Allstate joins Chicago Quantum Exchange

Allstate has become one of the first major insurers to join the Chicago Quantum Exchange (CQE) as a corporate partner, marking a strategic move to explore how quantum computing can be applied to risk assessment, fraud detection, and customer service.

The partnership gives Allstate access to quantum researchers, startups, and technologists across the Illinois-Wisconsin-Indiana region.

“Allstate has thrived for 94 years by creating the future, not simply adapting to trends. Quantum computing is a path to better serving customers, providing opportunity for employees and generating returns for shareholders. Allstate’s all in!” – Tom Wilson, Chair, President and CEO of The Allstate Corporation.

“Quantum technologies offer transformative potential for many industries, including insurance. Companies like Allstate that are working now to develop sector-specific future applications will be among the first to reap the benefits. We are excited to collaborate with Allstate and welcome them as a partner to the Chicago Quantum Exchange.” – David Awschalom, the University of Chicago’s Liew Family Professor of Molecular Engineering and Physics and director of the Chicago Quantum Exchange.

Separately, Allstate reported estimated catastrophe losses of $594 million ($469 million after-tax) for April 2025, driven by 11 events—primarily two widespread wind and hailstorms. The insurer saw modest policy growth across auto, home, and personal lines, ending May with 25.1 million vehicles insured, while continuing to shrink its commercial lines book. Another way to look at it: at most, Next Insurance—which remains in a close race with Hiscox and now has over 600,000 customers—closed 5,000 commercial insurance leads referred by Allstate.