(Bloomberg) — Allstate Corp. said improved technology will eventually give the auto insurer a chance to boost revenue by selling customer driving data, much as Google Inc. profits by collecting information on those who use its search engine.
"There are lots of people who are monetizing data today," Allstate Chairman and Chief Executive Officer Tom Wilson said Thursday at a conference in New York held by Sanford C. Bernstein & Co. "You get on Google, and it seems like it's free. It's not free. You're giving them information, they sell your information."
Wilson is preparing for a future of autonomous vehicles that ferry passengers and are safer than current fleets. While a lower frequency of accidents may limit demand for insurance, Wilson said that Allstate can adjust to technological improvements.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
