Progressive

The Progressive Corporation, known as the 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 was co-founded in 1937 by Jack Green and Joe Lewis and is headquartered in Mayfield Village, Ohio.

Segments

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 recreational vehicles through both an independent agency channel and a direct channel. The Commercial Auto segment writes primary liability and physical damage insurance for automobiles and trucks owned by businesses primarily through the independent agency channel. The Other-indemnity segment provides professional liability insurance to community banks, principally directors, and officers liability insurance. It also provides insurance-related services, primarily providing policy issuance and claims adjusting services in 25 states for Commercial Auto Insurance Procedures/Plans. In 2011, the company was ranked 164 in the Fortune 500.

Industry information

Progressive is one of the largest auto insurers in the United States, with over 10 million policies in force, along with State Farm, Allstate, GEICO, Nationwide Insurance, Farmers Insurance Group, and USAA. Progressive primarily offers its services through the Internet or by phone and through independent insurance agents. Progressive's Agency business sells insurance through more than 30,000 independent insurance agencies and progressiveagent.com where customers can quote their own policies and then contact an agent to complete the sale.

In December 2009, Progressive announced it was selling car insurance in Australia. Initially called Progressive Direct it rebranded as Progressive in 2011.

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 policies through the phone and through its web site. In September 2007 Progressive began to offer Pet Injury coverage, which provides coverage for dogs and cats that are injured in a crash and is included at no additional cost with Collision coverage.
Immediate Response Vehicles (IRVs) used by Progressive are specially modified Ford Explorers and Ford Escapes.

Corporate sponsorship

In 2002, the company settled with the State of Georgia in a class action lawsuit over diminished value claims brought by policyholders.
In 2007, the company apologized after it was revealed they hired private investigators to infiltrate a church group and pose as congregation members to collect information on litigants seeking redress from the company. Another lawsuit was filed by the litigants over the affair against the company for invasion of privacy and fraud.
In 2009, the company was sued for allegedly deceiving policyholders by employing illegally-operated, unlicensed body shops to make repairs on vehicles for their clients in order to save money. The court ruled in Progressive's favor on two of the counts and the other four were dropped, pending appeal.
In 2012, the company was widely criticized online for how it handled the claims filed by the family of Kaitlynn Fisher. When Kaitlynn Fisher, 24, was hit and killed by a driver who ran a red light in Baltimore, Progressive fought to avoid payment due, with a policy that covered against the possibility of an accident with an underinsured driver. The driver was found to be negligent at trial with Fisher contending that Progressive provided legal assistance to the defense.

Website : www.progressive.com

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