Allstate Insurance Company

Introduction

The Allstate Corporation is an investment organization whose part is Allstate Insurance Company. Allstate insurance company is the second biggest casualty, home and property insurance company by quality in the United States. Around 12% of the total U.S. auto and home insurance market share is captured by the Allstate insurance company. The first being the State Farm Insurance Companies (Annual report 2010). The Allstate Insurance Company provides annuity, pension, and personal products. It also provides business insurance to small and medium scale organizations (Annual report 2010).

Allstate has managed to achieve the top most position in the insurance industry (Annual report 2010). It is the one of the leading life and health insurance company in America, second to the competitiors and business rivals the State Farm Organization. The organization's insurance division provides, vehicle, home, property, health and personal insurance services in America and Canada (Annual report 2010). The financial division of the organization caters the clients need for personal insurance with the help of subsidiaries, American Heritage Life, and Lincoln Benefit Life etc. In order to cater the needs of businesses, it has a range of investment services, which targets potential and middle class clients (Annual report 2010). The company also offers road service in case of emergencies and in addition to its portfolio, the organization also providess the national online Allstate Bank.

The company serves its customers by serving through its 15,200 agents and numerous other independent representatives, in Canada and America (Annual report 2010). Life, home and health insurance policies make up to almost half of the company's revenue.

Discussion

The financial division of Allstate providess insurance for personal and business purposes, health, investment and retirement products etc. Its customers are served the elite agencies (Annual report 2010). The Financial strategy of Allstate envisions providing insurance and retirement services to the customers. They provide products that easily suitable for the customers of mid class market and new and emerging customers which provides them understanding and meeting their need for insurance. It also provides help to its customers in preparing them for the retirement (Annual report 2010).

To realize its mission, vision and accomplish its economic goals, Allstate has a main purpose in which Allstate tries to broaden its financial products for its customers (Annual report 2010). This involves dramatical expansion in the business workplace and restoration of productivity with the help of quality in its operations and optimizing the portfolio (Annual report 2010). The plan of the organization is to add value to Allstate with the help of 3 key methods which are the cost-effective expansion of financial products of Allstate, improvement in the economics of the insurance business with the help of higher loyalty by the customers and renewal rates by advertising financial products of Allstate to accessible consumers and potential new clients of Allstate (Annual report 2010). Allstate is planning to carry on shifting their product mix by diminishing sales of their other products, mainly institutional products and fixed annuities and by increasing sales of endorsed products that ...