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{{Infobox company
| name = The Progressive Corporation
| logo = Logo of the Progressive Corporation.svg
| logo_size = 260px
| type = [[Public company|Public]]
| traded_as = {{ubl|{{NYSE|PGR}}|[[S&P 500]] component}}
| founder =
| area_served =
| key_people = [[Tricia Griffith]], President and CEO
| industry = [[Vehicle Insurance]]
| revenue = $23.44 billion [[U.S. dollar|USD]] (2016)
| operating_income =
| net_income =
| assets =
| equity =
| owner =
| num_employees = 30,000+ (2018)
| divisions =
| foundation = {{start date and age|1937|3|10}}
| location = [[Mayfield Village, Ohio]]
| locations =
| website = {{URL|progressive.com}}
}}
'''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]].<ref>{{cite book|pages=142|title=Information Technology and Organizational Transformation: Solving the Management Puzzle|author= Suzanne Rivard|author2=Benoit Aubert |author3=Michel Patry |author4=Guy Paré |author5=Heather Smith |year=2004|publisher=[[Butterworth-Heinemann]]|isbn=978-0-7506-6202-4}}</ref>
==History==
Progressive was founded in 1937 by Joseph Lewis and Jack Green as Progressive Insurance Company. Starting in 1956, the company found its niche insuring more risky drivers. In 1965, [[Peter B. Lewis]], son of Joseph Lewis, and his mother borrowed $2.5 million, pledging their majority stake as collateral, and completed a [[leveraged buyout]] of Progressive.<ref name=AmerPolicyRoundtable>[http://www.aproundtable.org/library/articles/life/peter_lewis.html American Policy Roundtable: "Peter B. Lewis: This lone ranger has nothing to hide from the Plain Dealer" by Steven Litt] September 29, 2002</ref><ref name=CrainsArielleKass>[http://www.crainscleveland.com/article/20100524/FREE/305249970 Crains Cleveland: "Peter Lewis -Chairman, Progressive Corp" By ARIELLE KASS] May 24, 2010</ref> In 1987, the sum of the company's written premiums breached $1 billion.<ref>{{cite web|title=Progressive History|url=https://www.progressive.com/progressive-insurance/history/|website=Progressive.com|accessdate=29 April 2016}}</ref> In 2016, that number crossed the $20 billion mark.<ref>{{cite web|title=LinkedIn|url=https://www.linkedin.com/company/progressive-insurance/comments?topic=6126032656590262272&type=U&scope=3264&stype=C&a=2oK4}}</ref> 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.<ref>{{cite web|title=Progressive Firsts|website=Progressive.com|url=https://www.progressive.com/progressive-insurance/first/}}</ref> It was also the first to offer 24/7 claims reporting.<ref>{{cite web|title=Progressive Background|website=Progressive.com|url=https://www.progressive.com/newsroom/press-kit/progressive-background/}}</ref> 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.{{citation needed|date=September 2016}} <!-- Its leadership has been marked by consistency, having only 3 CEOs in its history.<ref>{{cite news |last=Litt |first=Steven |date=September 29, 2002 |title=Peter B. Lewis: This lone ranger has nothing to hide |url=http://www.aproundtable.org/library/articles/life/peter_lewis.html|archive-url=https://web.archive.org/web/19700101010101/http://www.aproundtable.org/library/articles/life/peter_lewis.html|newspaper=[[The Plain Dealer]] |location=Cleveland |archive-date=Unknown |dead-url=yes |access-date=September 12, 2016 }}{{Not in source given}}</ref>-->
==Segments==
