Latest news with #Allstate
Business Insider
2 days ago
- Business
- Business Insider
Is your job application being rejected by AI? We asked 7 big companies.
It's the great mystery facing frustrated job seekers: Who — or what — is rejecting my application? As more companies turn to AI to boost productivity,applicants often tell BI that they wonder whether a human ever reviewed their résumé. We reached out to seven major companies and found out that AI's role in the hiring process varies widely. Mark Grimwood, Salesforce's SVP of Recruiting, said the company received "tens of thousands" of applications for account executive roles in the first quarter of this year — a position the company is investing heavily in. Grimwood said two key factors help manage this volume: skilled recruiters who know how to spot talent with the right skills and experience, and Agentforce — the company's AI-powered tool. He said Agentforce helps recruiters scan for valued skills like collaboration, storytelling, and AI literacy, and identify promising candidates. "Our human recruiters are overseeing this process from start to finish, but using AI in our hiring processes really helps our recruiters be more productive and prioritize their time on the most relevant candidates," he said. Grimwood said the company's recruiters strive to give every application the attention it deserves, but not every one is reviewed by a human. "The sheer volume we see — especially in areas like sales, where we are really growing and investing — means we have to be strategic," he said. AI is playing a growing role in the hiring process. Some job seekers have used AI tools to optimize their résumés, submit hundreds of applications, and navigate interviews, while some businesses are using AI-assisted applicant tracking systems to evaluate and prioritize candidates. While AI has helped streamline parts of the process, it's also created headaches on both sides: Some applicants have told Business Insider they worry they're being rejected by algorithms with little or no human review, while companies are overwhelmed by AI-generated applications that aren't always accurate or well-crafted. While job seekers' concerns are understandable, most companies haven't offloaded their entire application review process to AI, though many are using it to assist. Business Insider asked seven companies — Salesforce, Google, Kraft Heinz, McKinsey, Verizon, Exelon, and Allstate — what role AI plays in evaluating applicants. Have you landed a new job in the last few years and are open to sharing your story? Please fill out this quick Google Form. Struggling to find work? Please fill out this Google Form. How AI is a tool in the job candidate evaluation process Some companies are trying to strike a delicate balance: using AI to help evaluate applicants without relying on it too heavily, and ensuring substantial human involvement. Google, Allstate, Kraft Heinz, and Exelon all said recruiters still review every application and decide who moves forward. Sean Barry, Allstate's vice president of talent acquisition, said the company uses technology to pinpoint strong candidates, which has helped speed up the early stages of the hiring process. He said it used to typically take about 22 days for the company to follow up with promising candidates — asking for details like location and salary expectations — but that now it's happening in just 11 days. "When you get 1,000 people applying for a single job, we use the technology not to decide who's the right fit, but to figure out which, say, 50 look like they could potentially be the right 50 to begin screening," he said. However, Barry said every application is still reviewed by a human, and that humans continue to decide which candidates move forward, and who ultimately gets hired. A Google spokesperson said the company's recruiting teams are exploring ways to make the application review process more efficient, and AI is a part of that effort. "We use machine learning to suggest candidates for open roles based on their skills and experience, which in turn, frees up recruiters to focus more on building relationships with the best candidates," they said. While this technology helps prioritize candidates, the spokesperson said every application submitted to Google is still reviewed by a human. Denise Galambos, chief people and equity officer at Exelon, said the company uses AI to help rank candidates based on various criteria, but a recruiter looks at every résumé. "We are not using AI to just right off the bat, exclude people," she said. Some companies are still relying heavily on recruiters Some companies have been slower to adopt AI for candidate evaluation, or have focused on other ways to apply the technology in hiring. Spring Lacy, Verizon's vice president of talent acquisition, said the company doesn't use AI tools to filter or rank applications — that job still falls to its recruiters. She said Verizon is open to using AI to make hiring more efficient, potentially freeing up recruiters to spend more time with top candidates. But any technology, she said, would need to function properly. "We want to make sure that any tools that we use are fair, and that there's no bias in the AI," she said. "That it can accurately and equitably screen résumés based on our qualifications." Blair Ciesil, partner, global talent attraction at McKinsey, said the company doesn't use AI to rank applicants during the screening process. Applications are reviewed by humans who have a set of criteria they're looking for in candidates. "We do not use AI to evaluate cover letters or résumés," she said, adding that AI's primary role in the hiring process is a "candidate bot" that helps employees prepare to interview applicants for open roles. Allstate is also exploring alternative ways to use AI in hiring — including to revisit past applicants. Barry said the company adopted a tool last year that helps flag qualified candidates who were initially turned down and recommends them for other roles. Through this process, Allstate has hired more than 100 people, many of them for claims roles. "While they might've been a no-go for that role at that time, it certainly doesn't mean that they're not a fit for the company and potentially a fit for another need," Barry said.
