- Jan 25, 2018
At this year’s annual meeting, Allstate’s top innovation executive will address the challenges that businesses of all sizes face in a rapidly changing world, and the need to grow and adapt to remain competitive and relevant. As part of his presentation, he will point out that innovation is a critical component to establishing and growing a business.
Allstate Senior Vice President, Product/Service Innovation and Development, Howard Hayes will share that while many may worry that innovation requires large financial resources, it is possible to test new ideas and bring them to fruition without “breaking the bank.”
Hayes will bring his considerable first-hand experience and research insights from industry successes and failures, as well as tried and true ways of putting the “innovation odds” in your favor. Using examples from both iconic and emerging brands such as Google and Navteq, he will showcase how businesses of all sizes have identified and “de-risked” innovative opportunities in their pursuit to capture new value.
Hayes drives the creation of new products and services across Allstate. In his role, Hayes and his team not only evaluate and develop products and services but work closely with Allstate business units to coordinate and support their innovation efforts.
Most recently, Hayes developed a strategy for Allstate to expand its risk protection portfolio resulting in the $1.4 billion acquisition of SquareTrade. He also identified new opportunities for Allstate to optimize the transportation industry’s transition to autonomous vehicles that includes a recently announced joint research program with Stanford University related to artificial intelligence and autonomous vehicle systems. He was a key leader in the creation of the Allstate Innovation Hub at Chicago’s Merchandise Mart, which is the centerpiece of the company’s innovation activities, including Allstate’s newly-formed technology and data analytics company, Arity.
Previously, as Senior VP at NAVTEQ, a pioneer in digital mapping, Hayes helped create the world’s first satellite-delivered, real-time traffic service, which was launched in 2004 by Honda. From there he built the business to nearly $100 million in annual revenue. After establishing NAVTEQ’s traffic business in North America, Hayes led its global expansion, building NAVTEQ into the world’s largest traffic coverage provider and subscriber base. Today the service is available in 34 countries and is used on more than 17 million navigation devices.
Hayes has an MBA from Harvard Business School and an undergraduate degree from Dartmouth College.
Headquartered in Northbrook, Allstate Corporation is the largest publicly held personal lines property and casualty insurer in America. It was founded in 1931 and became a publicly traded company in 1993.