In 1931, the Sears Roebuck Corporation established Allstate Insurance as a subsidiary. In fact, Allstate Insurance was available and featured in Sears stores until the early 1980’s. By that time, the company’s shares was shared among stockholders and offered for public trading at the New York Stock Exchange. With the NYSE ticker symbol, ALL, Allstate Insurance is the biggest publicly held personal insurer in the country.
As the second largest personal insurer in the United States, it ranks 13th when it comes to life insurance policies. The company’s largest policy base is for automobiles, followed by life insurance and life investment products. Allstate is estimated to have some 17 million clients, acquired through nearly 15,000 exclusive distributors. With the advent of internet-based services, Allstate ventured into the web and has taken a strong advance in online sales, proving itself to be immensely competitive.
Aside from its car and individual policies, the company also caters to small business and commercial enterprises. Allstate has many different business products and services like the landlord package, and the custom business package. The company offers life protection policies by way of mutual funds and 401(k) programs which can be availed of individually or through employers. Being a provider of property and life policies for over three decades, Allstate has earned a reputable name and remains strong thanks to its firm practices and principles.
The company’s marketing strategy has played well for it, increasing Allstate’s identity as a company. Because of the constant care and attention given to its clients, most of the company’s policyholders retain their policies instead of considering other insurance providers. This translates to a strong customer base and support that other companies can never contend.