Yahoo
3 days ago
- Business
- Yahoo
TRV Outperforms Industry, Trades at Premium: How to Play the Stock
Shares of The Travelers Companies, Inc. TRV have gained 26.8% in the past year, outperforming its industry, the Finance sector and the Zacks S&P 500 composite's growth of 18.5%, 17.8% and 9.1%, respectively. The insurer has a market capitalization of $59.90 billion. The average volume of shares traded in the last three months was 1.3 million. Image Source: Zacks Investment Research Shares of Travelers closed at $264.41 on Tuesday and are trading above the 50-day and 200-day simple moving averages (SMA) of $263.84 and $251.68, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data. Image Source: Zacks Investment Research Its shares are trading at a premium to the Zacks Property and Casualty Insurance industry. Its price-to-book value of 2.13X is higher than the industry average of company has a Value Score of B. This style score helps find the most attractive value stocks. Image Source: Zacks Investment Research Shares of other insurers like The Allstate Corporation ALL, Arch Capital Group Ltd. ACGL and The Progressive Corporation PGR are also trading at a multiple higher than the industry average. The Zacks Consensus Estimate for Travelers' 2025 revenues is pegged at $49.17 billion, implying a year-over-year improvement of 5.8%. The consensus estimate for 2026 earnings per share and revenues indicates an increase of 30.7% and 6.3%, respectively, from the corresponding 2025 beat earnings estimates in each of the past four quarters, with an average surprise of 75.37%. Eight of the 14 analysts covering the stock have raised estimates for 2025, and six analysts have raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 2.9% and 1.7%, respectively, in the past 60 days. Image Source: Zacks Investment Research Based on short-term price targets offered by 21 analysts, the Zacks average price target is $285.24 per share. The average suggests a potential 7.5% upside from the last closing price. Image Source: Zacks Investment Research Return on equity (ROE) for the trailing 12 months was 16.1%, which compared favorably with the industry's 7.8%. This reflects its efficiency in utilizing shareholders' funds. Sustained operational excellence helped generate double-digit core ROE in nine out of the last 10 years. Travelers aims to generate mid-teens core ROE over time. Also, return on invested capital (ROIC) has been increasing over the last few quarters as the company raised its capital investment over the same time frame. This reflects TRV's efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 9%, better than the industry average of 5.9%. Travelers is poised for growth, driven by solid retention rates, favorable pricing, an uptick in new business and positive renewal premium trends. The company's broad product portfolio, covering nine distinct lines of business, provides extensive coverage options. Continued execution of strategic growth initiatives, combined with stable market environments, is expected to support the expansion of TRV's auto, homeowners, and commercial insurance segments. To solidify its competitive advantage in the Bond & Specialty segment, it plans to launch products in 2025. Higher returns from the non-fixed income portfolio have been driving investment income over the last four years amid a low interest rate environment. Travelers estimates fixed-income NII, including earnings from short-term securities, to be $725 million after-tax in the second quarter, growing to approximately $755 million in the third quarter and then to around $790 million in the fourth quarter of 2025. The insurer expects the $100 billion investment portfolio to continue generating a higher level of predictable and reliable net investment margin has improved 170 basis points over the last two years on prudent has a conservative balance sheet among its peers. The insurer remains focused on keeping the debt-to-capital ratio between 15 and 25 and has been increasing its book value for the past 10 years. TRV had $4.49 billion remaining under repurchase authorization at first-quarter 2025 end. Travelers' strong presence in auto, homeowners, and commercial U.S. property-casualty insurance provides a solid foundation for future growth. An impressive history of inorganic expansion strengthens its position. Continued momentum in renewal rate improvements, high retention levels and increased new business, supported by a well-diversified portfolio and solid capital strength, is likely to sustain its earnings has been hiking dividends for the last 21 years. Its dividend yield of 1.7% appears attractive compared with the industry average of 0.2%, making it an attractive pick for yield-seeking investors. Its VGM Score of B instills confidence. Back-tested results show that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy), offer the best opportunities in the value investing despite its premium valuation, this Zacks Rank #2 stock is worth adding to your portfolio. You can see the complete list of today's Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report The Allstate Corporation (ALL) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report Arch Capital Group Ltd. (ACGL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
