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Allstate

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Allstate
Insurance Company

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Official Site: Allstate.com
Wikipedia: Allstate

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Allstate Tires

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Headquarters: Northfield Township, Illinois, USA
Advertising Slogan: Are you in good hands?

An insurance company founded in 1931 as a part of Sears and named for a Sears brand of tires launched in 1925. It was spun off as in independent company in 1993 but remains local to the Chicago area where Sears is still headquartered.

History

The following section is an excerpt from Wikipedia's Allstate page on 30 March 2017, text available via the Creative Commons Attribution-ShareAlike 3.0 Unported License.

The Allstate Corporation is the second largest personal lines insurer in the United States (behind State Farm) and the largest that is publicly held. The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993. The company has had its headquarters in Northfield Township, Illinois, near Northbrook since 1967. Its current advertising campaign, in use since 2004, asks, "Are you in good hands?" The corporate spokesperson is Dennis Haysbert.

In 1925, Sears held a national contest to decide the name of a new brand of car tires. After over two million name submissions, "Allstate" was chosen as the winner; the trademark was adopted the very next year. The tires' success in both the catalog and retail stores prompted Sears Chairman General Robert E. Wood to praise the Allstate tire's contribution to Sears' retail store success.

The idea for Allstate Insurance Company came during a bridge game on a commuter train in 1930, when insurance broker Carl L. Odell proposed to Wood, his neighbor, the idea of selling auto insurance by direct mail. The idea appealed to Wood, and he passed the proposal to the Sears board of directors, which approved it. Allstate Insurance Company, named after Sears’ tire brand, went into business on April 17, 1931, offering auto insurance by direct mail and through the Sears catalog. This was in line with one of the objectives of a company to sell automobile insurance in the same manner as Sears sold its merchandise.

Lessing J. Rosenwald was Allstate's first board chairman, and Odell was named vice president and secretary.

In 1933, at the Century of Progress World’s Fair in Chicago, Allstate’s Richard E. Roskam sold insurance at a booth in the Sears pavilion. In 1934, Allstate opened its first permanent sales office in a Chicago Sears store.

In 1941, only about a quarter of U.S. drivers had auto liability insurance. This led to the state of New York passing a law which established the financial responsibility of drivers for damage or injuries resulting from auto mishaps. That law inspired legislation in other states, and by the mid-1950s nearly every state had some sort of financial responsibility law on its books.

In 1949 the Allstate Headquarters Building was completed at 3245 W. Arthington Street in Chicago. The mid-rise building is currently vacant (as of 2013) and in danger of demolition. The building is noted for its early post-war mid-rise construction. This location was vacated at some point when the company relocated in the post-war years.

The company’s "You're in Good Hands with Allstate" slogan was created in 1950 by Allstate’s general sales manager Davis W. Ellis. At the end of the decade, it was used in the company's first network television advertising campaign, which featured actor Ed Reimers.

Allstate added products throughout the 1950s, including fire insurance in 1954 and homeowners and life insurance in 1957. Allstate began selling insurance to Canadians in 1953. Allstate Insurance Company of Canada was incorporated in 1964. (In 1952 and 1953, Sears also sold an automobile called Allstate.)

In 1967, the company's home office was moved from Skokie to Northbrook, Illinois. Allstate continued to sell additional types of insurance to customers throughout the decade, including worker's compensation insurance in 1964, surety bonds in 1966, inland-marine coverage in 1967 and a business package policy in 1969.

The brand itself expanded in the 1950s and 1960s and could be found on a variety of products like fire extinguishers and motor scooters. In 1952, an Allstate car was produced, but it was a flop; it was pulled from stores by 1953. The Allstate brand was eventually limited to insurance, tires, and car batteries by the late 1960s before becoming insurance-only in the mid-1970s. In 1991, the company went public before becoming completely independent in 1995.

In 1984, Neighborhood Office Agent program was introduced to make agents more accessible to customers

In 1985, Allstate began to move agents out of Sears stores and locate agents in neighborhood offices. In June 1993, 19.8 percent of Allstate became public through a stock offering. Allstate became completely independent in June 1995, when Sears spun off the remaining 80 percent stake in the company, distributing 350.5 million shares of Allstate stock to its stockholders.

