Allstate unveiled plans to revamp its distribution channels and its business strategy to grow its property and casualty business, but the executive director of the company's agents' association has criticized the plans.
During its Investor Day conference on June 1, executives with Northbrook, Ill.-based Allstate outlined their strategy for growing business by developing a distribution network that covers all the touch points for consumers. The company is also taking steps it believes will improve the performance of its agency system through consolidation and incentivizing agents to expand their business.
Tom Wilson, Allstate's chairman, president and CEO, spoke about how the company "has made good progress" and is responding to the need to improve the company's performance for the future.
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