3 days ago
- Automotive
- Forbes
Here's Where Allstate Says You'll Find The Best Drivers In The Nation
Back in junior-year high-school driver's-ed classes we were all taught the merits of defensive driving. The concept centers on anticipating potential hazards, adapting to changing road conditions and preventing accidents by being on the alert for drivers who make mistakes or act unpredictably. Those living in the Northeastern states should heed the latter caution tenaciously, since that's where Allstate Insurance's latest America's Best Drivers Report indicates the worst drivers among the top 200 cities in the U.S. call home. Boston, with its narrower byways and older infrastructure, tops the list of the most accident-prone metro areas overall, with drivers being involved in a crash at an average of once every 3.07 years. According to Allstate claims data, the average driver in the U.S will experience a collision once every 10.56 years. However, don't necessarily count out those living on the West Coast as being necessarily more-mellow in this regard, with California placing no fewer than three major cities among the 10 burgs having the most crash-prone motorists. Perhaps they're too mellow? Texas residents, particularly those living in Brownsville and surrounded by wide-open spaces, were found to be the safest in the nation, with residents of the Laredo, McAllen and Corpus Christi regions likewise landing near the top of the most-cautious side of the ledger. Allstate's data also shows that the Midwest, typically known for its even-keeled denizens, is becoming more hazardous, with drivers dwelling in several metro areas racking up a higher rate of accidents than in previous years' reports. As examples, St. Louis MO dropped by 89 places in the list for 2025, and Kansas City, MO fell by a comparable 84 spots. On the other hand, the report shows that drivers in cities like Portland, OR and Seattle and Belleview, WA have shown some of the most significant reductions in vehicle crashes since Allstate's last Best Drivers report was issued. That alone should make the Great Northwest a great destination for those looking for take both a safe and scenic road trip this summer. As for the 'usual suspects,' i.e. U.S. cities known for having the nation's most-deficient drivers, Los Angeles, CA ranks at number 194 out of 200; San Francisco, CA at 178; Chicago, IL at 156; Detroit, MI at 142; and New York, NY at 140. Allstate's America's Safe Drivers Report is being issued at the height of vacation season as a courtesy to road-trippers, and ranks the nation's top 200 metropolitan areas according to the average collision frequencies of their residents. Rankings are based on property and collision damage claims reported to the insurer between January 2022 and December 2023. We're featuring the lists of metro areas in which Allstate data says have the nation's best and drivers (along with the average frequency of collisions) in the accompanying box; you can find the full report on Allstate's website, Short of steering clear of or moving away from any of the cities deemed having the most dangerous drivers, experts suggest following these time-honored defensive driving tips: Stay Alert and Focused: Keep your attention on the road, mirrors, and surroundings and avoid distractions like calling, texting or eating while behind the wheel. Expect the Unexpected. Assume other drivers will act badly when it's least expected, possibly running red lights, switching lanes suddenly or making a sudden stop. Stick to the Speed Limit: Getting somewhere a few minutes quicker may not be worth exceeding the limit, at the risk of getting into an accident or being issued a costly moving violation. Maintain a Safe Following Distance. No matter how well your car's brakes may perform, use the 'three-second rule' to maintain ample space from the vehicle ahead (leave three Mississippis worth of space when the car in front passes a fixed point) to leave enough time to react and brake safely if necessary. Add a few Mississippis when driving over slick or snowy roads. Adjust for Weather and Traffic Conditions. Likewise, maintain a more leisurely pace in rain, fog, snow or heavy traffic. The Best: The Worst: Source: Allstate's America's Best Drivers Report 2025.
