Allstate 2008 Annual Report Download - page 166

ALLSTATE FINANCIAL SEGMENT
Overview and Strategy The Allstate Financial segment is a major provider of life insurance, retirement and
investment products, and voluntary accident and health insurance to individual and institutional customers. We
serve these customers through Allstate exclusive agencies, the Workplace Division and non-proprietary distribution
channels. Allstate Financial’s strategic vision is to reinvent protection and retirement for the consumer.
To achieve its vision and reach its financial goals, Allstate Financial’s primary objectives are to deepen
financial services relationships with Allstate customers, dramatically expand the workplace business and restore
profitability through operational excellence and portfolio optimization. Sales in non-proprietary channels will be
increasingly tactical as we assess market opportunities. In addition to focusing on higher return markets,
products, and distribution channels, Allstate Financial will continue to emphasize capital efficiency and enterprise
risk and return management strategies and actions.
Allstate Financial’s strategy provides a platform to profitably grow its business. Based upon Allstate’s strong
financial position and brand, our customers seek assistance in meeting their protection and retirement needs
through trusted relationships. We have unique access to potential customers through cross-sell opportunities
within the Allstate exclusive agencies and employer relationships through our Workplace Division. Our investment
expertise, strong operating platform and solid relationships with distribution partners provide a foundation to
deliver value to our customers and shareholders.
We plan to offer a more focused suite of products designed for middle market consumers to help everyday
Americans meet their financial protection needs and help them better prepare for retirement. Our products
include fixed annuities including deferred, immediate and indexed; interest-sensitive, traditional and variable life
insurance; voluntary accident and health insurance; and funding agreements backing medium-term notes.
Banking products and services are also offered to customers through the Allstate Bank. Our products are sold
through a wide range of distribution channels including Allstate exclusive agencies, which include exclusive
financial specialists, independent agents (including master brokerage agencies and workplace enrolling agents),
financial service firms such as banks and broker-dealers, and specialized structured settlement brokers. Allstate
Bank products can also be obtained directly through a toll-free number. Our institutional product line consists
primarily of funding agreements sold to unaffiliated trusts that use them to back medium-term notes issued to
institutional and individual investors.
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