Under the stewardship of EVP of Technology and Operations Suren Gupta (a 2013 Insurance & Technology Elite 8 honoree), Allstate has been aggressively incorporating new technology across all its business units. In the company's first earnings call of 2014, CEO Tom Wilson indicated that strategy is likely to continue as Allstate looks to have a closer relationship with its customers.
"We'll work on streamlining our technology to deliver faster, more effective customer service, to building long-term growth platforms and become a more integral part of our customer's lives," Wilson said. "The evolution of telematics and the connected customer mean there are structural and technological changes that provide opportunities for growth for us."
Wilson also weighed in on the success of Esurance's Super Bowl Twitter campaign, which kept the insurer adding followers through the week until the big reveal of its contest winner on the Wednesday, February 5 Jimmy Kimmel Live. Wilson said that Allstate's strategy regarding Esurance has been to firmly establish it as the go-to brand for the insurance buyer who wants self-service above all else. That's why, he noted, the company's tagline has changed from "People when you want it, technology when you don't" to "Insurance for the modern world."
"We've wanted to strengthen brand by endorsing it with Allstate, not competing with Allstate," he said. "What I like in particular is the credit the team is getting for the campaign is extremely consistent with what the brand stands for."
All in all, "the types of services, information and relationship we have with customers will be stronger and more valuable in the next five years," Wilson concluded. That will show itself in the evolution of its telematics program, DriveWise, he added: "Our offering is meant to enhance the customer value proposition."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio