the biggest factor for us with Allstate. Auto rates are great now and they are our go to company if credit, and records are clean. We have many other carriers so if the price won't work with Allstate...we move on and find a company that will fit. I am not going to comment on the EA contract...I have no idea, but as an Allstate IA I have no complaints.
I would never want to be in this business at all if I was an EA for any carrier. It would make life simple...one set of guidelines, UW, software, payment screens, etc...but I like to having the ability to look over many different companies for the same client.
I have been in Insurance/financial services/banking for more than 16 years. I have worked for 4 very large coroporations in these fields. A couple months ago I decided that I was going to make another stab at being a business owner or at least be a bit more independant. I have researched both Allstate and State Farm for a while now.
In regards to Allstate I don't find all the problems that are mentioned to be worthy of the anger. It seems to be an acceptable trend at the moment to bad mouth Allstate. I have found a lot of arguments of: the hours the office is open, fowarding phones, and minimum production requirements. Many of the other complaints are rumors, some starting in 2000, and yes they are still going.
We should try and stick to the facts: Yes there are min. production requirements. (The same as any other company)
Allstate did start to make lots of changes starting around 2000-2003 where many old timers started getting upset and did not like the changes. Some guys feel they should just be able to sit back and collect money without any further production. Allstate said NO, you must produce. Hince, guys selling agencies or being terminated for not producing. (They could hire 3-4 Agents to produce for them)
As a prosepective Allstate Agency Owner I find no problem here. Allstate seems to fit my needs where I have not found another business that does. For all those guys who say run from Allstate, please give an alternative. I would love to hear it. But don't even try and tell me to go out there and start an IA from scratch.
In regards to Allstate I don't find all the problems that are mentioned to be worthy of the anger. It seems to be an acceptable trend at the moment to bad mouth Allstate. I have found a lot of arguments of: the hours the office is open, fowarding phones, and minimum production requirements. Many of the other complaints are rumors, some starting in 2000, and yes they are still going.
We should try and stick to the facts: Yes there are min. production requirements. (The same as any other company)
Allstate did start to make lots of changes starting around 2000-2003 where many old timers started getting upset and did not like the changes. Some guys feel they should just be able to sit back and collect money without any further production. Allstate said NO, you must produce. Hince, guys selling agencies or being terminated for not producing. (They could hire 3-4 Agents to produce for them)
As a prosepective Allstate Agency Owner I find no problem here. Allstate seems to fit my needs where I have not found another business that does. For all those guys who say run from Allstate, please give an alternative. I would love to hear it. But don't even try and tell me to go out there and start an IA from scratch.
Bill the way you are explaining the Allstate opportunity would make me think that you are actually an Allstate recruiter or management. You do not talk like a prospective agent. Now I could be wrong but that is how it appears.
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I thought the same thing....I know a few Allstate agents and talked to one recently who is a relatively new agent (8 yrs) and he is not happy with them. So I don't think it's just the "old timers"
I also talk and know a lot of people in the restoration industry. I am always asking them about claims handling with different companies...for the past few years (at least) I've heard nothing but bad about Allstate in my area anyway...this can't help matters either.
I understand that since I am new here and this is my first post you would be suspicious of my post. I have been on enough forums to realize that when I posted. I will do what I can to clear it up, however I am not free to give additional info about myself since I am still presently employed elsewhere.
I did a lot of research, talked to just under a dozen present Allstate Agents, and just do not find the problems that I hear many talk about. My feeling is that there are so many more like me that will buy up these agencies, complain all you want. I am presently in negotiations for the purchase of an Allstate Agency but have never been employed with them before.
Not one of any present agents had anything bad to say about Allstate. Two former agents I spoke to both regreted selling their agencies. Yes I am talking EA not IA. The simple fact is, is that guys had it good for so long they didn't want to change. Well Allstate is continuing to move forward, jump on the bandwagon or get off. I am looking at a book with premium over 3 mill and will pay a bundle for it. I am young and aggressive and will hopefully double it in a matter of a few years. If I am wrong and Allstate truly does suck, hopefully I can sell and get out. Huge advantage that others seem to always skip.....I can sell.
But I am still willing to hear actual facts not rumors, and will change my mind if I need to. I really do not want to waste my time on a bad decision, if this is one. But you have to realize you are telling me, after I have done research and made a decision, no don't do it....i heard.....Thats like someone telling you, on the day of your wedding, no don't marry her. I cant tell you why, just run. You either run and leave her standing there or you think in the back of your mind for the rest of your life "what was he talking about".
Now that I put everyone to sleep and killed the thread...
