Northbrook, Illinois, May 6, 2025 – Allstate has joined the Chicago Quantum Exchange (CQE) as a corporate partner, becoming one of the first major insurers to explore how quantum computing can help solve some of the most complex insurance challenges.
“Allstate has thrived for 94 years by creating the future rather than just adapting to trends,” said Tom Wilson, president and CEO of Allstate Corporation. “Quantum computing is a way to better serve customers, provide opportunities for employees and deliver returns to shareholders. Allstate is all!”
Quantum computing aims to analyze large amounts of data at an unprecedented speed. It has the potential to redefine how insurers assess risks, detect fraud and serve customers. Although the technology is still evolving, Allstate can improve its ability to improve accuracy, speed and scalability to support customers.
As part of CQE, Allstate will interact with leading quantum researchers, startups and technicians in the growing Illinois-Wisconsin-India-India quantum innovation ecosystem. This includes accelerating the development of artificial intelligence and machine learning, enhancing opportunities for digital decision-making, and preparing for future quantum-prepared solutions.
“Quantum technology provides change potential for many industries, including insurance,” said David Awschalom, professor of molecular engineering and physics at the University of Chicago LIEW and director of the Chicago Quantum Exchange. “Companies like Allstate are now working to develop future applications in specific areas to become one of the first companies to receive benefits. We are excited to partner with Allstate and welcome them as partners at the Chicago Quantum Exchange.”
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About Allstate
Allstate Corporation (NYSE:ALL) protects people from uncertainty about widespread protection of cars, homes, electronic devices and identities. Products can be obtained through an extensive distribution network including Allstate agents, independent agents, major retailers, online and workplaces. Allstate is well known with the slogan “Your Benefits with Allstate”. For more information, please visit www.allstate.com.
About Chicago Quantum Communicatione
CQE is located at the University of Chicago, consisting of the U.S. Department of Energy’s Argonne National Laboratory and the Fermi National Accelerator Laboratory, the University of Illinois Urbana-Champaign, the University of Wisconsin-University of Wisconsin-University of Madison, Northwestern University and Purdue University. CQE includes over 50 companies, international, nonprofit organizations and regional partners.
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