Allstate Insurance Company is one of the leading insurers in US urban areas and the country’s largest publicly held personal lines insurance company based in Northbrook, Illinois. Founded in 1930, as part of Sears, Roebuck & Co., the company grew to be a publicly traded company in the year 1993 which was the largest initial public offering in US history. Allstate became an independent company in 1995.
Allstate insurance was one of the first companies to bring out the sophisticated rate classification system offering cheaper rates to safe drivers. The company opened its first drive-in claim office in 1950 that revolutionized the handling of auto insurance claims. Allstate played a major role in the 60s in convincing the government to make seat belt use mandatory. Allstate was also instrumental in advocating the benefits of air bags and has been supporting auto and highway safety reforms and teen driver’s education. In the 1900s and 2000s the company continues to take a public stand in important public issues concerning the consumers. Allstate as an industry leader is now engaged in reinventing protection and retirement of consumers in safeguarding their protection towards a better tomorrow. Allstate’s leaders, employees and agencies take pride in their ability to serve as a consumer advocate for the American economy.
Today Allstate Insurance Company’s customer base exceeds 17 million. Allstate products and services can be accessed through their agents all over the country and through their website Allstate.com. The company is listed as ALL in New York Stock Exchange (NYSE).
Allstate Insurance Company provides life insurance and supplemental accidental and health insurance. Allstate Financial Group provides annuity, banking and retirement products both individuals and institutional customers. Their products are distributed through their agencies, independent brokers and financial institutions etc. Allstate has won several awards consistently for its employee volunteerism, diversity and philanthropic efforts. Allstate leads in valuing innovation from the employees.
Allstate Insurance Company is recognized for many reasons such as flexible work arrangements, promoting a balance in work and personal life, opportunities for education and career advancement, gender balance - 42 percent of their managers and officials are women, diversity balance – 20 percent of officials and managers are from minorities and many welfare initiatives. Allstate has education programs like on-site undergraduate, MBA or professional courses and ConSern Education Program. Their employees and their families have access to education loans. The company addresses the needs of the disabled with its Allstate Center for Assistive Technology (ACAT). Facilities like on-site dry cleaning, salon, catering and postal services and oil change are available to their employees. There is dependent care support with an on-site childcare center at their headquarters and other near site childcare centers and other discount programs. Allstate is also recognized as one of the best companies for working mothers.
Allstate is ranked A+ Superior by A.M Best, AA (Very Strong) by Standard & Poor’s and Aa3 (Excellent) by Moody’s. Allstate has won numerous awards. In 2007, Forbes Magazine has ranked it Number 5 in Property & casualty Industry.