Purpose

materiality and
stakeholder engagement

Materiality

 

Allstate issued its first corporate report addressing ESG topics in 2003. We conducted our first sustainability materiality assessment in 2015 and used those priorities to guide our strategy until we refreshed the assessment last year. The materiality assessment helps us focus on what matters most to our company and stakeholders.

In 2020, we completed our second robust materiality assessment. We incorporated components of integrated reporting and the six capitals — financial, intellectual, human, social, natural and manufactured. Our 2020 assessment followed the best practice methodology of identifying, prioritizing and validating material topics.

We interviewed internal and external stakeholders and analyzed written stakeholder sources. We continue to evaluate our material topics to ensure they reflect the priorities of Allstate and our stakeholders. In this report, we communicate our management of the following material topics:

Materiality Matrix

  • Climate Strategy & Disaster Resiliency 
  • Customer-Centric & Responsible Products 
  • Data Privacy & Information Security 
  • Employee Well-Being & Safety  
  • Inclusive Diversity 
  • Operational Footprint 
  • Organizational Culture 
  • Public Policy 
  • Responsible Investment 
  • Social Impact & Community Leadership 
  • Talent Recruitment & Management 
  • Technology & Digitalization 

Stakeholder engagement

We continually seek stakeholder input to ensure we focus 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 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, their orientation relative to or within the financial services industry and the extent to which they can impact, or be impacted by, Allstate.

We regularly engage with agents, financial specialists, customers and consumers, employees, investors, nongovernmental organizations, opinion leaders, policymakers and suppliers. For our 2020 materiality assessment, we interviewed stakeholders and analyzed stakeholder perspectives available from public documentation.

We have many other ongoing stakeholder engagement efforts. In partnership with The RepTrak Company (formerly the Reputation Institute), we collect feedback from 8,000 individuals across seven stakeholder groups, identify key topics and develop strategies to address gaps. The stakeholders are customers, consumers, investors, agents/financial specialists, employees, policymakers and opinion leaders. There are also stakeholder-specific avenues for engagement. More detail can be found throughout this report.

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