Allstate and IBM Deploy Hybrid Quantum-Classical Workflows to Optimize Insurance Risk Portfolios - Quantum Computing Report

Insurance provider Allstate and technology developer IBM have demonstrated that quantum computing can optimize risk portfolios and resolve severe computational challenges within the underwriting sector. Published as a pre-print in mid-2026, the joint investigation addresses the chance-constrained knapsack problem, an notoriously difficult class of combinatorial optimization tasks in computer science. The operational objective mirrors the primary core task of insurance underwriting: identifying the most profitable combination of policies to pack into a corporate portfolio without exceeding a maximum allowable risk and loss limit. While standard knapsack problems are difficult for classical systems to solve at scale, the problem becomes exponentially harder [...]

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