Progressive Insurance

Company Profile: PROGRESSIVE was started in 1937. On March 10, 1937, Joseph Lewis and Jack Green started Progressive Mutual Insurance Company. They wanted to provide vehicle owners with security and protection, and they thought an insurance company was a good investment for a couple of lawyers who were just getting started. Their business philosophy was to approach auto insurance in an innovative way—like no other company had. The Progressive Corporation is now one of the largest providers of car insurance in the United States. The company also insures motorcycles, boats, RVs, and commercial vehicles, and provides home insurance through select companies.

PROGRESSIVE has taken an innovative approach to auto insurance. They offered drive-in claims service before any other auto insurance company, and, in another industry first, allowed customers to pay their premiums in installments — an appealing option for those who couldn't afford annual payments. Progressive wanted — and still wants — to make auto insurance accessible and easy so more people could protect their vehicles.

milestones:

1937 – Progressive Mutual Insurance Company founded.
1956 – Progressive Casualty Company formed to write high-risk drivers.
1964 – Offers a payment plan to nonstandard auto policyholders and starts insuring products other than autos—motorcycles, motor scooters, and motor bikes.
1965 - The Progressive Corporation is founded and a new company philosophy rejects industry groupthink that only corporate investments can be relied on for profit.
1970’s – Becomes a Public Traded Company, moved headquarters to Mayfield Village, Ohio, first auto insurance company to publish its loss reserve report - providing full disclosure of how loss reserves are established and validated and launched Progressive On-line Transaction Enquiry and Update System (PROTEUS) for data processing.
1980’s – Surpasses $ billion in premiums, listed on the New York Stock Exchange and shifts focus from being an agent-centric company to building a leading consumer brand with the passage of Proposition 103 in California.
1990 – Introduced Immediate Response® claims services, available 24/7,
1992 – Recognized as the largest seller of auto insurance through independent agents.
1994 – Surpassed $2 billion in written premium, introduced 1-800-AUTO-PRO, an auto insurance rate comparison shopping service, and the Immediate Response® Vehicle.
1995 – 2000
- First major auto insurer in the world to launch a Website,
- Began offering limited online policy access and quoting,
- First insurer to give consumers the ability to buy (not just quote) an auto insurance policy in real time online.
- Earned industry awards for customer experience.
- Recognized for having the industry's most comprehensive and easiest-to-use auto insurance customer service site.
- First insurance group to offer instant online quotes for motorcycle, boat, and watercraft insurance and provide the opportunity to buy online.
2000 – Offers Virtually Perfect Service, to evolve customers from insurance consumers to brand promoters, first auto insurance group to offer instant online quotes for RV insurance, first insurance company to introduce a Wireless Application Protocol, which allows consumers to access information about the company, find an independent agent/broker, by using their web-enabled PDA or cell phone, became the first auto insurance group to receive a wireless payment from a customer using these devices.
2001- 2005
- First publicly held company to report underwriting results monthly.
- Launched the unique Rate Ticker, which provides an up-to-the-minute sampling of comparison rates to see Progressive Direct's rate and rates from the country's top auto insurance companies.
- First major insurance carrier to release monthly financial results, began selling first-ever insurance policies for owners of Segway® Human Transporters, the self-balancing and emissions-free transportation devices.
- Introduced Service Centers for claims, offering one-stop, concierge-level service and convenience to customers and launched Concierge Level of Claims service and Total Loss Concierge which helps customers find a replacement vehicle and financing.
- Piloted TripSense®, a usage-based insurance program to research driving habits.
- First major auto insurance group in the United States to connect with consumers using “Talk to Me,” a Voice Over Internet Protocol tool.
- Premiums grew an average of 17% per year from $3.4 billion to $14 billion.
2006-2010
- Renamed Cleveland Indians to Progressive Field
- Became first insurance company to offer Pet Injury coverage, which covers dogs and cats if they're hurt when you're in a car accident.
- Flo and the Superstore debuts. “Wow! I say it louder” and with one phrase their brand icon and a pop-culture phenomenon is born.
- First major U.S. car insurer to release an Android™ app just for car insurance.
2010-2015
- Introduced Snapshot - Pay As You Drive, a usage-based insurance program which rewards customers with lower rates for safe driving behaviors.
- AdAge named Flo to its Top Ten Female Ad Icons of All Time list,
- Option to buy a policy via a mobile app was introduced.
- Progressive Commercial Lines earned the No. 1 spot as insurer of non-fleet trucks.
- Acquired controlling interest in American Strategic Insurance, a homeowners insurance company that aligns with both their culture and business goals.
2016 - Gave customers a new choice in the claim process—the option to submit their vehicle damage photos to us via our mobile app to get a claim estimate and expands beyond auto insurance by moving into the home insurance market.
2017 - First insurer to offer a voice action on Google Home, Flo Chatbot debuts, making Progressive the first major insurer to give consumers the ability to quote an auto policy via Facebook Messenger and launched a multiple home quoting platform with HomeQuote Explorer.
2018 - Made shopping online for bundled auto and homeowners’ policies easier and faster by integrating HomeQuote Explorer with their Direct Auto quoting experience.
2016 - 2020 – Net Premiums grew an average of 14.6% per year from $23.4 billion to $40.6 billion.

