PROJECT TITLE

“Exploring Customer Relationship Management Practices at

Allstate Insurance
SUBMITTED TO

CENTRE FOR ONLINE LEARNING

DR. D. Y. PATIL VIDYAPEETH, PUNE

SUBMITTED BY

Ms. Josephine Suse

 INTRODUCTION TO TOPIC

 The Allstate Corporation is an American insurance company, headquartered in

Glenview, Illinois (with a Northbrook, Illinois address) since 2022.[4] Founded in
1931 as part of Sears, Roebuck and Co., it was spun off in 1993, but was still
partially owned by Sears until it became an independent company completely in
June 1995.[3] The company also has personal lines insurance operations in Canada.
 SCOPE OF THE STUDY

  Develop a CRM framework

  Align current business processes

  Design new cross-functional business processes (where required)

  Develop Functional Specifications (client-side services)

  Develop Technical Specifications

  Match Technical Specifications to available technology (Systems, software, etc)

  Product Configuration

  Data Migration and Integration

 OBLECTIVES OF THE STUDY
 Provide product information, product use information, and technical assistance
on web sites that are accessible 24 hours a day, 7 days a week
 Identify how each individual customer defines quality, and then design a service strategy
for each customer based on these individual requirements and expectations.
 Provide a fast mechanism for managing and scheduling follow-up sales calls to assess
post-purchase cognitive dissonance, repurchase probabilities, repurchase times, and
repurchase frequencies.
 Provide a mechanism to track all points of contact between a customer and the company,
and do it in an integrated way so that all sources and types of contact are included, and
all users of the system see the same view of the customer (reduces confusion).
 Help to identify potential problems quickly, before customer occur
Customer Relationship Management Model

CREATE A DATA BASE

ANALYSIS

CUSTOMER SELECTION

CUSTOMER TARGETING

RELATIONSHIP MARKETING

PRIVACY ISSUES

METRICS
 RESEARCH METHODOLOGY

Research Methodology is a systematic procedure of collecting information in order to

analyse and verify a phenomenon. the collection of information is done in two principal

sources. They are as follows

1. Primary Data

2. Secondary Data
 DATA ANALYSIS & INTERPRETATION

Financial Ratio Analysis

Allstate: Travelers: Chubb Ltd.: Allstate:

Total = 93.4 = 92.6 = 94.7 = 93.6

Property= 105.1

Personal lines= 93.1

Commercial= 92.3

Managing a combined ratio is an art and science of managing risk of losses with customer growth.

Allstate aim is to keep combined ratios in each segment and overall lower than 96.
Strategic Marketing Analysis
Financial Increase Profit Combined Ratio < 96

$3.00
Earnings Per Share Debt
Below 30% of Total Capital
Ratio
Customer Increase Loyalty Customers Who
Renew Without Shopping 70%

Branded Agent Loyalists 10%

Increase Customer Base Consideration Rate from 65%
Shopping Consumers
Percent Who 33%
Purchase After a
Quote
Internal Business Effective Planning Prepaid Reinsurance $250 million
Processes for More Natural Disasters Premiums

Increased Claims Accuracy Loss Adjustment Expense

Ratio
£ 70
Learning & Growth Promote Human Experience Hire New Agents 5,000 New Agents

Customer Satisfaction Attain 3 or more J.D. Power

“Power Circles” in All Regions
Continue Acquisitions Net Cash from Investing
Activities Below $1 Billion
 SUGGESTIONS

 The importance of simplicity, ease of use, speed and accuracy is paramount in the insurance industry.

Allstate has worked to increase its technical capabilities to make the insurance process easier for

customers. Allstate has achieved this by partnering with companies such as Mattersight. Mattersight helps

to create and increase chemistry between Allstate and its customers by matching customers with agents

and employees based on personality data. This has helped to increase the ease of use, speed, and

satisfaction for consumers.:. Allstate has also partnered with Splunk Inc. for its IT Operational

Intelligence. Splunk has helped to increase delivery speed and accuracy of insurance quotes for Allstate.

These partnerships have helped Allstate put itself into a strong position operationally to build from in the
 CONCLUSION

 Our strategic analysis above has helped to draw conclusions for the future of Allstate.
Based on trends within the market and Allstate’s success over recent years across the four main
sections of our analysis, the outlook for Allstate is positive. Financially Allstate is in good health
with 45% of analysts determining that the PGR stock is a buy, while 45% of the rest have
determined that Allstate stock is a hold. Importantly, only 10% of analysts believe that Allstate’s
stock should be sold

These expert opinions shed light on the financial strength of Allstate and its positive outlook for
the coming years. Furthermore, over the past two years the highest sell percentage was only
30.4% which signals that the market is confident in the company's future.