Allstate fighting consumer fraud with social media data

Allstate has partnered with insurtech Carpe Data to fight insurance fraud using social media data, the company announced.

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The California startup's automated and predictive scoring platform enables insurance carriers to leverage online data resources as a tool for risk assessment. Allstate, which is already using the software to investigate claims, says it expects to cut down on both cost and time needed to resolve policyholder inquiries as a result of the agreement. No further details as to how the insurer plans to leverage the tool have been disclosed.

"Allstate is always searching for better ways to leverage the power of data to improve our claim process," said Glenn Shapiro, Allstate’s chief claims officer, in a statement. "Carpe Data will help support Allstate's ongoing efforts to integrate data and help our people make the best, most accurate and timely decisions."

"Data and technology now play an increasingly important role in driving change across the insurance industry," added Carpe Data CEO Max Drucker. "We look forward to seeing even more ways our collaboration with Allstate can evolve the sector as a whole."

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