Financial Stability:

PROGRESSIVE is rated A+ by A.M. Best, A+ by Standard & Poor’s, A1 by Moody’s.
These ratings reflect strong capital position, excellent risk management and capabilities, product and distribution breath, diversified business with market leadership position and a superior ability to meet on going insurance obligations.
2020 Direct Written Premiums more than $40.6 billion.

Employee, Customer and Community Oriented:

PROGRESSIVE vision is to reduce the human trauma and economic costs associated with automobile accidents. They do this by providing customers with services designed to help them get their lives back in order again as quickly as possible.
Governing their vision, decisions and behavior are Core Values — pragmatic statements of what works best for us in the real world.
- Integrity - Revere honesty. Adhere to high ethical standards, provide timely, accurate and complete financial reporting, encourage disclosing bad news and welcome disagreement.
- Golden Rule - Respect all people, value the differences among them and deal with them in the way we want to be dealt with. This requires you to know yourself and to try to understand others.
- Objectives - Strive to clearly communicate Progressive's ambitious objectives and people's personal and team objectives. We evaluate performance against all these objectives.
- Excellence - Strive constantly to improve to meet and exceed the highest expectations of customers, agents, shareholders, and people. Teach and encourage people to improve performance and to reduce the costs of what they do for customers. Base rewards on results and promotion on ability.
- Profit - Seek to earn a profit by offering consumers products and services they want. Profit is how the free-enterprise system motivates investment and rewards companies that consistently create value.
Progressive Insurance Foundation - employees have an opportunity to make a difference in the world. Its purpose is to match the contributions employees make to charities that they believe in and support.
Volunteer opportunities - employees can support their neighborhood, community and society while also enriching their own life.

Company Highlights:

PROGRESSIVE sponsors The Progressive Automotive X PRIZE, an international competition designed to inspire a new generation of viable, super fuel-efficient vehicles.
"Decade Award" winner, which honors the 10 companies that have averaged the highest rankings on the annual Elite 100 list over the past decade.
2019 - 50th on Diversity MBA’s 50 Out Front: “Best Places to Work”
2019 - 18th on “Best Workplaces for Millennials”
2019 – “Military Friendly Company” by on G.I. Jobs and Military Friendly
2019 - 5th on “Best Workplaces in Financial Services & Insurance”
2019- 6th on Fortune’s “100 Best Companies to Work For”

Industry Rankings:

PROGRESSIVE is the 3rd largest Property and Casualty Insurer and ranks 112th on the Fortune 500 list of largest corporations in the United States based on 2019 Direct Written Premium and the NAIC Report.
- 12th largest writer of Homeowners coverage in the United States per NAIC.
- 3rd largest writer of Private Passenger Auto coverage in the United States.
- #1 writer of Commercial Auto coverage in the United States.
- #1 writer of Commercial Truck Insurance in the United States.
#1 writer of Motorcycle Insurance.
#1 writer of Specialty RV Insurance in the United States.

Products Offered

Vehicle
   Auto
   ATV/UTV
   Boat
   Classic Car
   Golf Cart
   Mexico Auto
   Motorcycle
   PWC
   RV/Trailer
   Segway
   Snowmobile

Property
   Condo
   Flood
   Homeowners
   Home Share
   Home Warranty
   Home Security
   Mobile Home
   Renters

Personal
   Electronic Device
   ID Theft
   Pet
   Travel
   Umbrella
   Wedding & Event

Commercial
   Business Insurance
   Business Owners Policy
   Commercial Auto
   General Liability
   Professional Liability
   Workers’ Compensation

Operating Territory

www.progressive.com

(425) 448-9190
8561 154th Ave NE
Suite 250
Redmond, WA 98052
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