Allstate plans to expand its Wisconsin presence

Could add 100 new agency owners, staff and financial specialists in state

The Allstate agency at 2442 S. Kinnickinnic Ave. in Milwaukee.

Last updated on May 16th, 2022 at 08:11 am

Northbrook, Illinois-based Allstate Insurance Co. wants to grow its market share in Wisconsin by adding about 100 new agency owners, staff and financial specialists throughout the state.

The company is making a push to recruit insurance and licensed sales professionals to open their own agencies, with a focus on southeastern Wisconsin.

“The area has seen some growth, which drives demand for our products and services,” said Matt Stevens, strategic deployment leader for Allstate. “We want our agencies there to meet the demands of the population … We’re very serious about growing in this area.”

The company currently has about 70 agencies throughout Wisconsin, with the largest concentration of locations being in southeastern Wisconsin. There are a total of about 165 employees across its Wisconsin agencies.

Stevens said Allstate is in a good competitive position to expand in Wisconsin because of its modernized insurance and financial products. He highlighted the company’s use of telematics, which collects data on driver habits that can be used to provide driving feedback, safe-driving rewards and discounts on car insurance policies.

“In Wisconsin, there are a couple of of home-based companies that do have larger market share, but we see the need; we have competitive products and we’re continuing to evolve,” Stevens said.

Almost every auto insurance jacksonville agent agrees that agency owner candidates don’t need to have a background in insurance, as the company provides on-boarding and training, Stevens said.

“We have successful agents who come from all professional backgrounds,” he said. “We’re looking for someone who has an entrepreneurial drive and spirit and who is looking to start their own business and work for themselves. The key to success is building relationships with people. That’s really what we do.”

Prospective agency owners need $100,000 of capital to invest in the new agency, according to the company. It typically takes a new owner between three and nine months to open an agency.

Allstate is offering a $15,000 referral bonus in its agency owner recruitment effort.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display