The Allstate Corp - Company Profile

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The Allstate Corp: Segment Analysis

Business Description

The Allstate Corp (Allstate) is an insurance products provider. The company, along with its subsidiaries, offers a range of life, non-life and health insurance solutions to corporate and individual clients in the US and Canada. It also operates in Europe, Asia, America, Australia, and Canada. As of December 31, 2022, the company reported policies in force of 194 million.

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Business Segments

Overview

Offers voluntary benefits products, which offers financial protection against illness, accidents and mortality, in all US states, the District of Columbia, and Canada. Offerings include life insurance, critical illness insurance, short-term disability insurance, accident insurance and other health insurance products. Markets and sells its products through a network of benefits brokers, Allstate exclusive agents and independent agents. Intends to enhance its substantially value through innovative products and technology, exceptional service and tailored solutions through investments in data and analytics capabilities and future-state technologies.

Performance

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Overview

Provides homeowners insurance and private passenger auto insurance through contact centers, agencies and the Internet in all 50 US states, the District of Columbia, and Canada under three brands, namely, Allstate, National General and Answer Financial. Product portfolio includes auto insurance, homeowners insurance, motorcycle insurance, trailer insurance, renters insurance, motor home insurance, off-road vehicle insurance, manufactured home condominium insurance, boat insurance, umbrella insurance, landlord insurance, commercial lines insurance, recreational vehicle insurance, boat and stand-alone scheduled personal property insurance. Intends to enhance market share of personal lines through transformative growth by expanding customer access, strengthening customer value, improving sophistication and investment in customer acquisition, and utilising new technology that support customer experience and product management ecosystems.

Performance

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Overview

Comprises holding company activities and some non-insurance operations.

Performance

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Overview

Provides consumer product protection plans, roadside assistance, device and mobile data collection services and analytic solutions, and finance and insurance products, comprising guaranteed asset protection waivers, wheel and paintless dent repair protection, vehicle service contracts and road hazard tire. Operates through Arity, Allstate Protection Plans, Allstate Dealer Services, Allstate Identity Protection and Allstate Roadside Services. Conducts business mainly in the US, and also has businesses offering services in North America, Europe, Australia and Asia. Allstate Protection Plans strategy is to expand new and existing domestic retail customer accounts and mobile operators across Asia, Europe and North America. Arity intends to leverage data, analytics and deep understanding of driving, mobility and risk to create a strategic platform. This platform is employed industries that are affected mostly by changing transportation face, including mobility companies, insurance companies, and the automotive ecosystem. Allstate Roadside aims to modernize the roadside business assistance through enhanced capabilities and technology to provide a superior customer experience. Allstate Dealer Services aims to expand distribution of Allstate branded finance and insurance products with auto dealerships. Allstate Identity Protection aims to create a leading position in the identity protection market, to provide a diverse range of identity protection including identity monitoring, identity theft remediation and reimbursement and digital exposure reporting. Also planning to expand product breadth beyond identity protection and into consumer digital enablement, privacy protection and other distribution channels expansion.

Performance

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Overview

Comprises results from property and casualty insurance coverage, which are no longer offered. Also provides information about the company’s exposure to asbestos, environmental and other discontinued lines claims.

Performance

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