Profile: Allstate Corp (ALL)
1 Jul 2015
The Allstate Corporation, incorporated on November 5, 1992, is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business. It offers its products in the United States and Canada. Allstate operates in four business segments: Allstate Protection, Discontinued Lines and Coverages, Allstate Financial, and Corporate and Other. The principal geographic markets for its auto, homeowners, and other personal property and casualty products are in the United States. Through its subsidiaries, it sells various types of personal property and casualty insurance products in around 50 states, the District of Columbia and Puerto Rico. It also sells personal property and casualty insurance products in Canada.
The Company’s Allstate Protection segment sells private passenger auto and homeowners insurance through agencies and through contact centers and the Internet. It sells these products under Allstate, Esurance and Encompass brand names. Allstate serves four different consumer segments with distinct interaction preferences (local advice and assistance versus self-directed) and brand preferences (brand-neutral versus brand-sensitive). Allstate brand auto and homeowners insurance products are sold through Allstate exclusive agencies and serve customers who prefer local personalized advice and service and are brand-sensitive.
The Allstate brand also sells specialty auto products, including motorcycle, trailer, motor home and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella and manufactured home insurance policies; commercial lines products for small business owners; roadside assistance products, and service contracts and other products sold in conjunction with auto lending and vehicle sales transactions. In the United States, it offers these Allstate brand products through approximately 10,000 Allstate exclusive agencies in approximately 9,800 locations. It also offers these products through approximately 2,000 independent agencies that are primarily in rural areas in the United States. In Canada, it offers Allstate brand products through approximately employee producers working in five provinces across the country, including Ontario, Quebec, Alberta, New Brunswick and Nova Scotia.
The Company’s Esurance brand auto, homeowners, renter and motorcycle insurance products are sold directly to consumers online, through contact centers and through select agents, including Answer Financial. Esurance serves self-directed, brand-sensitive customers. Encompass brand auto, homeowners, umbrella and other insurance products, sold in the form of a single annual household (package) policy, are distributed through independent agencies that serve consumers who prefer personal advice and assistance from an independent adviser and are brand neutral. Encompass brand products are distributed through approximately 2,400 independent agencies. Answer Financial serves self-directed and brand-neutral consumers. It offers comparison quotes for auto and homeowners insurance from approximately 25 insurance companies through its Website and over the phone.
The Company’s Allstate House and Home insurance is its homeowners product that provides options of coverage for roof damage, including graduated coverage and pricing based on roof type and age. Its Good Hands Roadside Assistance is a service that provides pay on demand access to roadside services. Its Allstate branded Drivewise and Esurance DriveSense offerings are usage-based insurance programs that use an in-car device or a mobile application to capture driving behaviors and reward customers for driving safely. Its Star Driver program encourages an ongoing conversation about safe driving through an application to develop teens' confidence behind the wheel. It offers Esurance DriveSafe program to help parents coach teens on safe driving by providing driving statistics and the ability to limit cell phone use while the car is in motion, which is controlled by a device installed in the vehicle.
The Company’s Allstate Financial segment sells variable life insurance and voluntary accident and health insurance products. It sells Allstate Financial products through Allstate exclusive agencies and approximately 1,170 exclusive financial specialists and workplace enrolling independent agents. Allstate exclusive agencies and exclusive financial specialists also sell non-proprietary retirement and investment products, including mutual funds, fixed and variable annuities, disability insurance and long-term care insurance. The Allstate exclusive agencies offer sale products targeted to consumers that prefer local personalized advice and branded products from both the Allstate Protection and Allstate Financial segments. The Company’s Discontinued Lines and Coverages segment involves long-tail losses, such as those related to asbestos and environmental claims. Discontinued Lines and Coverages segment includes results from property-liability insurance coverage.
The Company competes with State Farm, GEICO, Progressive, Farmers, Liberty Mutual, USAA, Nationwide and Travelers.
2775 Sanders Rd
NORTHBROOK IL 60062-6110