Governance

Our Shared Purpose

The words we live by

As the Good Hands… We empower customers with protection to help them achieve their hopes and dreams. We provide affordable, simple and connected protection solutions. We create opportunity for our team, economic value for our shareholders and improve communities.

Overview

Our values

  • Integrity is non-negotiable.
  • Inclusive Diversity & Equity values and leverages unique identities with equitable opportunity and rewards.
  • Collective Success is achieved through empathy and prioritizing enterprise outcomes ahead of individuals.

Our operating standards

  • Focus on Customers by anticipating and exceeding service expectations at low costs.
  • Be the Best at protecting customers, developing talent and running our businesses.
  • Be Bold with original ideas using speed and conviction to beat the competition.
  • Earn Attractive Returns by providing customer value, proactively accepting risk and using analytics.

Our behaviors

  • Collaborate early and often to develop and implement comprehensive solutions and share learnings.
  • Challenge Ideas to leverage collective expertise, evaluate multiple alternatives and create the best path forward.
  • Provide Clarity for expected outcomes, decision authority and accountability.
  • Provide Feedback that is candid, actionable, independent of hierarchy and safe.

The story of Our Shared Purpose

The story of Our Shared Purpose began 15 years ago, when Tom Wilson became CEO with the goal of making Allstate more customer focused and faster moving. A dozen senior leaders of the corporation went through what became the Energy for Life program to articulate their personal purpose and build plans to achieve it. In 2007, Allstate created a similar plan, and Our Shared Vision became the company’s new story.

Over time, the renamed Our Shared Purpose was embedded in our culture and actions. It drove innovations like Your Choice Auto and telematics. Our values of integrity, inclusive diversity, engagement, accountability and superior performance created the right kind of success. In 2014, we added a section on leadership. Allstaters are expected to lead from every seat.

We updated Our Shared Purpose in 2021 to guide the culture change needed for Transformative Growth. Our Shared Purpose outlines Allstate’s values, operating standards and behaviors, including providing employees equitable opportunity, meaningful work, competitive compensation and personal growth. These updates will further advance Allstate’s culture by highlighting the values of integrity, inclusive diversity and equity and collective success.

We enhanced Our Shared Purpose to focus on four behaviors to support cultural change: collaborate, challenge ideas, provide clarity and provide feedback. We have invested in training our leaders on those behaviors and will tie 50% of our employees’ performance ratings to those behaviors. We also assessed the capabilities of 4,000 leaders resulting in individualized development plans.

Transformative Growth is a multi-year initiative to increase personal property-liability market share by building a low-cost digital insurer with broad distribution. We’ll achieve this by improving customer value, expanding customer access, increasing customer acquisition sophistication, modernizing the technology ecosystem and enhancing organizational capabilities. Learn more in our 2022 Proxy Statement and 2021 Form 10-K.

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