The Allstate Corporation (NYSE:ALL) Q4 2022 Earnings Call Transcript

But we price for that. We have the fee structure in place for that where €“ and we manage that business very effectively to drive value for a much shorter policy life expectancy for those non-standard risks. As we roll out more middle market products in National General, we’ve really started on that process, but we’ve got a ways to go there. The value €“ the lifetime value expectancy for that policy group should look and feel a lot like the Allstate brand because we’re leveraging the same data, the same capabilities to expand our capabilities in that market. So I think from a customer segment perspective, it should be very similar across channels, given the same risk profile. Different in non-standard auto, but we’ve got a really effective model in National General to manage that business.

Josh Shanker: Thank you for answering my overly belabor questions.

Tom Wilson: I know that’s very helpful. So thank you all for tuning in. Allstate’s obviously focused on using our extensive system operating expertise to improve auto insurance margins. And at the same time, as Mario just mentioned, we’re investing in transforming growth to increase our profit liability business. We have upside in front of us on the investment portfolio, and we’re having a good successful expansion of our circle of protection. So thank you all, and we will talk to you next quarter.

Operator: Thank you ladies and gentlemen for your participation on today’s conference. This does conclude the program. You may now disconnect. Good day.