Allstate home went into business in April 1931 after its founders had the idea of starting an auto insurance company and sell insurance by direct mail and through the Sears catalog. Based in Northbrook, Illinois, the company has been serving Americans in the insurance industry for over 80 years and is now the second-largest insurance company by premiums in the United States. Allstate is known for its slogan “You’re in Good Hands with Allstate.”
Throughout the years, Allstate has had to reinvent itself to adapt to difficult times such as the Depression and World War II. During the 10 years following World War II, the company started growing at an incredible pace, doubling its size every two years, and even becoming an international company when it opened its first office in Canada in 1953. During the next 30 years, Allstate started expanding its products and reaching new areas with the help of independent agents. It no longer offered only auto insurance, but other options such as personal liability, commercial liability, home, life, and health insurance. What started back in 1931 started with a small office of 20 employees in Chicago back in 1931 is now a corporation of more than 51,400 employees.
Nowadays, Allstate offers a wide range of insurance options which are divided into five segments:
- Asset protection: auto and homeowner insurance, renter insurance, residential fire, boats, commercial package policies, and emergency roadside assistance.
- Family life protection: life, long-term care, and disability insurance.
- Short-term financial objectives: banking products such as checking, savings, and mortgages, as well as certificates of deposit and money market accounts.
- Asset management and accumulation: fixed and variable life insurance and annuities, mutual funds, and individual retirement accounts.
- Wealth transfer: life insurance and trust funds.
In Texas, Allstate has been recently expanding its operations and facilities. In 2019, it increased its headcount in its facility located in Irving by creating more than 1300 job opportunities and increasing its capital investment. But Allstate has not only supported Texas with economic growth but also with assisting local communities. In February 2021, the Allstate Foundation provided financial support to nonprofits assisting underserved populations that were hit by the weather. Also, during this period of heavy weather damage, the company deployed six Mobile Claim Centers with incorporated COVID-19 safety measures and advanced technology equipment to help expedite claims processes from customers to help them rebuild their lives as soon as possible.