ipl-logo

Case Study: Allstate

742 Words3 Pages

Allstate The Allstate Corporation is the second largest personal insurance providers in the United States and the largest that is publicly held. Allstate was founded in April, 1931 as a subsidiary of Sears, Roebuck and Co., and was spun off in 1993. Product: Allstate provides its services in the sector of Insurance. It started its journey with the idea of selling auto insurance by direct mail in 1931. By 1941, only one-fourth of the auto owner used to have insurance. But to take the financial responsibility of the mishaps which might occur because of the incidents, a law was passed in 1950s. Throughout 1950s, AllState introduced new products like fire insurance, homeowners and life insurance. Gradually, AllState kept on introducing new products like worker 's compensation insurance and surety bonds. Currently, AllState provides three major products: Insurance Products (Asset Protection) Wealth transfer Financial Products Auto Insurance Estate Planning Products Asset Management Homeowners Insurance Business Succession Planning Products Accumulation Condominium Fixed Survivorship Life Life Insurance Renters Variable Survivorship Life Family Protection Insurance Retirement Scheduled Personal Property Term Life Business Umbrella Universal Life Commercial Auto Variable …show more content…

This approach uses the mathematical models to analyse the variation in customer behavior for buying a particular service or product with varying prices. Price optimization includes analyzing competitive management, customer elasticity models and other optimization techniques. This approach is generally used to provide its customers a tailored pricing for different needs and demands of the customers. This strategy helps AllState to come up with new and different price mixes as per the dynamic market and customer needs. This approach helped AllState to retain their loyal customers by providing them services at customized

Show More
Related

  • Morningside LLC Case Study

    270 Words  | 2 Pages

    Not much is revealed about Lewis' background prior to working for Morningside LLC. In the 90's he got a job at LLC working as a building manager for Frank and Sam Morris. Sam Morris eventually hired him set solve problems for him by setting fires in certain buildings. These buildings were either were torched for one of two reasons. One reason was the buildings were owned by Sam and he wanted to get rid a problem (rent strikes, illegal tenants, drug dealers).

    Read More

  • How Did The Knights Of Columbus Create A Community

    2030 Words  | 9 Pages

    They also employ many of their existing members to help sell such insurance. This struck me because

    Read More

  • How Nordstrom Microeconomic Factors Affect A Business

    971 Words  | 4 Pages

    Nordstrom may experience price elasticity as a risk since it is a challenge for the company to forecast customers behavior to price changes that can affect the retail’s goods of sale. Therefore, it is important to

    Read More

  • Case Study: Dollar General

    760 Words  | 4 Pages

    1. In the broader context (not specific to Dollar General), what is KKR’s investment strategy? What are the challenges KKR will encounter to make its investment in Dollar General successful? How could KKR add value to Dollar General?

    Read More

  • Case Study Dynacorp

    1336 Words  | 6 Pages

    Introduction A company’s success is measured by how well it is structured and organized in order to adapt to the changes in environment as well as the changes within itself such as the company’s scale, employees, product scope, etc. Having a suitable, well-structured organizational frame will not only increase the chance of being success but also prolong the company’s lifespan compared to an un-structured one. It is important to note that an organization’s structure needs to fit in with the current situation and does not necessarily required remain unchanged over time. Taking Dynacorp as an example, even though its functional structure contributed to the vast growth of the company at the start, its limitation in dealing with the changes within

    Read More

  • Case Study Wells Fargo

    476 Words  | 2 Pages

    Wells Fargo’s “Gutless Leadership” Wells Fargo is one of the largest banks in the United States, with “…more than 8,600 locations [and] 13,000 ATMs” (Wells Fargo Today). Millions of Americans trust them with their finances. However, after a federal investigation, Wells Fargo has admitted to opening up to two million accounts without customers’ permission. While this had financial implications for many customers, this scandal most heavily affected Wells Fargo’s low-level employees.

