The announcement of Allstate’s new stand-alone telematics company, Arity, hints at the insurer’s ambitions to create an added revenue stream by selling data and analytics knowledge to its competitors, industry experts predict.
The Northbrook, Illinois-based company is attempting to enter the very competitive data & analytics market. Early indications are Allstate wants to sell its knowledge to all third parties, including other insurance companies, according to a Bloomberg article this week.
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