Copyright 2008 Chicago Tribune Company
Chicago Tribune
May 23, 2008 Friday Chicago Final Edition
SECTION: BUSINESS ; ZONE C; INSIDE FINANCIAL SERVICES ; Pg. 3
LENGTH: 518 words
HEADLINE: Allstate chief shows many facets of leadership
BYLINE: BY BECKY YERAK
Thomas Wilson has a New Age streak to his management style.In late 2006, the then-president of Allstate Corp. took a dozen managers from the Northbrook-based insurer to the Human Performance Institute in Florida for a three-day seminar. Attendees learned how to boost their physical and emotional energy levels by eating better, exercising and finding their "purpose" in life, Wilson explained. The goal was to improve performance."If you know your personal purpose, you'll have plenty of energy to do what you want to do," said Wilson, who has since added the chairman and chief executive titles.His purpose: "I want to help people find more meaning and success in their lives."Wilson, who turned 50 in October, also learned to eat a healthy snack every three hours. "I eat an apple or something in the middle of the morning because of what it does to your glucose levels," he told the Tribune. "They teach you this."Wilson isn't afraid to show a sensitive side either.In his letter to shareholders, who were hosted Tuesday at the annual meeting in downtown Chicago, Wilson tells of the Allstate Foundation's programs on teen driving and domestic violence."I have had tears in my eyes as I listen to stories of domestic violence victims," he wrote to investors of the $36.8 billion business.But he's willing to play hardball.Allstate, which this month introduced new financial products such as ClearTarget Retirement Funds and Guaranteed Lifetime Income, wants to protect such existing products as Your Choice Auto, which offers options for motorists depending on whether they care about cheap or comprehensive coverage."Your Choice Auto continues to be very successful," Wilson said in an interview in late March. "People are starting to copy it now, though. It looks like Farmers has something similar, so we're trying to figure out whether to sue them on the patent."Farmers Insurance spokesman Jerry Davies said in response last month that its Farmers Flex auto package was brought to market "after considerable consumer research and after receiving regulatory approval in states where it is offered." The product enables motorists to lock in base rates for up to three years in most states."Most insurers have many similar auto policy features and some unique ones," Davies said. "Insurance consumers will choose for themselves, and all insurance companies should stay focused on serving customers in the most productive way possible."As of Thursday, Allstate hadn't filed a patent infringement suit against Farmers, an Allstate spokesman said.On a broader scale, Wilson has been weighing the value of patents for Allstate."The test will be on things like Farmers. I've said to our team, 'We've spent all this money on patents. If we think they're protection, let's use them. And if we're not going to use them, let's quit doing them,'" he said. "I don't want to spend money getting a patent just to make ourselves feel good."Right now in financial services, we're wondering how strong will patents be and how good will they be for us. Or is the answer to be faster than everyone else?"
byerak@tribune.com
GRAPHIC: Photo: Allstate CEO Thomas Wilson has displayed sensitive, tough and spiritual sides.Photo(s)
LOAD-DATE: May 23, 2008
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