Tag: allstate agents

Why Allstate Is Dodging Florida and California in Its Expansion Plans

Nordstrom
Allstate steering clear of Florida and California

Allstate’s New Focus Does Not Include California and Florida In a significant strategic move, Allstate is positioning itself to capitalize on growth opportunities in the homeowners insurance market by focusing on lower-risk areas, consciously steering clear of Florida and California. This decision aligns with the company’s commitment to maintaining profitability while navigating the increasing challenges posed by severe weather events and inflation. Navigating the Risk Landscape Allstate’s decision to avoid expanding its homeowners insurance market share in Florida and California stems from the heightened risk of weather-related losses in these…

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Allstate issues warning for agents regarding tax document errors

Allstate Corp. has issued a statement to its insurance agents, warning them of a discovery of a number of errors occurring on their year-end reports and tax documents, which show information about annual incomes and figures that are used in the calculation of their annual bonuses. This warning about errors comes only a month after the insurer made another type of miscalculation that cause the commissions in January to be underreported. These most recent mistakes have re-ignited a new upset from the sales force at the insurance company, where there…

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Allstate Insurance growth outlook

Marc

Allstate is looking to improve its home and auto insurance units by 2013. Executives at the massive insurance company spoke with investors the other day regarding the matter, saying that focusing on these units will help them recover from losses earlier this year.  Allstate’s auto insurance unit has been hemorrhaging clients for three consecutive years, a trend that executives expect to continue throughout 2011, only to see modest growth again in 2013. The renewed focus on these units comes after Allstate’s CEO, Tom Wilson, reported “inadequate returns.” As far as…

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Allstate invests heavily in online market

S.Vagus

Allstate has announced the acquisition of insurance giant Esurance as well as its subsidiary Answer Financial. Allstate will pay in excess of $1 billion for both. The move comes in an effort to capture a bigger portion of the online market. An increasing number of consumers are shopping for insurance policies online, making Esurance a popular medium for finding affordable coverage. The massive insurance corporation has witnessed business in its personal lines dwindle of late. Allstate is looking to expand its service to online consumers, many of whom favor the…

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