Progressive Corporation

Website:

https://www.progressive.com/

Introduction:

The Progressive Corporation is 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 expanded internationally as well, offering car insurance in Australia. The company was co-founded in 1937 by Jack Green and Joseph M. Lewis, and is headquartered in Mayfield Village, Ohio.

History:

Progressive was founded in 1937 by Joseph Lewis and Jack Green as Progressive Mutual Insurance Company. Starting in 1956, the company found its niche insuring more risky drivers. In 1987, the sum of the company's written premiums breached $1 billion. In 2016, that number crossed the $20 billion mark. It has generally attempted to live up to its name by being innovative in the industry. 

It boasts being the first auto insurance company to have a website, allow customers to purchase policies via that site, and later to pioneer allowing the use of mobile browsers and smartphone apps for rating and managing policies. It was also the first to offer 24/7 claims reporting. As it has grown, Progressive has sought to be a one-stop insurance provider for families in order to more competently compete with other top-insurers. It's leadership has been marked by consistency, having only 2 CEOs in its history.

Industry Information:

Progressive is one of the largest auto insurers in the United States, with over 13 million policies in force, along with State Farm, Allstate, GEICO, Nationwide Mutual Insurance Company, 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.