Financial consultant Interview Questions in Atlanta, GA

I said this could decrease business in other product lines such as autoinsurance.

The company would certainly lose out on business, due to the simple fact that people are forgetful and a majority would likely forget to renew their policies on their own each year. On the other hand though, considering this policy would be taking place in areas with hurricanes, they could stand to save some money/cut back on expenses. Assuming that people forget to renew their policies, they would no longer be able to make a claim when their property is devastated by the hurricane, leaving Allstate with less damage claim expenses. While this policy could potentially save money, it is likely to lose more than it gains. Hurricanes are not a guarantee, and while payments for policies are technically not guaranteed either, we can assume that if Allstate were to automatically renew a specific person's policy, this means that said customer keeps up with their payments. By doing this, Allstate would be gambling on the chance that a hurricane could cause enough damage to save them more in damage expenses than they would lose in policy payments.