*By Christian Smith* Car-sharing and ride-hailing companies have changed the way we get around ー and now they're about to change the way we buy car insurance. In an interview with Cheddar at CES 2019 in Las Vegas, Nev., Allstate ($ALL) CEO Tom Wilson said that simply insuring your car will become a thing of the past, since many consumers are increasingly ditching the buy-and-drive model. Since many Americans will continue to drive cars they don't actually own, Wilson said insurance will need to reflect that reality. "What's going to happen in the future, I think it's going to be split," Wilson said. "Insurance right now follows the car," he said. "But you should have insurance for what you do as a driver." The dual insurance model to which Wilson is referring doesn't mean insurance costs will necessarily rise. According to Wilson, Allstate tracks 8 billion miles of data a month, which the company is using to give customers more accurate pricing relative to their driving records without any guesswork. As is, the car insurance industry was built on a personal transportation system that is "really inefficient, and it needs to be changed," Wilson said. "We see it as an opportunity, not a risk," he said of the challenge ahead to adapt his business. Allstate also launched a new expansion of the insurance company's identity protection product that will help customers track their digital footprints. The new feature will allow users to see who is tracking their data, send alerts when those groups have been hacked, and help determine a way to delete data from those third parties ー all of which Wilson said will help give power back to the consumer. "We've traded away our individual information without really knowing what it's worth," Wilson said. "What we're trying to do is empower the customer to take control of their digital life." For full interview [click here](https://cheddar.com/videos/allstate-unveils-new-product-to-help-users-track-digital-footprints).

Share:
More In Business
Michigan Judge Sentences Walmart Shoplifters to Wash Parking Lot Cars
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
State Department Halts Plan to buy $400M of Armored Tesla Vehicles
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
Goodyear Blimp at 100: ‘Floating Piece of Americana’ Still Thriving
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
Is U.S. Restaurants’ Breakfast Boom Contributing to High Egg Prices?
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
Load More