    Read More

  • Persuasive Essay On Health Care

    955 Words  | 4 Pages

    Insurance companies are making a huge amount of profit. The profit that these

    Read More

  • Progressive Insurance Marketing Plan

    1124 Words  | 5 Pages

    Progressive Auto Insurance Login The Progressive Corporation is one of the largest providers of car insurance in the United States. The company also insures motorcycles, boats, RVs and commercial vehicles, and provides home insurance through select companies. Progressive has expanded internationally as well, offering car insurance in Australia. The company was co-founded in 1937 by Jack Green and Joseph M. Lewis, and is headquartered in Mayfield Village, Ohio. See below for Progressive Auto Insurance Login.

    Read More

  • Case Study: Target Corporation

    882 Words  | 4 Pages

    Process and tools Target Corporation uses tolls and process for product safety and quality assurance. The company assesses a program for risk –based product safety and quality at every stage in the product life cycle, from development through the life of brand product. Target global team implement a program across 36 countries and 2228 factories producing target product, during the process will require independent third-party testing to validate safety and quality before the guests purchase product. the vendor in the company are expected to employ best practices, including clearly defined and well-documented manufacturing and quality processes including staff training , and record keeping. What does the TC required to do the job?

    Read More

  • Pricing Strategy And The Pricing Strategy: Dyson

    1009 Words  | 5 Pages

    4.4 Pricing Strategy For a number of reasons, price is one of the most important aspects of an effective marketing strategy (Gerstein & Friedman, 2015). First, price is the only marketing variable that generates revenue. Second, buyers see price as an attribute of value (Tanner & Raymond, n.d.). Consequently, an organization must carefully assess its internal and external environment to choose the most effective pricing objective, which—in turn—will drive a product’s initial pricing strategy.

    Read More

  • Are Manufacturers Doing Enough To Brace Themselves For The Digital Disruption?

    600 Words  | 3 Pages

    Traditional insurers for long have neglected this aspect that has left the consumers wanting. Technology led start-ups are focusing on enhancing the customer experience. Internet based insurance agencies like CoverHound are offering personalized and transparent insurance solutions. There are others like comparenow that simplify insurance shopping by serving as a one stop shop for all insurance needs. Then there is the digital powerhouse Google which has launched an auto insurance shopping site in the U.S. in addition to getting itself licensed to sell

    Read More

  • Case Study: Supermax Corporation Berhad

    974 Words  | 4 Pages

    SUPERMAX Corporation Berhad should be aware of their cultural differences in the workplace. Since there have a lot of different race in Malaysia and also most of the workers are from the different background so it can easily cause communication barrier happen between all the workers within the workplace. SUPERMAX should treat this issue seriously and handle it properly in order to avoid misunderstanding and tension between employees. It is vitally significant that there is a good relationship between all the employees and also the superior because it can affect the company’s productivity and efficiency. SUPERMAX should have cultural sensitivity in order to create a harmonious atmosphere in the workplace at the same time it can improve the performance of the company.

    Read More

  • Value Proposition Of Fitbit

    1808 Words  | 8 Pages

    The pricing strategy or pricing policy is one of the most important managers make for a product as it affects the profitable outcome and competitiveness that a product may make. (Toni, 2017). A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the market overall. It can also be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market by dropping the price or offering more benefits with the device such as packages.

    Read More

  • Insurance: My Summer With Traveler Insurance

    1040 Words  | 5 Pages

    The insurance industry is about managing risk and protecting you from the unknown. As years have gone insurance policies and companies have changed drastically. Everyone in the United States is required to have insurance. People need car insurance, homeowner insurance, health insurance, and many others depending on their needs. Insurance changes rapidly.

    Read More

  • Marketing: Marketing Mix In The Ice Cream Industry

    1497 Words  | 6 Pages

    6.1.2 Price Price is the value or amount that customer pays to buy a product. For instance, for our Star Lab ice cream shop, we need to consider the cost of production of our ice cream, price of our main competitor and our potential customers demographics in order to succeed this competitive market. (C. Breidert, 2007, p.9) 6.1.2.1 Pricing Strategy Pricing strategy that can be used by our company such as penetration pricing, cost-plus pricing, value based pricing and more. But we think that market penetration pricing is the best pricing strategy to be used by our business.

    Read More

More about Case Study: Allstate

Open Document