Allstate Hosts Fourth Annual Supplier Diversity Exchange

Earvin "Magic" Johnson to participate in diverse supplier panel

Oct 12, 2011, 12:04 ET from Allstate Insurance Company

NORTHBROOK, Ill., Oct. 12, 2011 /PRNewswire/ -- Allstate Insurance Company (NYSE: ALL) will host its fourth annual Supplier Diversity Exchange October 13 in partnership with the Rainbow PUSH Coalition. Allstate's Supplier Diversity Exchange fosters an opportunity for minority-, women-, LGBT-, and veteran-owned businesses to competitively bid for contracts with Allstate and Allstate's major suppliers. This event also provides small businesses a venue for personal one-on-one time with Allstate staff.

In 2010 over 850 million dollars in commissions were spent with women- and minority-owned Allstate agencies.  Adding that figure to the 200 million the company spent with diverse suppliers brings Allstate's total spend to over one billion dollars in 2010.

"Inclusive diversity is not just a core value at Allstate, it's a business imperative," said Cheryl Harris, senior vice president, Allstate Insurance Company. "When difficult economic times force belt tightening, supplier diversity programs can help keep the door open for many small businesses."

The Exchange, supported by more than 200 Allstate volunteers, also offers business owners a forum for guidance and networking. The event features a panel of Allstate leaders and heads of top diverse suppliers, hosted by Dr. Melvin Gravely, managing director for the Institute for Entrepreneurial Thinking. Participants will share valuable insight about making corporate connections, and maintaining and growing business relationships.

Panelists include:

  • Suren Gupta, executive vice president, Allstate Technology Operations
  • Bob Wasserman, senior vice president e-Business, Allstate
  • Earvin "Magic" Johnson, chief executive officer, Magic Johnson Enterprises
  • Prashant Ranade, chief executive officer, Syntel
  • Firoz Lalji, chief executive officer, Zones

"I am happy to be here to support my partner Allstate in their effort to empower and provide resources to small, minority- and women-owned businesses. Through the promotion of diversity and inclusion through events such as this, Allstate advances change, creates countless opportunities for small businesses and provides the opportunity for job creation at an important economic time," said Earvin "Magic" Johnson, chief executive officer, Magic Johnson Enterprises. "I appreciate the opportunity to share the wisdom I followed through my business experiences with other diverse business owners to contribute to their continued growth."

Cheryl Harris and Mike Escobar, Allstate Insurance Company and Magic Johnson, are available for interviews. Follow Supplier Diversity Exchange updates on Twitter at @AllstateSuplDiv and see video highlights from previous events on Allstate's digital newsroom.

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer known for its "You're In Good Hands With Allstate®" slogan. Now celebrating its 80th anniversary as an insurer, Allstate is reinventing protection and retirement to help nearly 16 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via and 1-800 Allstate®.

SOURCE Allstate Insurance Company