In 1993, Allstate went public when Sears sells 19.8% of the company. At the time, it was the largest IPO to date.

In 1996, their website www.allstate.com was launched.

In 1999, Allstate unveiled a new business model that created a single contract for exclusive, independent agents selling Allstate insurance. It also created a network of call centers.

In 1999, Allstate purchased the personal lines division of CNA Financial and subsequently renamed it to Encompass Insurance Company which is written by independent insurance agents, as opposed to the direct writing that constitutes the core part of its business.

In 2003, actor Dennis Haysbert became Allstate’s spokesman, using the tagline "That’s Allstate’s stand."

In 2010 the actor Dean Winters became a part of Allstate’s campaign "Mayhem" “personifying the pitfalls, like collisions and storm damage, that can befall drivers”.

In 2012 Allstate Solutions Private Limited (also called Allstate India) was inaugurated in Bangalore which is a technology and operations centre to provides software development and business process outsourcing services to its US parent. Allstate's Bangalore operation is focused on the areas of business intelligence, analytics, testing and mobility.


Multimedia

5 May 2015
13-55854 Allstate Insurance Co. v. Ellery Chacksfield
United States Court of Appeals for the Ninth Circuit
Allstate Insurance Company appeals the district court's summary judgment in favor of Ellery Chacksfield in Allstate's diversity insurance coverage action seeking declaratory relief.
Download 13-55854 Allstate Insurance Co. v. Ellery Chacksfield - 290MB - 34:14
9 December 2015
13-17030 Allstate Insurance Co v. Obteen Nassiri
United States Court of Appeals for the Ninth Circuit
An appeal from the district court's judgment, after a jury trial, on civil RICO claims concerning fraudulent medical records for automobile accident patients.
Download 13-17030 Allstate Insurance Co v. Obteen Nassiri - 193MB - 19:01
8 February 2016
14-55275 Michael Neumann v. Allstate Insurance Co.
United States Court of Appeals for the Ninth Circuit
Michael and Katherine Neumann appeal the district court's summary judgment in favor of Allstate Insurance Company in a diversity insurance coverage action, alleging breach of contract and breach of the covenant of good faith and fair dealing.
Download 14-55275 Michael Neumann v. Allstate Insurance Co. - 244MB - 23:58
2 May 2016
14-55959 Matthew Grayson v. Allstate Ins. Co.
United States Court of Appeals for the Ninth Circuit
Matthew Grayson and Gabriel Peper appeal the district court's summary judgment in favor of Allstate Insurance Company in a diversity insurance coverage action, arising after Grayson was injured in a motor vehicle accident.
Download 14-55959 Matthew Grayson v. Allstate Ins. Co. - 313MB - 31:48
6 March 2017
16-55839 Carlos Madrigal v. Allstate Indemnity Co.
United States Court of Appeals for the Ninth Circuit
Allstate Indemnity Company appeals the district court's judgment in favor of Carlos Madrigal, Richard Tang and Anna Tang in their diversity insurance coverage action, alleging bad faith and other claims, and they also cross appeal.
Download 16-55839 Carlos Madrigal v. Allstate Indemnity Co. - 389MB - 41:58
7 March 2017
14-35628 Gary Krantz v. Allstate Property & Casualty
United States Court of Appeals for the Ninth Circuit
Gary Krantz and Brenda Russell, parents of minor son K.K., appeal the district court's amended judgment in a diversity insurance coverage action brought against their insurer, Allstate Property and Casualty Insurance Company.
Download 14-35628 Gary Krantz v. Allstate Property & Casualty - 324MB - 36:19
12 May 2017
15-56813 Emeka Ndigwe v. Allstate Indemnity Co.
United States Court of Appeals for the Ninth Circuit
Emeka Ndigwe appeals the district court's Fed. R. Civ. P. 12(b)(6) dismissal of Ndigwe's diversity insurance coverage action against Allstate Indemnity Company.
Download 15-56813 Emeka Ndigwe v. Allstate Indemnity Co. - 379MB - 41:04


Article Index

DateArticleAuthor/Source
2 October 2008Can Brain Training Games Make You A Better Driver? Allstate Insurance To Test ThemAlvaro Fernandez




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