WE ARE THE GOOD HANDS
MATERIALITY & STAKEHOLDER ENGAGEMENT

STAKEHOLDER ENGAGEMENT

We continually seek stakeholder input to ensure we are focusing on what matters most.

Stakeholder inclusiveness is a core principle of Global Reporting Initiative (GRI) sustainability reports, and we do our best to identify all of Allstate’s stakeholders and respond to their expectations and interests. We regularly engage the following groups: agency owners, financial specialists, customers and consumers, employees, investors, nongovernmental organizations (NGOs), opinion leaders, policymakers and suppliers. We identify stakeholder groups through senior leaders, our sustainability council, feedback from employees and by mapping the full scope of our impacts, from suppliers to consumers. We select stakeholders according to their knowledge and understanding of our company as a whole, orientation relative to or within the financial services industry and the extent to which they can impact or be impacted by Allstate. For our 2015 sustainability materiality assessment, we engaged our stakeholders through interviews, surveys and industry research.

We have many other ongoing engagement efforts. Our annual reputation study surveys customers, consumers, investors, agency owners, employees, policymakers and opinion leaders. In partnership with the Reputation Institute, we collect feedback from 8,000 individuals across these seven stakeholder groups, identify key topics and develop strategies to address gaps. There are also stakeholder-specific avenues for engagement. We go into further detail about these within the topic sections for community, employees and suppliers.

MATERIALITY ASSESSMENT PROCESS

Our 2015 sustainability materiality assessment followed GRI guidelines. It begins with topic identification, followed by a prioritization of the resulting topics and concludes with an internal validation session.

Topic Identification

Because our industry is dynamic and rapidly evolving, Allstate is committed to refreshing our materiality assessment every few years. Our most recent assessment began with an exploration of potentially relevant topics to Allstate and our stakeholders. We collected the list of topics by compiling sector-specific and public lists provided by transparency-focused sustainability organizations, including GRI and the Sustainability Accounting Standards Board (SASB). We also reviewed peers, industry research and other publicly available resources.

Topic Prioritization

After collecting a preliminary list of sustainability topics relating to the insurance industry, we engaged our internal and external stakeholders. Then we assessed evidence of each stakeholder’s concern for a given topic. We ultimately translated this information into the matrix found here.

Topic Validation

After finalizing the critical topics identified by our stakeholders, we hosted a validation session. During this session and after multiple one-on-one conversations, the Allstate Sustainability Council reviewed the results of the prioritization, offered comments and confirmed the findings.

KEY FINDINGS FROM MATERIALITY ASSESSMENT

This assessment gave us valuable feedback about what matters most to Allstate and our stakeholders.

It resulted in the following matrix, which maps critical topics in order of their relative priority to Allstate and to external stakeholders. We monitor, manage and report on each one of these topics.

MATERIALITY MATRIX

Allstate completed a comprehensive materiality assessment in 2015, in order to identify the most critical environmental, social and governance topics for our stakeholders and our business. This matrix is the result of research, benchmarking, internal and external stakeholder engagement and validation with Allstate senior leadership.
 
Click on a topic in the matrix to learn more.

