Explanation of the material topic and its boundary
GRI Content IndexThe management approach and its components
GRI Content IndexEvaluation of the management approach
GRI Content IndexFinancial Literacy Curriculum
The Allstate Foundation Purple Purse Moving Ahead Curriculum offers a range of information from basic money and financial management principles to advanced long-term financial planning.
Allstate addresses financial inclusion through our work with survivors of domestic violence. Many survivors don’t have the financial literacy or the assets to escape their circumstances. As part of our Purple Purse program, we offer the Moving Ahead financial literacy curriculum free of charge to survivors and their advocates. When we give survivors tools and access to a healthy financial life, we empower them to participate in the economy.
A study by Rutgers University in 2014 found that the Allstate Foundation Purple Purse Moving Ahead curriculum helped survivors become more independent and feel safer, more hopeful and less financially strained. The study involved 457 survivors, selected based on their use of the Moving Ahead curriculum. Participants reported less hardship, less financial strain and a 10% increase in quality of life ratings.
Offering Competitive Prices
Advancements in data collection, computing power and technology have enhanced our ability to refine pricing models to ensure we have competitive prices. Allstate agency owners and staff build personal relationships with each customer. They look to offer the best insurance solutions at the right price for each customer, balancing risks and costs. For auto insurance, we use information such as driving records, location and vehicle type to provide customers with accurate and competitive prices. We base our homeowners insurance pricing on external factors such as the historical weather patterns for the area, the cost of labor and building materials, how old the home is, and homeowner policy preferences such as deductible amount size.
Allstate offers several ways to reduce customers’ premiums, including discounts for insuring both their car and home with Allstate, safe driving, and using Drivewise to monitor safe driving practices. They also receive credit for installing safety features like smoke detectors and home security devices.