Allstate Direct Sales is the nature and the manner in Oregon
Allstate’s insurance intermediaries must be the “best services of a computer” to survive in society of new hybrid sales model, after a conference of analysts, follows Northbrook, IL-based company.
Allstate Corp., one of the greatest nation insurance companies with an annual turnover of 25 billion dollars, began selling directly to auto insurance consumers in Oregon this month on its website As part of a broad restructuring announced last year. The company expects to distribution channels direct federal state, in competition with its dense network of 15000 agents.
“Channel conflict is a must swallow the pill,” said analyst Alain Karaoglan Donaldson Lufkin & Jenrette, New York.
He said, Allstate policy offers to buy the same price that consumers on the Internet, by phone or by an agent, so that agents can not complain that their company is included in the price.
“At the end of the day, when the customer would rather with a computer with an agent, then that the agent does not deserve a commission,” he said. “Over the long term, I think, what it needs to make the weed low agents, and reinforcing agents, in order to survive. ”
He also said the Allstate agent was assigned to cross-selling other products for consumers, insurance direct sales channels, so that neither the agents will have the opportunity to win commissions on the direct sale of the company.
Allstate executives were not available, for their strategy, but the company said that analysts, to cover its internal forecasts for setting up direct / Agent hybrid model. On the company’s website, allstate.com, it provides a link to Oregon residents only, so they receive an offer to buy online or policy. It also contains a tool to find an agent and other duties to help consumers buy their auto insurance.
Karaoglan said it was too early to assess the success of the initiative, but advisers Don Jackson said he expects Allstate in a battle to climb a direct seller.
“I think it is to give them a lot longer, as she thought it was for them,” said Jackson, an adviser, headquartered in Middletown, DE.
He noted that the company does not have a long history of interest in the direct marketing channel. Last year, the company has eliminated, for example, the direct marketing sector CAN Personal Lines insurance company, she had acquired.
He said that the company appears to be forced, in a direct sales strategy of economic forces.
“It seems like a logical choice for a company like Allstate to go on the Internet and direct selling, because to reach this way, they are expanding their distribution channels and in all likelihood, that integration, they can here some very positive results, probably welcomes Wall Street, “he said.
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