Churn and Burn - Anonymous employee Liberty Mutual Insurance Employee Review

There are many, but here are the highlights: high pressure sales goals and rate need. Auto rate was being pushed up by 20% or more when the competition was taking less than 10%. LM is partly responsible for the commoditization of commercial insurance because they force underwriters to push for ridiculous rate goals. In doing so, buyers become price shoppers, which is also exactly what LM does not want. Underwriter's don't really underwrite. A system spits out a "PI Score", read: rate increase need that is really non-negotiable. You have to get that rate increase or you'll get called out for not achieving your rate need. Forget about external market factors - that's not a valid excuse at Liberty. You're supposed to talk about how much you value the insured/agent relationship, but when it comes down to it, you honor rate increases above all else - it does not matter that an insured has been loss free for 40 years. If LM needs a 50% increase, you better take it. My manager encouraged the underwriters to get adderall prescriptions so we could boost our productivity. Also, the systems are pretty terrible. Everything is stored in a different place, there's no way to really check on a quote status unless you do so manually, which leads to a lot of quote follow up questions falling through the cracks since it's entirely up to the underwriter to follow up, and it's easy to forget given how busy you are. In summary, underwriters are over worked, not really allowed to underwrite. Your roll as and underwriter will be to push rate increase or non-renew renewals and to max credit new business in order to write it, only to take a 50% increase the following year.