Allstate Launches Tech Startup Arity to Power Transportation Analytics and Innovation
Arity, a non-insurance technology company founded by Allstate and located at Chicago’s Merchandise Mart
NORTHBROOK, Ill., (Nov. 10, 2016) – As a company with deep expertise in usage-based insurance, connected cars and telematics, Allstate is taking the next step in its digital journey by launching Arity, a technology startup. Built on Allstate’s 20 billion miles of driving data and more than a million active telematics connections, Arity’s technology uses data to create insights that help businesses and their customers make smarter decisions every day. The new tech company has offices at Allstate’s Innovation Hub in Chicago’s Merchandise Mart.
Arity’s sophisticated software capabilities will empower businesses with more meaningful, individualized and impactful solutions. Beginning with the insurance industry, Arity will enable insurers to turn driving data into actionable ideas for improved risk assessment and management. Arity will also develop new products and services that enhance the driving experience and help increase safety on the road.
“From ride-hailing apps to self-driving cars, the personal transportation industry is changing rapidly. We see this as a tremendous opportunity for Allstate to bring its history of innovation and data science to bear through Arity,” says Arity President Gary Hallgren. “Whether it’s a human or computer steering the wheel, we will always need to understand risk through models and algorithms. Arity’s 200-plus technologists, software developers and data scientists are 100 percent focused on creating the technology that will keep the road safer and smarter in this new future.”
Arity’s technology will increase a company’s understanding of risk and help them be more nimble with usage-based telematics solutions. That not only provides significant cost-savings to Arity’s customers, it results in a more personalized experience for the end-consumer.
“Allstate strives to make the road safer for our customers and provide the best service possible,” says Allstate Corporation’s President of Emerging Businesses Don Civgin. “Arity accelerates that mission by delivering the software we need to scale our usage-based insurance business in an innovative way across all our businesses and customers.”
The Internet of Things (IoT) is exploding and dramatically changing transportation. A Business Insider Intelligence report anticipates more than 380 million connected cars on the road by 2021, so there will be an extraordinary amount of data to analyze and insights to apply. Arity’s technology will provide the operating system for this new era, enabling better awareness, risk management and innovation in the insurance community and beyond.
“Arity is at the center of a technological revolution that’s transforming the entire driving experience,” says Hallgren. “It’s a future where a consumer and the manufacturer can anticipate and diagnose an automotive break-down before it happens or a truck driver’s navigation system will default to the safest route. These are just a few of the possibilities, and we’re excited about the incredible potential of Arity’s platform to benefit businesses, consumers, and society.”
Allstate Insurance Company, Esurance and Answer Financial are currently using Arity’s software and analytics, and the service will be commercially available to other customers in 2017.
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names. Now celebrating its 85th anniversary as an insurer, Allstate is widely known through the slogan “You’re In Good Hands With Allstate®.” Allstate agencies are in virtually every local community in America. In 2015, The Allstate Foundation, Allstate, its employees and agency owners gave $36 million to support local communities.
Arity is a technology company that analyzes billions of miles of driving data and other information to generate insights and scores that help our partners better evaluate risk and revolutionize driver safety, connectivity and value. Arity’s growing team, with offices in Allstate’s Innovation Hub in Chicago’s Merchandise Mart, is focused on bringing new technology, products and services to market that enhance the consumer driving experience and help increase safety on the road.
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