Allstate shifts focus toward digital insurance while streamlining its business

Digital insurance - person using computer

The giant is setting itself up for growth on acquisitions, divestitures and technology investments. The Allstate Corporation is aligning itself with a growth plan based on business streamlining, which will include digital insurance technology investments, acquisitions, divestitures, and other initiatives for long-term growth. The nationwide insurer has experienced revenue increases every year – including last year – since 2011. Last year, Allstate still grew its revenue by 0.3 percent. The company’s efforts to remain in positive growth last year was an impressive one when considering the difficult circumstances that it…

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Allstate Corporation P/C IFS Rating A+ from Fitch

Allstate Corporation - Allstate Business

As positive as the insurance news is for property and casualty, life entities are still watch rated. Fitch Ratings has affirmed the Insurer Financial Strength (IFS) A+ (strong) status of the core property and casualty insurance subsidiaries at Allstate Corporation. This is positive insurance news for the company that has faced massive natural disaster losses. Overall, the Rating Outlooks issued for the company are Stable. That said, at the same time that the insurance news was positive for Allstate Corporation P/C, Fitch maintained the Negative Watch on Allstate Life Insurance…

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5 Awesome things your local car insurance agents can teach you

local car insurance agents let you know coverage you do and do not have #carinsurance #rentalcarinsurance #allstatedrivewise

You might be shocked at the coverage you do and do not have. Your local car insurance agents have a wealth of knowledge and experience about your coverage that can be everything from fascinating to useful. These facts can save you a surprising amount of money.  Talking to an insurance expert near you can ensure you are protected where you think you are. It’s always a good idea to review your coverage with one of your local car insurance agents once a year to be sure your coverage is what…

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Do your employees need a supplemental accident benefit if they have a health plan?

Supplemental benefit accident health insurance with Allstate for small businesses explained #localagent #businessinsurance #accidentinsurance

Savvy employers are using this insurance to help workers to fill coverage gaps. A supplemental accident benefit, like other types of supplemental insurance policy, is a type of coverage that fills the gap left behind by many types of traditional health plan. Employers are increasingly offering this coverage as an appealing way to draw talented, loyal employees.  Employers give the employee the option to pay all or some of the costs of this coverage. Adding a supplemental accident benefit and other similar forms of “sidekick” coverage to a benefits package,…

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Allstate and State Farm take on tens of thousands of Texas storm claims

Texas storm claims - Snow in city street

The insurers have deployed claim centers and technology to support affected policyholders. As Texas storm claims come rolling in by the tens of thousands, insurance giants like Allstate and State Farm have deployed staff and technology to meet policyholder needs. Allstate has deployed six mobile claim centers into the areas most heavily affected by the storms. The six Allstate mobile centers have been deployed for Texas storm claims in the areas most heavily affected in Dallas, San Antonio, Houston and Austin. Each of them has carefully included COVID-19 safety measures.…

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Allstate Corporation acquisition of National General Holdings Corp closes

National General Holdings Corp - signing contract - business deal

The insurer announced the closing of the deal, which was made for $4 billion. The Allstate Corporation recently announced the closing of its acquisition deal for National General Holdings Corp, for $4 billion. This new purchase is the latest in a number of strategic moves being made by the insurance company. “The acquisition of National General advances our strategy of growing personal lines insurance with an increase of 1 percentage point in market share. Independent agents will now have more protection offerings for customers, with a strong technology platform creating…

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First Allstate Chief Sustainability Officer appointed

Allstate Logo on Sign - Allstate Chief Sustainability Officer

The insurer announced that Susan L. Lees would be the first person to take that position. The first ever Allstate Chief Sustainability Officer was recently announced, as Susan L. Lees took the position. Lee’s previous role as Chief Legal Officer and Secretary of the corporation will be taken over by Rhonda Ferguson, Executive Vice President and General Counsel. Lees is taking the position immediately, as is Ferguson who replaced her in her former role. “This realignment of responsibilities is consistent with Susie’s decision announced in August to focus on environmental,…

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