Allstate has announced the promotion of Glenn Shapiro to president of its Personal Lines division. He had been chief claims officer.
The company said in announcing the move that Shapiro is tasked with "accelerating the utilization of telematics and building an integrated digital enterprise." Shapiro will report to CEO Tom Wilson and is also responsible for product, claims, operations, risk, finance and distribution. He joined Allstate in 2016.
Allstate signage stands outside its headquarters in Northbrook, Illinois, U.S., on Thursday, Dec. 30, 2010. Allstate Corp. sued Bank of America Corp. and its Countrywide mortgage unit over $700 million in residential mortgage-backed securities the insurer purchased, claiming Countrywide misrepresented the investments. Photographer: Tim Boyle/Bloomberg *** Local Caption ***
Tim Boyle/Bloomberg
In his role leading the Allstate claims organization, Shapiro oversaw the deployment of drone technology on a wide scale in the aftermath of major storms in 2017. He also entered an analytics partnership with insurtech Carpe Data to fight fraud.
Allstate's telematics efforts, led by VP Ginger Purgatorio, have been amplified recently as well. In addition to its Drivewise UBI program, the company has been aggressively pursuing roadside assistance and partnered with Waze to do so. In addition, the company's telematics subsidiary, Arity, is sellling solutions to third parties, including National General Insurance.
Allstate also announced that president Matt Winter is retiring. In addition to Shapiro's move, Steve Shebik is promoted to Vice Chairman and Mario Rizzo to CFO.
A multi-state coalition of insurance commissioners issued a joint letter to the Department of Government Efficiency advising the closure of the Federal Insurance Office.
Liberty Mutual is working with a financial adviser on the potential disposal, which could help it raise a few hundred million dollars, the people said, asking not to be identified because the deliberations are private.
By Jan-Henrik Förster, Elffie Chew and Manuel Baigorri