The company operates in three segments: Personal Lines, Commercial Auto, and Other-[[indemnity]]. The Personal Lines segment writes insurance for private passenger automobiles, [[motorcycle]]s, boats, and [[recreational vehicle]]s through both an independent [[agency (law)|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 [[bank]]s, 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 13 million policies in force,<ref>[http://wayback.archive-it.org/all/20090227030514/http://investors.progressive.com/pdf/mreport-0109.pdf].</ref> along with [[State Farm Insurance|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.<ref>[http://newsroom.progressive.com/2009/december/progressive-enters-australia.aspx].</ref> Initially called Progressive Direct, it rebranded as Progressive in 2011.<ref>[http://www.progressiveonline.com.au].</ref>
==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.<ref>{{cite book|author=Jack W. Plunkett|title=The Almanac of American Employers 2009: Market Research, Statistics & Trends Pertaining to the Leading Corporate Employers in America|publisher=Plunkett Research, Ltd|year=2008|isbn=978-1-59392-143-9}}</ref>
Immediate Response Vehicles (IRVs) used by Progressive are specially modified [[Ford Explorer]]s and [[Ford Escape]]s.<ref>{{cite book |title=Plunkett's Insurance Industry Almanac 2006: The Only Complete Reference To The Insurance And Risk Management Industry |isbn=978-1-59392-038-8|year=2005|author=Jack W. Plunkett|publisher=Plunkett Research Ltd}}</ref>
==Advertising==
Progressive's television advertisements feature an overly enthusiastic cashier named [[Flo (Progressive Insurance)|Flo]] ([[Stephanie Courtney]]), who explains the benefits of Progressive Insurance.<ref>Garcia, Chris. [http://www.austin360.com/tv/content/tv/stories/2008/10/1020progressive.html "The Strange Allure of the Progressive Insurance Girl"]. ''Austin American-Statesman'', 20 October 2008.</ref><ref>Inman, David. [http://www.bostonherald.com/entertainment/television/general/view.bg?articleid=1138829 "TV Q&A with David Inman"]. ''Boston Herald'', 14 December 2008.</ref> In December 2010, the company introduced the "Messenger," as a complementary campaign.<ref>Elliott, Stuart. [https://www.nytimes.com/2010/12/01/business/media/01adco.html?_r=1&ref=progressivecorporation A Nomadic Insurance Pitchman, Luring New Customers"]. ''New York Times'', 30 November 2010.</ref>
In 2012, Progressive introduced another character, a personified box ([[Chris Parnell]]) representing the company's products. It is portrayed as having an entourage (including a personal trainer).<ref name="adage-thebox">{{cite web|title=Flo Gets More Company as Progressive Rolls Out 'The Box'|url=http://adage.com/article/news/flo-company-progressive-rolls-box/238621/|website=Advertising Age|accessdate=16 January 2017}}</ref>
Progressive introduced another character, a teenaged "baby". In the commercials, he is usually seen in his baby carrier, which is being carried by his mom, whose face is slightly obscured and is only seen from the neck down.
In Australia, Progressive uses a female character named "Kitty." She is styled similar to Flo.
{{clear}}
==Products==
{{refimprove section|date=August 2012}}
{{Advert|section|date=November 2013}}
According to a February 2011 ''[[Wall Street Journal]]'' article, Progressive has a leg up on its rivals in Pay As You Drive insurance, a form of vehicle insurance also generically known as usage-based insurance.<ref>{{cite news| url=https://www.wsj.com/articles/SB10001424052748704775604576120361954865544?ru=yahoo | work=The Wall Street Journal | first=Erik | last=Holm | title=How Am I Driving? Insurers May Know | date=February 4, 2011}}</ref> Progressive has seven U.S. patents covering usage-based insurance methods and systems, with more patents pending. Progressive began working on the concept in the mid-1990s and continues to refine the concept and bring it to the mass market.
