Farmers Insurance to Cut Commissions and Increase Bonus.

[hesse]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

somebody should probably warn marsh and hub

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

somebody should probably warn marsh and hub

It's too late for them....it's too late for all of us. Farmer's & agency MVP shall be shall be the only ones left after the machines scorch the planet. IA's will be kept alive in a vegetative state...their bodies used to fuel the machines.

The only hope (not just for insurance professionals...but ALL of mankind..) is Agency MVP. Then, a religion shall start surrounding agency MVP as it's the savior of mankind. Todd02 shall be the messiah whom all humanity shall worship for the remainder of Earth's existence.

 

[VolAgent]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

It's too late for them....it's too late for all of us. Farmer's & agency MVP shall be shall be the only ones left after the machines scorch the planet. IA's will be kept alive in a vegetative state...their bodies used to fuel the machines.

The only hope (not just for insurance professionals...but ALL of mankind..) is Agency MVP. Then, a religion shall start surrounding agency MVP as it's the savior of mankind. Todd02 shall be the messiah whom all humanity shall worship for the remainder of Earth's existence.

A little melodramatic today?

 

[todd02]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

A little melodramatic today?

That time of the month.... Ever since he Facebook stalked me and saw my smoking hot wife....

Agents need to focus on ROI and getting lean fast.

Indys are fine in general. Just going to be a massive consolidation soon with secondary- non standard market. There is a reason essurance and 21st century auto going out of business.

 

[Lopezshow]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

That time of the month.... Ever since he Facebook stalked me and saw my smoking hot wife....

Agents need to focus on ROI and getting lean fast.

Indys are fine in general. Just going to be a massive consolidation soon with secondary- non standard market. There is a reason essurance and 21st century auto going out of business.

I'm curious how did he find you on FB lol?

 

[Matt37]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

indys are going to get flushed out. Tech is going to automate everything. Same thing happened to the banking industry. Tons of small banks went out of business or bought. They have automated tellers now. All carriers are going to fire their middle management like district managers, increases bonuses for good producing and high customer service scoring Agents.

Then tech is also going to force carriers to merge until the Govt stops it. This is where Indys get flushed out. One small part of my tech for instance is tracking rates for every zip code in the US. If a carrier takes a big increase every other carrier using my tech can sick their entire agency force in the area against that carrier. This will also change the way insurance companies rate people and not so heavily focused on credit scores which is nuts. So much you don't know. I'd get off the Indy train while you can.

I cannot wait till these "tech" carriers who don't know their head from their ass when it comes to insurance try to automate the process with predictive modeling... quickest way to go into liquidation.

comparing it to the banking industry is not a good comparison... many more variables and nuances in insurance.

 

[VolAgent]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

I cannot wait till these "tech" carriers who don't know their head from their ass when it comes to insurance try to automate the process with predictive modeling... quickest way to go into liquidation.

comparing it to the banking industry is not a good comparison... many more variables and nuances in insurance.

Finally a more intelligent comment on this thread.

Automation is coming. There is no doubt about it. However, there is a role for the agent in all forms of insurance. It is constantly referred to as a commodity, I even saw someone try to call commercial insurance a commodity, which is probably the line with the most variation from carrier to carrier. However, even in personal lines it isn't truly a commodity. How many carriers have proprietary policies or amend or endorse an ISO policy form? The more difference there is from one policy to the next, the more room there is a for an agent to deliver value.

Even the captives are moving away from price based advertising. I can't recall the last State Farm, Allstate, Farmers, Liberty Mutual, etc. ad that was all about premium savings. Most now are focusing on coverage, differences and potential holes in coverage. They are leaving the price ads to Geico, Esurance (which seems to have stopped all advertising), and non-standard direct writers.

As agents, it seems our role is to use automation where we can, but also focus on where we can stand out. How do the policies differ, is that worth the price difference to the consumer?

Will Todd's tool help in that? Not that I can see. It appears to be focused on finding prospects that just had a rate increase. Perhaps if he expanded it to pick apart the policy in comparison as well then it might be more useful in surviving in an automated world. Otherwise it seems to just be a tool to increase automation.

 

[insurance1822]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

I have seen countless software's over the years (many were REALLY good..) but they never seem to stick. I saw software where a particular internet lead would come in & the captive's system would automatically generate a best case scenario quote & email it to them within (literally) seconds. Then it would port to the agency to work, call etc & it would automate the follow up process.

Again, I have seen software that has been truly excellent. FOR WHATEVER REASON, it never seems to stick (in my experience.) There always seems to be a disconnect between the system & end user where it eventually falls to the wayside. I don't know why this happens & I guess that's where the challenge lies for the software designers.

Most insurance agencies have retard agents who know nothing (younger agents who grow their books do NOT represent the majority...) and then underpaid, under-educated staff who sell & service. It's kind of like myself w/ these new $1,500 camera I just bought. It can literally do everything, but after a few days I'm still using my iPhone because it's easier & the expensive camera is just too much to learn.

Hey, you never know though. The concept (of course) makes sense so we wills ee.

 

[Matt37]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

Finally a more intelligent comment on this thread.

Automation is coming. There is no doubt about it. However, there is a role for the agent in all forms of insurance. It is constantly referred to as a commodity, I even saw someone try to call commercial insurance a commodity, which is probably the line with the most variation from carrier to carrier. However, even in personal lines it isn't truly a commodity. How many carriers have proprietary policies or amend or endorse an ISO policy form? The more difference there is from one policy to the next, the more room there is a for an agent to deliver value.

Even the captives are moving away from price based advertising. I can't recall the last State Farm, Allstate, Farmers, Liberty Mutual, etc. ad that was all about premium savings. Most now are focusing on coverage, differences and potential holes in coverage. They are leaving the price ads to Geico, Esurance (which seems to have stopped all advertising), and non-standard direct writers.

As agents, it seems our role is to use automation where we can, but also focus on where we can stand out. How do the policies differ, is that worth the price difference to the consumer?

Will Todd's tool help in that? Not that I can see. It appears to be focused on finding prospects that just had a rate increase. Perhaps if he expanded it to pick apart the policy in comparison as well then it might be more useful in surviving in an automated world. Otherwise it seems to just be a tool to increase automation.

Automation has its place no doubt.

I know I am an old fart and have an old school mindset but I teach some licensing and continuing education classes in PA and I tell these young producers, now is the time more than ever to build personal relationships with clients.. as everyone tries to go to automation, you will stick out amongst the crowd.

These IS and always WILL BE a relationship driven business.. I don't care what Silicon Valley says.

 

[shawnmwalker]

Re: Farmers Insurance to Cutt Commissions and Increase Bonus.

This conversation got too boring too fast.

Y'all took this to a new passionate place like a bunch of ReInsurance/ tech Geeks!

I stopped reading, but if I have to choose a side, Ins1478 usually seems to fall on the correct side of the line.

but VolAgent is usually pretty spot on too....and in a less offensive way....I am not sure if those two fell on he same side the line....If not I'll got with agentMVP. Seems like that is going to win in the end anyway.....