Climate change could pose considerable challenges to the insurance industry due to increased volatility and frequency of extreme weather, and the effect it could have on pricing and availability of insurance products.
As stakeholders become increasingly interested in companies’ environmental stewardship efforts and susceptibility to climate change, Allstate has embraced this opportunity to demonstrate leadership by committing to limit or reduce its impacts. In 2015, Newsweek magazine named Allstate one of the World’s Greenest Companies (#81) for the sixth time. Allstate has also reduced resource use in its customer interactions. Allstate’s paperless billing option, for example, is popular with customers who want to do their part to reduce their impact on the environment. Allstate believes its sustainability initiatives are intrinsically tied to its corporate citizenship and help strengthen employee and customer pride.