Progressive Corporation
| Progressive | |
|---|---|
 |
|
| Type | Public (NYSE: PGR) |
| Founded | 1937 |
| Headquarters | Mayfield Village, Ohio |
| Key people | Glenn Renwick, CEO Peter Lewis, Chairman of the Board (Non-Executive) |
| Industry | Vehicle Insurance |
| Revenue | $14.8 Billion USD (2006) |
| Employees | 28,336 |
| Slogan | It's about you. And it's about time. |
| Website | www.progressive.com |
The Progressive Corporation (PGR), Progressive Casualty Insurance Company, through its subsidiaries, provides personal
automobile insurance, and other specialty property-casualty insurance and related
services in the United States. The company operates in three segments: Personal Lines, Commercial Auto, and
Other-indemnity. The Personal Lines segment writes insurance for private passenger
automobiles, motorcycles, boats, and
The company was co-founded in 1937 by Jack Green and Joe Lewis and is headquartered in Mayfield Village, Ohio. [1]
Industry information
Progressive is the third-largest auto insurer in the United States, in terms of active policies, behind State Farm and Allstate and ahead of GEICO and Farmers Insurance Group. Progressive primarily offers its services under two brands: Progressive Direct® and Progressive Drive®. Progressive Direct is available through 1-800-PROGRESSIVE and the Progressive Web site while Progressive Drive® is available through independent agents and DriveInsurance.com where customers can quote their own policies and then contact an agent to complete the sale.
Marketing and operations
Progressive's marketing campaign is known for offering quotes of its competitors along with its own quote. It was the first major insurer to offer auto polices through the phone and through its Web site.
Immediate Response Vehicles (IRVs) used by Progressive are specially modified Ford Explorers and Ford Escapes. Every major metropolitan area has a claim office while remote areas are serviced by licensed adjusters.
Basis of premium charges
Itemized insurance quotes can be viewed on the company website and insurance policies can be purchased online as well. The website [1] allows the buyer to compare various coverage selections such as "minimum coverage," "economy coverage," "recommended coverage," "plus coverage," and a user defined "custom coverage." Insurance premiums quoted by the company take into account factors such as vehicle make and model, age and gender of driver and location. Violations and accidents found on the drivers history also may affect the premium charged. Progressive looks back 35 - 36 months depending on the state (39 months in New York) to determine eligible accidents and violations.
Concierge Service Centers
Progressive will work with local body shops and car dealerships to repair an insured's vehicle, or a vehicle damaged by an insured, at one of its 50 Concierge Service Centers. This is a free service for any Progressive insured or claimant who lives close enough to one of the facilities. A damaged vehicle can be taken to the Service Center the day following a claim being reported for an insured or after liability has been accepted for a claimant, based on schedule availability and convenience of the vehicle owner. There a rental vehicle can be obtained and Progressive will handle the entire repair process from that point forward.[2]
Index memberships
References
External links
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
