Allstate Insurance Company Essay Example | Topics and Well Written Essays - 500 words

Allstate Insurance Company - Essay Example At the time, the initial public offering of Allstate was the largest in U.S. history. On June 30, 1995, it became a totally independent company after Sears divested its remaining shares to Sears stockholders. For more than 75 years, Allstate leaders, employees and agency owners have been passionate about leading positive change in this country. Serving as a consumer advocate - and an advocate for the American economy - is an integral part of Allstate's heritage. In the 1930s, Allstate was one of the first companies to create a sophisticated rate classification system, giving better rates to safe drivers; in the 1950s Allstate opened its first drive-in claim office, revolutionizing the way automobile claims are handled; in the 1960s the company helped convince the government to make seat belt use mandatory; in the 1970s and 1980s Allstate played an instrumental role in advocating the safety benefits of air bags; and in the 1990s and 2000s Allstate has continued to take a public stand on issues that are important to consumers. In 2007, Allstate reported $17.7 billion in total property-liability insurance claims and claims expense. The Allstate Foundation donated nearly $20.1 million to nonprofit organizations including $400,000 in scholarships. The Allstate Corporation, its employees and agents donated nearly $6.1 million through the Giving Campaign to nonprofit organizations.