Illinois-based American insurance company, Allstate corporation is a publicly traded company and one of the biggest names in the American insurance industry. The company is traded freely on the stock exchange, with its shares free to be purchased by anyone. The company is traded on NYSE as ALL. Allstate corporation was established on April 17, 1931. The company was originally a part of Sears, Roebuck, and Co., popularly called Sears, an American chain of department stores. Allstate went independent of Sears in 1993. Allstate Corporation has an annual revenue of $39.8 billion, making it one of the biggest life insurance companies in the United States. The company in 2019 ranked 79 in the Fortune 500 list of biggest companies in the United States by revenue. Here, we’ll discuss ‘Is Allstate a good company to work for?’
History
Allstate Insurance company was started as a part of Sears. It was named after the department store company’s tire brand “Allstate”. The company came into being in 1931 as a car and automobile insurance. The company operated via direct mail. The first sales office of the company opened in Chicago in 1933. The office was in one of the Sears stores in Chicago. By 1949, the headquarters of Allstate Corporation was built and opened in Chicago, Illinois in the Sears, Roebuck, and Co.’s complex. The company’s slogan “You’re in good hands with Allstate” was coined in 1950. Their recent slogan “Are you in good hands?”, has been in use by the company since 2004.
Acquisitions
Allstate has been a part of several corporate acquisitions. The company which was originally a private type company went public in 1993 along with becoming independent of Sears in the same year. The company launched its official website in 1996 and launched a completely refurbished business model in 1999. The company established several call centers for customer services and also drew single contracts for the company’s sales agents.
The company procured CNA financial in 1999 renaming it Encompass Insurance Company, a subsidiary of Allstate Corporation.
- In 2011, Allstate, for about 1 billion US$, purchased Esurance and Answer Financial.
- In 2017, SquareTrade was acquired by Allstate. The cost of this acquisition was about $1.4 billion.
- In 2020, it was announced that Allstate has been looking forward to buying National General Insurance for $ 4 billion
Subsidiaries
Allstate Corporation has acquired and established several subsidiaries. Some of these are:
- Encompass Insurance Company
- Esurance
- SquareTrade
- Allstate Identity Protection
- National General Insurance
- Allstate India
- Allstate Northern Ireland.
- Encompass Insurance Company is among the largest property insurance companies in the United States. The company is a subsidiary of Allstate corporation since its acquisition in 1999. Based in Illinois the company has over 6500 agent locations across the US.
- Esurance is the subsidiary of Allstate corporation that sells home and automobile insurance. The sales through this subsidiary are made directly to the customers online or via phone. Esurance is based in San Francisco, California. The company was founded in 1999, but acquired by Allstate in 2011.
- SquareTrade is a warranty service provided to customers on the purchase of electronics and appliances. The company is based in San Francisco and is a subsidiary of Allstate Corporation.
- National General Insurance is a North Carolina-based property insurance that was acquired by Allstate Corporation in 2020 as a subsidiary. The company has been a leader in property insurance since 1920.
Career Opportunities at Allstate
As one of the leading companies in the Insurance industry, Allstate has about 40,000 employees in the United States. The company has both part-time and full-time job opportunities. The company values patience, persistence, and passion in their employees along with regularity which is most important to the company. Allstate has several job positions that applicants can choose to apply for. These include Team Leader, Sales Instructor, Support Center Manager, Auditor, IT specialist, Research associate, marketing Coordinator, etc.
Job seekers have the opportunity to choose from a variety of job positions for the one that suits their skills the best. The applicants most frequently choose the corporate office jobs and the jobs at the call centers.
The applicants must meet the following requirements to be hired as an employee at Allstate.
- Must at least be 18 years old or over.
- Have previous work experience in corporate positions.
- Work experience is not necessary for the jobs in the customer service department of the company.
- Applicants must all be high school graduates.
- For higher and corporate posts, college degrees and higher education may be required.
Jobs and Salaries
Allstate offers applicants job positions at entry-level as well as professional careers in the corporate. the positions include those of branch management, marketing, human resource management, IT specialists, legal, and underwriting.
- Customer Services: The responsibilities of jobs under this category are associating with the customers and resolving their issues. The job is call center-based and is an entry-level position for the applicants to apply at. The employees at this position make sales via phone, receive calls from customers, and solve their issues. The job hours are divided into morning, afternoon, and evening shifts. The employees at this position are usually full-time employees. The employees receive formal work training as soon as they are hired. The employees are paid for the training period as well. The annual salary of a customer service employee at Allstate is about $25,000. The employees are expected to be polite, courteous, and confident. They must be detail-oriented and capable to work in a fast-paced work environment.
- Field Sales Associates: To apply for the position of field associate, an applicant must have work experience of about 3 to 4 years in the field. Employees at this position are expected to be engaging and extroverted with amiable personalities. This is a full-time job position that expects the employees to work about 40 hours a week. The individuals that are good at working in a fast-paced work atmosphere are best suited for the job field sales associate.
Is Allstate a good workplace?
Allstate has been frequently chosen by its employees, as one of the best companies to work for in the United States. According to the popular opinion on websites like indeed.com and glassdoor.com, Allstate is among the best workplaces in America, looking after their employees the same way they care for their customers.
Allstate Corporation is reviewed on these popular websites to have an “awesome work culture”. The company has friendly managers that are eager to help and guide their subordinates. The company also provides the employees with amazing benefits along with transportation services, good office infrastructure, and a healthy environment where the employees can work on their personal growth while also benefiting the company with their performance.
Employee Benefits
The employee benefits provide at Allstate make it one of the most loved workplaces in the United States. These include:
- Education Aid
- Flexible Schedule
- Financial planning and stock options
- Paid time off
- Paid training and development programs
- Life and health insurance
- Legal Coverage
- Retirement Plans (401k)
- Extended health care to cover the families of the employees.
FAQs
- What is Allstate’s minimum hiring age?
Allstate employees must at least be 18 years old. - How much does an Allstate agent make?
Allstate agent makes around $38,000 per year. - Does Allstate background check its employees?
Yes. Allstate runs a background check on its employees to make sure that the employees are clean of drugs and criminal records.
