The second aspect is related to Allstate Insurance Companys efforts in

The second aspect is related to allstate insurance

This preview shows page 36 - 38 out of 57 pages.

positioned as the core value and the key principle of the corporation. The second aspect is related to Allstate Insurance Company’s efforts in developing effective instruments of communicating this slogan and the message which to the customers. Without effective marketing research and gradual changes in marketing strategies, brand recognition and brand value of the Allstate Insurance Corporation would not have represented a strength. Substantial total assets. A common perception is that the insurance industry is one that does not involve as much risk as other industries in the United States. The world economic crisis has shown stakeholders that an unexpected catastrophic event is always a risk that has to be respected. A strength of the Allstate Insurance Corporation is the substantial total assets that the organization has accumulated. This incredible amount of total assets is after the world economic crisis had significantly reduced revenues of all the American insurance companies. As it turns
Image of page 36

Subscribe to view the full document.

ALLSTATE INSURANCE CORPORATION CASE ANALYSIS 36 out, the total assets of the firm offered a margin of safety that allowed the firm to weather the storm and take action to recover as soon as possible. Due to its long and successful history, the Allstate Insurance Corporation now has $106.5 billion total assets. As a result, the company is able to be agile, implementing change projects to improve various business processes that comprise the operation. An organization with less financial resources would likely struggle to make changes due the resources that are put at risk. In contrast, Allstate Insurance Corporation is able to absorb a higher level of risk in the pursuit of operational excellence. The willingness to accept risk in the pursuit of operational excellence is evidenced by the strategic direction of moving towards the cloud-centric business model in order to keep up with the advancements in technology and gain the efficiencies of its competitors. Customer focus. The principle of customer focus is a key differentiating factor of the marketing campaign of the Allstate Insurance Corporation. The slogan and marketing of the firm is representative of the dedication to customer focus. Additionally, the branding is articulated in the mission and purpose statements, key values and operating principles stated by the organization. All the advertisement campaigns which have been developed by the company deliver the message to clients that customer focus as the main distinctive feature of being a customer of the company. The perception that is created by the marketing campaigns justifies the additional costs that customers are willing to pay for insurance. Existing sales channels. As previously stated Allstate Insurance Corporation operates with a network which consists of 10,000 agencies and 23,200 licensed sales professionals across the United States. The existence of a developed sales channel is an important strength of the company. It allows maintaining stable profits even if the company’s products are less desirable by customer than the products and services of some competitors because of easy access. These
Image of page 37
Image of page 38
  • Fall '18
  • Notgrass

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes