NORTHBROOK, Ill., July 28, 2015 /PRNewswire/ -- Allstate
Insurance becomes the first company to commit to a second
Corporate-Startup Challenge from The Illinois Science &
Technology Coalition, which matches large corporations with
startups and emerging technology firms across Illinois. Allstate will host selected
companies, provide feedback on their pitches and, ultimately, could
engage the startups in future business endeavors.
Allstate was part of the first class of the Corporate-Startup
Challenge in the summer of 2013. In that class, 22 companies were
referred to Allstate's portfolio, and 13 were selected to present
for further evaluation. After the demonstration day, six
companies were identified for additional diligence and one became
an approved Allstate preferred vendor.
"As a pilot member of the Corporate-Startup Challenge, Allstate
recognized the opportunity Illinois entrepreneurs provide," said Allstate
Claims Vice President Shawn
Broadfield. "We are always thinking about new ways to
deliver on our promise to our customers and the Corporate Startup
Challenge is a great way to do that by connecting with promising
entrepreneurs in our home state."
Allstate's latest participation in the Corporate-Startup
Challenge will be specifically geared toward its Claims department.
Allstate is interested in connecting with aspiring companies that
can solve challenges and streamline efficiencies related to all
aspects of the claims process, including an interest in digital
customer experience, data analytics, and sensor/Internet of Things
technologies.
"The Corporate-Startup Challenge is all about connecting
entrepreneurs and innovators across the state with large
corporations for mutual benefit, providing startups with vital
access and partnership opportunities, while helping corporations
innovate and stay competitive," ISTC President and CEO Mark Harris said. "We are thrilled to be working
again with Allstate to help cultivate meaningful matches with the
state's thriving entrepreneurial community as the company continues
to advance innovative solutions for its customers."
The matchmaking process will take place over the next five
months. Corporate partners identify innovation areas for potential
collaboration and review selected startups curated by the ISTC
through a network of more than 55 referral partners statewide that
includes universities, incubators/accelerators, and
associations/non-profits (view full list). This culminates in
private demo day showcases where corporations connect with
promising entrepreneurs.
Corporations and startups interested in learning more about the
Corporate-Startup Challenge are encouraged to visit
www.illinoisinnovation.com.
The Allstate Corporation (NYSE: ALL) is the nation's largest
publicly held personal lines insurer, protecting approximately 16
million households from life's uncertainties through auto, home,
life and other insurance offered through its Allstate, Esurance,
Encompass and Answer Financial brand names. Allstate is widely
known through the slogan "You're In Good Hands With
Allstate®." The Allstate brand's network of small
businesses offers auto, home, life and retirement products and
services to customers in the United
States and Canada. In the
20 years since Allstate became a fully independent public company,
The Allstate Foundation, Allstate, its employees and agency owners
have donated more than $405 million
to support local communities.
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SOURCE Allstate Insurance