Allstate to phase out Esurance

Allstate Corp. announced it will phase out its Esurance insurance brand in 2020.

Allstate purchased the 20-year-old insurance business in 2011.

"Insurance affordability will be improved by combining the Allstate, Esurance, Encompass and Answer Financial organizations into one business model. This will lower costs and support more competitive prices without reducing margins. ... It will no longer be necessary to utilize both the Allstate and Esurance brands for direct sales," company officials said.

Raed more from the Chicago Business Journal.