Jack Statza has been a senior associate at Allstate Strategic Ventures, insurance firm Allstate’s corporate venture capital (CVC) arm, since 2016 where he focuses on early-stage investments in artificial intelligence, machine learning, underwriting and claims technologies.
He said: “The idea of being a part of the innovation efforts at a $40bn-plus revenue company was an exciting proposition. Every day I have the opportunity to evaluate enabling and potentially disruptive technologies to drive the company forward.”
He considers his greatest success to date is Allstate’s investment in cloud-based analytics software developer Amenity Analytics, which helps businesses analyse text documents. He said: “I was among the first to see the value of this unique technology and how it could be used across our business.”
However, his role also comes with challenges, especially ways to streamline the onboarding of startups, according to Statza, who said: “I am proud to say that I work alongside some of the brightest minds in the business and together, we have made meaningful strides towards developing more efficient processes to benefit our company.”
To improve the CVC industry, Statza says collaboration is important, adding: “Tapping into our collective brain trust and sharing best practices will make us stronger and more successful.”
Prior to Allstate, he had been an investment banking associate at consulting firm Lazard for nearly two years from 2015 where he provided sell and buy-side middle-market M&A and debt advisory services for technology companies, advising entrepreneurs on exits via acquisition.
He also held a brief stint at advisory firm Livingstone, as well as a four-year consultant role at financial services firm Northern Trust, where he advised senior management on areas for strategic, technological and operational improvements, and drove value creation initiatives.
Statza received his bachelor’s degree in finance, investments and banking from the University of Wisconsin-Madison’s School of Business, and an MBA from the University of Chicago’s Booth School of Business. He is a Chartered Financial Analyst credential holder.