Forbes
3 days ago
- Automotive
- Forbes
Here's Where Allstate Says You'll Find The Best And Worst Drivers In The Nation
Back in junior-year high-school driver's-ed classes we were all taught the merits of defensive driving. The concept centers on anticipating potential hazards, adapting to changing road conditions and preventing accidents by being on the alert for drivers who make mistakes or act unpredictably. Those living in the Northeastern states should heed the latter caution tenaciously, since that's where Allstate Insurance's latest America's Best Drivers Report indicates the worst drivers among the top 200 cities in the U.S. call home. Boston, with its narrower byways and older infrastructure, tops the list of the most accident-prone metro areas overall, with drivers being involved in a crash at an average of once every 3.07 years. According to Allstate claims data, the average driver in the U.S will experience a collision once every 10.56 years. However, don't necessarily count out those living on the West Coast as being necessarily more-mellow in this regard, with California placing no fewer than three major cities among the 10 burgs having the most crash-prone motorists. Perhaps they're too mellow? Texas residents, particularly those living in Brownsville and surrounded by wide-open spaces, were found to be the safest in the nation, with residents of the Laredo, McAllen and Corpus Christi regions likewise landing near the top of the most-cautious side of the ledger. Allstate's data also shows that the Midwest, typically known for its even-keeled denizens, is becoming more hazardous, with drivers dwelling in several metro areas racking up a higher rate of accidents than in previous years' reports. As examples, St. Louis MO dropped by 89 places in the list for 2025, and Kansas City, MO fell by a comparable 84 spots. On the other hand, the report shows that drivers in cities like Portland, OR and Seattle and Belleview, WA have shown some of the most significant reductions in vehicle crashes since Allstate's last Best Drivers report was issued. That alone should make the Great Northwest a great destination for those looking for take both a safe and scenic road trip this summer. As for the 'usual suspects,' i.e. U.S. cities known for having the nation's most-deficient drivers, Los Angeles, CA ranks at number 194 out of 200; San Francisco, CA at 178; Chicago, IL at 156; Detroit, MI at 142; and New York, NY at 140. Allstate's America's Safe Drivers Report is being issued at the height of vacation season as a courtesy to road-trippers, and ranks the nation's top 200 metropolitan areas according to the average collision frequencies of their residents. Rankings are based on property and collision damage claims reported to the insurer between January 2022 and December 2023. We're featuring the lists of metro areas in which Allstate data says have the nation's best and drivers (along with the average frequency of collisions) in the accompanying box; you can find the full report on Allstate's website, Short of steering clear of or moving away from any of the cities deemed having the most dangerous drivers, experts suggest following these time-honored defensive driving tips: Stay Alert and Focused: Keep your attention on the road, mirrors, and surroundings and avoid distractions like calling, texting or eating while behind the wheel. Expect the Unexpected. Assume other drivers will act badly when it's least expected, possibly running red lights, switching lanes suddenly or making a sudden stop. Stick to the Speed Limit: Getting somewhere a few minutes quicker may not be worth exceeding the limit, at the risk of getting into an accident or being issued a costly moving violation. Maintain a Safe Following Distance. No matter how well your car's brakes may perform, use the 'three-second rule' to maintain ample space from the vehicle ahead (leave three Mississippis worth of space when the car in front passes a fixed point) to leave enough time to react and brake safely if necessary. Add a few Mississippis when driving over slick or snowy roads. Adjust for Weather and Traffic Conditions. Likewise, maintain a more leisurely pace in rain, fog, snow or heavy traffic. The Best: The Worst: Source: Allstate's America's Best Drivers Report 2025.
