Once Upon a Profit — The Secret McKinsey Fairy Tale
How a corporate supervillain convinced the industry to turn criminal
Part one of a two-part series. J.C. traces State Farm’s roof-claim strategy back to the moment Allstate, newly separated from Sears, hired McKinsey to remake how it handled claims. He tracked down a hard-to-find McKinsey white paper and reads it closely, showing how it pitched claims departments, which state laws discourage from being run as profit centers, as a source of profit.