Selective Insurance is expected to release its Q4 earnings on January 31st, and it's worth noting that the company is owned by individual shareholders and institutional investors such as Vanguard & BlackRock However, based on my personal experience, to my belief, Selective Insurance leadership team, including President and CEO John Marchioni has not been following their own brand mission statement. Specifically, their claims division with president Paul Kush to my belief, has been overpromising and under delivering on services, which could have a significant impact on their stock. To my belief, their archaic approaches and policies have resulted in increased administrative costs to policyholders and a possible lower bottom line return to shareholders.
It's important to never take a claimant for granted, as Selective Insurance may learn the hard way ignoring a claimant instead of finding an amicable resolution for settlement, winding up in a full trial raising administrative costs for clients.
From my experience, they continue to not mitigate risk, raise administrative costs where possible, and take an archaic approach stance when a claim could have been settled amicably prior to trial.
This could certainly have a deep impact on the Total Cost of Risk (TCOR) and may lead future or current clients to my belief, to look to other carriers when reviewing deductibles/SIR if self-insured.
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College students are often surprised at the diverse careers in the insurance industry. That’s why we encourage you to attend Selective’s Internship Open House at our Corporate HQ in Branchville, NJ, on January 9 from 4:30 to 6:30 PM. You can explore our campus, discover internship opportunities, and connect with decision-makers. Selective internships take place during the summer and are full-time, paid experiences. All college students are welcome to apply: https://ow.ly/Mu1h50Qfv3S
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