PURPLE

ORANGE

BLUE

CYAN

GREEN

PINK

Risk & Climate
In 2017, the Allstate family of customers, agency owners and employees in communities around the country felt the impact of severe weather. Although our business withstood the effects of elevated natural catastrophes, we understand the need to continue to build adaptability and resiliency to climate change into our business activities.
Internal:
Allstate business, claims, investments
External:
Agencies, customers, investors
Feedback:
Climate change has the potential to affect Allstate’s profitability due to the increasing number of weather-related catastrophic events. These events could increase the number of claims and affect the stability of Allstate’s investment portfolio. The rising number of claims could impact customer experience. Further, accurate integration of climate change into risk modeling continues to be important for the industry. Allstate has an opportunity to contribute to climate change mitigation by using the extensive climate-related data that it collects to promote sustainable policies and by expanding the number of sustainable investments the company makes through its portfolio.
Community
At Allstate, we promise to help our customers live a good life every day. That promise starts in the communities where we live, work and serve. We’re a growing network of small businesses with a team of trusted advisors across the country. Our employees, agency owners and agency staff strive to make communities stronger, lives safer and futures brighter, by giving our time and resources to support causes and organizations. Caring and innovation are woven into the fabric of our Allstate story. We are here to serve.
Internal:
Allstate business
External:
Agencies, communities, customers, NGOs
Feedback:
While reputation is important to any company, it is particularly important to Allstate since the company promises to be there during some of the most trying times of customers’ lives. Because Allstate believes in being a force for good in its communities, the company is better positioned to achieve its social impact goals and substantially improve trust with stakeholders — driving shared value.
Agency Engagement
At Allstate, we promise to help our customers live a good life every day. That promise starts in the communities where we live, work and serve. We’re a growing network of small businesses with a team of trusted advisors across the country. Our employees, agency owners and agency staff strive to make communities stronger, lives safer and futures brighter, by giving our time and resources to support causes and organizations. Caring and innovation are woven into the fabric of our Allstate story. We are here to serve.
Internal:
Allstate business
External:
Agencies, communities
Privacy &
Information
Security
In today’s world of hyperconnectivity and big data, customer privacy and data security have been thrust into the collective conscience. We recognize how the quality of Allstate’s security program impacts our reputation and customers’ trust in us. We sell a promise to help customers live a good life even in times of uncertainty, which includes protecting their information. By carefully and responsibly handling their data, we can advance our reputation among consumers, driving strong business relationships and creating shared value.
Internal:
Allstate business
External:
Agencies, customers, suppliers
Feedback:
Privacy and information security are linked to Allstate’s reputation and commitment to ethics and integrity. Allstate should continue to train employees on data security and privacy practices; to promote flexible, risk-based legislation and serve as a leader in its approach to cybersecurity for stakeholders.
Ethics & Integrity
Integrity is central to our business, and we’re proud of our reputation as one of the World’s Most Ethical Companies®; Ethisphere has recognized Allstate each of the last four years for high ethical standards in our business practices and values-based leadership. We have built this legacy on the sturdy foundation of our core values: integrity, honesty, caring, inclusive diversity, engagement, superior performance and accountability.
Internal:
Claims, employees
External:
Agencies, investors
Public Policy
Allstate is actively involved in public policy advocacy at the state and federal levels. Extensive state-based regulation of insurance, the importance of a fair court system to our customers, and the priority we place on personal safety and property protection combine to compel Allstate to seek to shape sound public policy. By participating in the development of good public policy and offering ideas and resources in this arena, we help our customers protect themselves from life’s uncertainties and prepare for the future.
Internal:
Allstate business
External:
Investors, regulators
Energy, Emissions & Waste
Today, stakeholders expect companies to cut their energy use and reduce waste on an ongoing basis. Beyond that, insurers like Allstate face extensive risk from climate change, which has produced more extreme weather events. As a socially and environmentally responsible company, Allstate believes reducing its environmental footprint is in its own best interest as well as that of the world at large.
Internal:
Building operations
External:
The environment
Financial Inclusion
Allstate’s efforts to promote financial inclusion lie at the intersection of business and social value — generating positive feedback and helping society. We challenge ourselves to create innovative products and services to meet our customers’ needs and outperform the competition. Financial inclusion is an important issue for companies providing financial services; legal and reputational considerations are an important part of our management of this material topic.
External:
Communities
Sustainable Procurement
The magnitude of our global purchasing activity means our procurement practices have far-ranging effects. This offers Allstate the opportunity to positively influence the businesses from which we source products and services. By understanding how suppliers are managing factors such as emissions, waste, regulatory compliance and cybersecurity, we can better articulate Allstate’s expectations. By actively managing these risks, we enhance our reputation and align procurement decisions with environmental and social responsibility, which increases the confidence of stakeholders who depend on Allstate’s performance.
Internal:
Allstate business
External:
Suppliers
Claims & Product Innovation
Innovation is critical to ensuring that our business successfully maneuvers the rapid global advances in business and information technology. By continuing to drive toward new product offerings and higher service efficiency, we maintain the trust of our valued customers and fulfill our promise to help them through life’s uncertainties.
Internal:
Allstate business
External:
Agencies, customers, investors
Responsible Investment
Allstate’s investment decisions represent a critical part of our corporate responsibility footprint, affecting employees, customers and investors. We provide the best value to our shareholders by taking a competitive and holistic approach with our $83 billion investment portfolio. As responsible stewards of this portfolio, Allstate understands environmental, social and corporate governance issues can influence investment performance. Allstate’s analysis and decision-making process considers these issues along with Allstate’s values.
Internal:
Investments
External:
Communities, the environment, investors
Employee Health & Safety
Allstaters are the heart of our business, and as part of our ongoing mission to be an employer of choice, we take seriously our responsibility to ensure their well-being, devoting resources to employee health and safety. We offer healthy environments and an array of benefits and programs to help support Allstaters’ physical health, financial security and work-life integration. Allstate also has robust safety practices, training and tools to prevent injuries.
Internal:
Employees
Governance
We bring out the good by cultivating exceptional corporate governance through our long-standing commitment to exemplary ethics, integrity and transparency. Allstate’s three cornerstones of corporate governance — dialogue, transparency and responsiveness — drive Allstate’s success, define our expectations for employees and inform the actions of our Board of Directors.
Internal:
Allstate business
External:
Agencies, investors
Workforce & Inclusive Diversity
Allstate’s business strategy, culture and ability to achieve its goals depend on our people. Their skill, dedication and care define Allstate and bring out the good for our customers. We develop each other, looking for ways to challenge ourselves and coach others, so all employees can reach their potential. Because Allstate is a large employer, we understand employee engagement has a significant influence on our communities and economies. We take this responsibility seriously and want the legacy of our dynamic workforce to continue.
Internal:
Employees
Feedback:
Finding innovative ways to overcome the shortage of science, technology, engineering and math (STEM) professionals and adapt to an increasingly diverse world is vital to the future of Allstate’s workforce. Generational differences also present new challenges; Allstate has an opportunity to further align corporate activity and messaging with the importance millennials place on corporate responsibility. Allstate should continue to emphasize retention by promoting professional development and engagement opportunities. It is important for the company to also provide agency owners and financial specialists with the support they need to maintain a healthy talent pipeline.
Learn More
Risk & Climate
Community
Agency Engagement
Privacy &
Information
Security
Ethics & Integrity
Public Policy
Energy, Emissions & Waste
Financial Inclusion
Sustainable Procurement
Claims & Product Innovation
Responsible Investment
Employee Health & Safety
Governance
Workforce & Inclusive Diversity
Important
SIGNIFICANCE TO ALLSTATE
Critical
Important
SIGNIFICANCE TO STAKEHOLDERS
Critical

ALLSTATE’S VALUE CHAIN

The value chain map illustrates the full scope of Allstate’s impacts and operations, as well as all potential stakeholder groups.

Highlight Stories
With 83,000 employees and agency force members, Allstate stories of good are happening in offices and communities around the country every day. We are thrilled to be able to share some examples of the good work and passion of the Allstate family with our stakeholders.
View All Stories
Allstate’s Zero Waste Zone
The Perspectives Charter Schools and Allstate Partnership
Allstate’s Florence Response
Privacy Awareness Campaign