Allstate to say goodbye to major brand

Allstate | December 20, 2019

Allstate to say goodbye to major brand
The Allstate Corporation has announced the launch of a “Transformative Growth Plan” to accelerate growth in its personal property-liability business. The company plans to expand costumer access, improve customer value propositions and increase its investment in growth and technology. “Allstate has thrived for 88 years through innovation such as the use of local branded agencies, telematics pricing for auto insurance and settling auto insurance claims with digital photos,” said Tom Wilson, chair, president and CEO of Allstate. “This plan builds on a history of creating change and will improve our competitive position and accelerate growth.

Spotlight

The insurance industry has changed dramatically over the past decade in response to increasingly stringent regulations, changing consumer preferences and falling interest rates. As the industry has been evolving, so has insurance third-party administration (TPA) and business process outsourcing (BPO). Insurance TPA/BPO pricing has gone down significantly due to rupee devaluation and robotic process automation (RPA), and insurance outsourcing contracts have become more favorable to insurance companies due to a more mature outsourcing provider market. Now is a compelling time for insurance companies to benchmark and renegotiate their existing TPA/BPO contracts.

Spotlight

The insurance industry has changed dramatically over the past decade in response to increasingly stringent regulations, changing consumer preferences and falling interest rates. As the industry has been evolving, so has insurance third-party administration (TPA) and business process outsourcing (BPO). Insurance TPA/BPO pricing has gone down significantly due to rupee devaluation and robotic process automation (RPA), and insurance outsourcing contracts have become more favorable to insurance companies due to a more mature outsourcing provider market. Now is a compelling time for insurance companies to benchmark and renegotiate their existing TPA/BPO contracts.

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