Exclusivefocus - National Association of Professional Allstate Agents ...

letters to NAPAAour combined retention ratio is about92.5%. Any advice is greatly appreciated.Thanks for all your help.Editor’s response: In my opinion, 3X annualcommissions would be an exceptionalprice considering the location of your agencyand the current economic environment.There are a lot of factors involved in pricinga book. First, the Region would haveto approve a merger of your books. The sizeof your combined books will make a differencetoo. In general, smaller books fetch lessthan big books do. If your combined booksare $3 million range, you will have a bettershot at the higher multiple. Also, don’tbe surprised if management offers up somebuyers. Oftentimes these buyers are “coached”about how much they should offer, especiallyif they know you are desperate. Once thecompany knows your books are for sale, yourMDL will start suggesting buyers. Beware,because this process may not be in your bestinterests. One mistake that many agentsmake is going to their MDLs to get buyerapproval. If at all possible, don’t do this. Requestsfor buyer approval should go throughthe RDL. Another consideration is the glutof books on the market. We expect it to getworse before it gets better. This may not bethe case in your state, but smart buyers maylook at states where book prices are depressedand the multiples are lower.Since you’re a member, I believe we canhelp you avoid some of the pitfalls in the saleprocess. Give us a call with your questions.Nancy Fish, our association manager, is aformer manager and is especially knowledgeableon this topic.. . . . . . . . . . . .I have been an agent with Allstatefor over 18 years. Recently, I received a90-day termination letter from my TDLindicating that my contract would be terminatedfor "failing to achieve businessobjectives established by the Company.”The letter was not on company letterhead,and was signed only by the TDL.Before that, on February 29, 2008, I hadreceived a letter that stated: "Failure tosignificantly improve results could jeopardizeyour agency's continued relationshipwith Allstate." This letter was onletterhead, and signed by the TDL.After receiving the first letter, I contactedthe TDL and, because he wasbetween flights, he said he would callme back. He called several days later,and then on a conference call with me,my partner and our IDL, he suggestedthat we hold seminars at hotels in ourarea, at our expense and push AWD. Hewent on and on about how if we spentthe money, we would have results. I didnot have the money to do this. Besides atanking economy, Allstate was cancelinghomeowner policies and our auto ratesare very uncompetitive.It is difficult enough to hold on towhat we have. We spend most days tryingto convince 15-year customers not toleave. My loss ratio is 32% and my retentionis 94%. I come to work every dayand actually deal with all my customersmyself.I love my job as an Allstate agent anddo not want to leave. I am being forced tosell my BOB in the worst recession sincethe Great Depression. And as a parentof two young children with a mortgage,I have to spend my holidays trying to sell“my business” and look for a new job,so that I do not lose my house. WhenI called Allstate management to expressmy shock, they were very nonchalantand acted as if they just wanted me to goaway. I do not know what the motivationbehind this decision is, although I knowthat it is wrong. If you can help, or addany insight, please contact me.. . . . . . . . . . . .Editor’s note: The email letter belowwas forwarded to NAPAA from Canada. Itwas sent to the following Allstate Canadamanagers: Chris Kiah, Christianne Dostie,Tim Currie, Rose Cisterna, Tom Rose, EricPickering, Sue Morrison and Pete Breuer.As I begin this note, I know that youhave seen many, and will, most definitely,see many more of the same, but I justcan`t bring myself to leave [Allstate]without getting a few things off of mychest!As June 15, 1981 has been an extremelyspecial date for the past 27 yearsplus, you can then understand that February13, 2009 will now likely replacethat date in my life. You see, June 15,1981 was the day I began my career withAllstate and today is the day it is ending.Not by my choice, unfortunately, but itseems almost forced out the door. It hasbeen a great ride for these 27 years butyou guys have made it a very bumpy oneover the past couple of years.When I think back to 1981, as abrand new agent, attending meetingsand kick-offs with all of the most senioragents of the time, it was a learning experienceand a very exciting time. I lookedup to those agents, names like Al Lazaro,Dev Chugh, Jim Werechuk, BrianBulbulia, Ed Washington, Ted Devinish,and many, many more like them. Theseguys were the class at the time! Alwayswilling to help the new kid on the block!I looked up to them! The same goes forthe management of the day. Ken Parker,Gary Moroney, Lorne Clodge, GerryRoberts, and, once we got rid of JerryFournier, all of the presidents who followed.The difference between thosedays and now—respect! They always hadrespect for the agents and the agents allhad respect for them. It seems that now,that has disappeared. There cannot berespect from the leadership team, andhave us (the agency force) treated in themanner we have been!For all of the years I have been withAllstate, I have respected this companyand have shown that to my friends, myclients and my peers. That respect hasleft me. I can no longer say that I amproud to represent Allstate. This companyhad heart, but this leadership teamhas succeeded in ripping that very heartfrom the body of Allstate and left it tosimply die!That having been said, how can I remaina faithful, loyal, dedicated agent? Time toSpring 2009 Exclusivefocus — 53