Allstate Insurance

Allstate Insurance History

In the early 1930s, Sears Roebuck and Company was looking to expand business beyond its retail stores. Realizing that automobiles were changing the way Americans lived and worked, the company knew the average family needed affordable car insurance that was easy to purchase. Allstate Insurance Company was created to fill a void in the insurance world by providing policies through the mail. Customers were able to review applications and make decisions in the comfort of their own homes, without the pressure of an insurance salesperson.

In two years, Allstate’s popularity grew so much that Sears decided to set up offices within its department stores. This kept the company within easy access to a larger customer base but still maintained the accessibility of its catalog sales. By the end of the decade, Allstate insurance began covering towing and emergency service, and revolutionized the industry by customizing rates according to a person’s driving history. For the first time, drivers were paying rates based on their personal history rather than the industry standard. The idea was so popular, other insurance companies soon followed suit.

The company continued to grow steadily over the next few decades, adding life insurance, mortgages, and financial planning. Continuing its reputation for leading the industry, Allstate insurance developed drive-in claim offices and worked with automakers to increase vehicle safety.

Sears sold its shares of Allstate in 1995, making Allstate an independent company. Today, Allstate insurance covers one out of every eight American cars and homes. The company, headquartered in Northbrook, Illinois, has offices in forty-nine states and employs 39,000 people.

Allstate Products

Some of Allstate’s most popular insurance offerings include:

• Car Insurance: Pre-designed packages are now available so customers can choose the car insurance plan that fits their budget and needs.
• Life Insurance: Allstate offers several different life insurance plans and is rated AA by Standard and Poor’s.
• Homeowner's Insurance: In many areas, Allstate guarantees the repair work on your home when you use their approved contractors.
• Flood Insurance: Rates for flood insurance are established by the government, but Allstate provides its signature customer service and rapid response to claims. You may also qualify for Excess Flood Insurance, which Allstate also provides.
• Boat Insurance: Allstate offers several discounts on its boat insurance policies, including a significant discount for new boats and additional savings for completing safety courses.

The Employees

Allstate prides itself on a commitment to diversity and providing its employees with a caring and collaborative work environment. The company’s workforce is made up of 28 percent minorities and 59 percent women. Allstate provides employees generous benefits, including tuition reimbursement, child care discounts, and a group legal network. The company’s corporate headquarters offers onsite childcare plus extra perks like dry cleaning and an oil change center.

The company’s benefits and inclusive nature has earned Allstate praise, including being named one of “America’s Best 50 Companies for Minorities” by Fortune, one of the “100 Best Companies for Working Mothers” by Working Mother magazine, and one of the “Best Places to Work for Latinos” by Hispanic magazine.

Allstate Insurance in the Community

Allstate is deeply committed to helping the community and it works in many different aspects of community service. From developing education programs for domestic abuse survivors to donating funds to the Boys and Girls Clubs, Allstate encourages its employees to become active in volunteering and gives them the tools to succeed at their ventures.

In the aftermath of Hurricane Katrina, Allstate stepped forward to help rebuild the Gulf Coast with contributions of over $6 million. Over $4 million of that total was raised through a company-sponsored donation program that matched employees’ donations to the American Red Cross. The company also offered gift cards to its employees who were affected by Katrina. Over $200,000 in gift cards were dispersed to 800 staff members.