This is the fifth time the insurer has been honored with this coveted title by the ethics standards firm.
Ethisphere Institute has recognized Allstate as one of the 2019 World’s Most Ethical Companies for the fifth time. The firm is a global leader in the definition and advancement of ethical business practice standards.
Allstate is one of seven companies to have received the title from Ethisphere for 2019.
The insurer has been named as one of the World’s Most Ethical companies for five consecutive years. The designation underscores the insurance company’s commitment to its core values, which it defines as “honesty, caring and integrity,” said an Allstate news release.
“We are honored to be named one of the World’s Most Ethical Companies for the fifth year in a row,” said executive vice president, general counsel and secretary of the Allstate Foundation, Susan (Susie) L. Lees. “Our employees deserve full recognition for this award. It’s their day-to-day decisions and relentless focus on the customer that earn us this prestigious title.”
There were 128 total honorees this year, from 50 different industries and 21 countries. Their honors were from within 13 different classes. Allstate was one of seven companies that received their title. Their honoree class places the spotlight on the way companies are working to play a central role in improving communities while developing empowered and capable workforces and promoting ethical corporate cultures with a solid sense of purpose.
The value of being recognized as one of the World’s Most Ethical Companies is rising among investors.
Investors, stakeholders and employees alike are placing an increasing value on the ethics of a company with which they form a relationship.
“Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform but last,” said Timothy Erblich, Ethisphere CEO. “I congratulate everyone at Allstate for earning this recognition.”
The Ethisphere Institute uses its own unique Ethics Quotient (EQ) framework in order to measure and score the World’s Most Ethical Companies from among its candidates.