Business Wire
5 days ago
- Automotive
- Business Wire
Hagens Berman: Judge Certifies Class of Arizona Motorists in Massive Allstate Insurance Benefits Class-Action Lawsuit
PHOENIX--(BUSINESS WIRE)--Attorneys at Hagens Berman representing Arizona motorists against Allstate announced a major victory in a class-action lawsuit on behalf of Arizonans who were seriously injured or lost family members in auto accidents since 2016. The lawsuit claims Allstate unlawfully denied significant benefits to thousands of Arizona claimants. 'The court's ruling is a huge victory for thousands of Arizona policyholders who have unknowingly been denied full benefits under their Allstate insurance,' said Rob Carey. On June 11, 2025, Judge Krissa M. Lanham for the U.S. District Court for the District of Arizona issued an order certifying a class of Allstate policyholders for trial on whether Allstate shorted them on uninsured motorist coverage. The suit claims that when an insurance policy covers multiple vehicles, Allstate was obligated to multiply the amount of coverage by the number of vehicles and failed to do so. 'The court's ruling is a huge victory for thousands of Arizona policyholders who have unknowingly been denied full benefits under their Allstate insurance,' said Rob Carey, partner at Hagens Berman's Phoenix office leading the case against Allstate. 'We hope to assist as many Arizona motorists as possible in seeking compensation for Allstate's wrongs.' Arizona residents who settled an uninsured motorist or underinsured motorist bodily injury claim in AZ in or after 2015 may be entitled to compensation. According to attorneys, even if motorists were told that they received a maximum payout of uninsured motorist (UM) or underinsured motorist (UIM) benefits, attorneys at Hagens Berman may still be able to secure a significant additional amount, even if the insured has settled the claim with legal assistance already. According to the lawyers for the insured, Arizonans who settled UM/UIM claims involving accidents as far back as 2016 may be affected. Learn more about your rights and potential compensation. Arizona Allstate UM/UIM Benefits Explained The lawsuit was originally filed in 2023 and claims that Allstate's has breached its insurance policies and acted in bad faith in the way it calculates UM/UIM benefits, leaving Arizona claimants receiving less than what they are owed. The daughter of the lawsuit's named plaintiff was seriously injured in 2021 in a crash with an uninsured non-party in which she suffered more than $100,000 in damages. She was insured under a policy covering multiple vehicles, each with $100,000 in coverage. But instead of multiplying the coverage limit by the number of vehicles as plaintiffs claim is required, Allstate paid only $100,000. As the judge's order explained, '[A]n insured might obtain a policy covering two vehicles that provides $50,000 of UI/UIM coverage 'per person.' An insured wishing to stack coverages would claim the presence of a second vehicle provides 'a separate, additional [UI/UIM] coverage' that can be combined, increasing the total coverages available from $50,000 to $100,000.' Dorazio had a policy with Allstate covering four vehicles with 'per person' UI/UIM limits of $100,000, according to the judge's order. 'Despite knowing the claim exceeded the single coverage limit and that stacking was sometimes offered, Allstate did not disclose that stacked coverages were possible,' Judge Lanham wrote. 'It instead paid only the single coverage limit of $100,000.' The order draws upon a 2023 ruling where Hagens Berman and its team convinced the Arizona Supreme Court that unless auto insurers comply with certain specific, established requirements of Arizona law, they must stack UM/UIM benefits when a single insurance policy covers multiple vehicles. Plaintiffs claim that Allstate failed to meet these requirements for members of the class. Under Judge Lanham's order the class would include those persons who had an Allstate policy or policies covering more than one vehicle, were injured in a covered accident, and were paid the UM/UIM coverage limit as if there were only one insured vehicle. Even if your case was before 2016 or after this ruling, Hagens Berman may be able to help recover significant benefits. According to the lawsuit, Allstate is one of the largest auto insurers in the United States, with premiums paid to the company approaching $30 billion annually. Find out more about the class-action lawsuit against Allstate on behalf of Arizona claimants. About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation law firm with a tenacious drive for achieving real results for those harmed by corporate negligence and fraud. Since its founding in 1993, the firm's determination has earned it numerous national accolades, awards and titles of 'Most Feared Plaintiff's Firm,' MVPs and Trailblazers of class-action law. More about the law firm and its successes can be found at Follow the firm for updates and news at @ClassActionLaw.
