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Allstate Corporate Headquarters Address, CEO Email Address, and Corporate Office Info
The Allstate Corporation serves as the holding company for Allstate Insurance Company, the United States’ second largest property and liability insurer by premiums. Allstate is the second largest provider of home and vehicle insurance in the United States, trailing only State Farm Insurance Companies. Additionally, Allstate Life Insurance Company offers life, annuity, and pension policies, while its Business Insurance division offers a variety of coverage options for small and medium-sized enterprises. In the United States and Canada, Allstate serves its 20 million customers through a network of 15,200 full-time “captive” agents and thousands of independent agents. Personal property and casualty insurance generate more than three-quarters of Allstate’s revenue, while Life Operations generates 15%. In June 1993, Sears, Roebuck and Co. sold roughly 20% of Allstate stock in the largest initial public offering in United States history, establishing Allstate as the nation’s largest publicly held personal property and casualty insurance company. Allstate’s remaining 80% became publicly owned in 1995, when Sears split out the remainder of the firm to its shareholders.
Allstate was born during a bridge game on a commuter train in 1930, when insurance broker Carl L. Odell offered the concept of selling auto insurance via direct mail to his neighbour, Sears, Roebuck and Co. president and CEO Robert E. Wood. Odell claimed that selling insurance by mail may significantly lower expenses by obviating the need for salespeople commissions. The concept interested Wood, and he presented it to the Sears board of directors, who was equally intrigued by the concept. Allstate Insurance Company, named after a Sears-marketed automotive tyre, began operations in April 1931, offering auto insurance through direct mail and the Sears catalogue. Allstate’s first chairman of the board was Lessing J. Rosenwald, and Odell was designated vice president and secretary.
The company’s early success validated Odell and Wood’s cost-cutting strategy. Allstate earned $118,323 in premiums on 4,217 policies in 1931, with a team of 20 people stationed at Sears headquarters in Chicago. Although the company lost money on underwriting in its first two years, by 1933 it had made $93,000 on 22,000 active insurance. That year, an Allstate representative completed the first sale from a Sears booth at the Chicago World’s Fair.
Allstate built its first permanent sales office at a Chicago Sears store in 1934, signalling the start of the company’s transition away from direct mail and toward agents as its primary sales channel. The corporation was able to contain expenses through the utilisation of Sears stores, even with the extra expenditure of agent commissions. Allstate’s development continued to be sluggish but steady for the remainder of the Depression. By 1936, the premium volume of the corporation had increased to $1.8 million. By 1941, premium revenue had more than tripled to $6.8 million from over 189,000 policies in force. James Barker was appointed chairman of Allstate’s board of directors in 1943.
Allstate’s expansion was substantially hindered by the United States’ participation in World War II, as automotive manufacturing and usage were severely restricted. However, new legislation paved the door for the company to experience an explosive period of growth following the war’s conclusion. In 1941, when only about a fourth of American drivers had auto liability insurance, New York approved a statute defining drivers’ financial responsibility for damage or injuries caused by auto accidents. New York’s statute sparked a wave of state legislation, and by the mid-1950s, nearly every state had enacted some form of financial responsibility legislation.
Allstate Corporate Headquarters Address and Phone Number
The company is based in Northfield Township, IL. Do you have anything to share with the corporate headquarters? If yes, please take a note of the headquarters address of name Inc. below:
Allstate Corporate Headquarters Address
2775 Sanders Road Suite A3 Northbrook
IL 60062 United States.
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Allstate Contact Details
Allstate Headquarters Contact Details: NA
Allstate Headquarters Address: 2775 Sanders Road Suite A3 Northbrook, IL 60062 United States.
Allstate Headquarters Phone Number: 1-847-402-5000
Allstate Headquarters Whatsapp Number: NA
Allstate Headquarters Office Email ID: firstname.lastname@example.org.
Allstate Social Profiles
Allstate Headquarters Facebook Fan Page: https://www.facebook.com/Allstate
Allstate Headquarters Twitter Handle: https://twitter.com/Allstate
Allstate Headquarters Instagram Profile: https://www.instagram.com/allstate/?hl=en
Allstate Headquarters Snapchat Profile: NA
Allstate Headquarters YouTube Channel: https://www.youtube.com/ALLSTATE