Snapshot is Progressive's [[Pay As You Drive]], or [[usage-based insurance]] program. Snapshot is a voluntary discount program where drivers can save money on their car insurance by sharing their driving habits with Progressive. According to Progressive, Snapshot is best for people who drive less, in safer ways and during safer times of day.<ref name="progressive.com">[http://www.progressive.com/snapshot/].</ref> Snapshot customers can make changes to their driving habits that will lead to bigger discounts by checking their driving data and projected discount on progressive.com over the course of their initial policy period.<ref name="ReferenceA">http://www.progressive.com/auto/snapshot-how-it-works/</ref>
Drivers plug a device the size of a garage door opener into the on-board diagnostic (OBD) port of their car. The device records and sends the driving data to Progressive, and Progressive uses that information to calculate the rate. After 30 days, customers find out if they’re eligible for a discount based on that 30-day "snapshot" of their driving habits. At the end of a six-month policy period, Progressive calculates the customer's renewal discount and customers return the device to Progressive. The company doesn’t take into account how fast the car goes although it does take into account how fast and frequently the vehicle operator brakes. Snapshot is voluntary and customers can opt out at any time. The customer is charged up to $50.00 if they do not return the snapshot device to Progressive should they decide not to engage in the program after receiving it.<ref name="ReferenceA"/>
Snapshot is currently available in 45 states plus the District of Columbia. Because insurance is regulated at the state level, Snapshot is currently not available in Alaska, California, Hawaii, and North Carolina.<ref name="progressive.com"/> Most recently, Snapshot became available in Indiana in May 2015.
==Corporate sponsorship==
On December 13, 2006, the company said earnings rose 58 percent in November as the company retained more of the premiums it collected because of comparisons to a month affected by Hurricane Katrina claims.<ref>{{cite web |url=https://www.lexis.com/research/retrieve?_m=817200add6ee008536504a101d6abff6&docnum=1&_fmtstr=FULL&_startdoc=1&wchp=dGLbVzk-zSkAb&_md5=740b17f227435ca6ef55bf763b67ed8c |title= Progressive Nov. Earnings Up 58 Percent
}}</ref>
In January 2008, [[Jacobs Field]] in [[Cleveland, Ohio]], home of the [[Cleveland Indians]], was renamed Progressive Field. Progressive signed a 16-year contract for the naming rights, as well as sponsorship rights to become the Official Auto Insurer of the Cleveland Indians. The agreement costs around $3.6 million per year.<ref name="announce">{{cite web|url=http://blog.cleveland.com/sports/2008/01/cleveland_indians_formally_ann.html|title=Cleveland Indians formally announce naming rights sold to Progressive Insurance |date=January 11, 2008|accessdate=2008-01-11|work=[[The Plain Dealer]]|author=Mike Starkey}}</ref> (Mayfield Village, Ohio, where the company is based, is a suburb of Cleveland.)
In March 2008, Progressive announced its title sponsorship of the Progressive Insurance [[Automotive X PRIZE]] and their funding of the $10 million prize purse. The Progressive Automotive X PRIZE is an international competition designed to inspire a new generation of viable, super fuel-efficient vehicles. The competition is open to teams from around the world that can design, build and bring to market 100 MPGe (miles per gallon energy equivalent) vehicles.<ref>{{cite web|year=2007|title=Auto X Prize Revs Up|url=http://cosmiclog.msnbc.msn.com/archive/2007/03/30/107615.aspx|publisher=[[MSNBC]]|author=[[Alan Boyle]]|accessdate=2008-09-16}}</ref>
On December 14, 2010, the Gator Bowl Association announced that Progressive Insurance would become the title sponsor for the [[2011 Gator Bowl]]<ref name="ProgressiveSponsor">[http://www.jaxdailyrecord.com/showstory.php?Story_id=532508 "Jacksonville Daily Record: December 17, 2010-Progressive Sponsors Gator Bowl"].</ref> college football bowl game.
<u>Motorcycle</u>
Progressive has been the Title Sponsor of the [[International Motorcycle Shows]] (IMS) since 2010.<ref>{{Cite web|url=http://www.motorcycleshows.com/|title=Progressive International Motorcycle Shows {{!}} motorcycleshows.com|website=www.motorcycleshows.com|language=en|access-date=2018-06-20}}</ref>
Progressive has been the Title Sponsor of [[Sturgis Motorcycle Rally]] in [[Sturgis, South Dakota|Sturgis, SD]] since 2017.
[[Bikes Blues and BBQ|Bikes, Blues and BBQ]]: Title Sponsor, 2015 - Current
[https://revivalcycles.com/pages/about-the-handbuilt-motorcycle-show The Handbuilt Bike Show]: Presenting Sponsor, 2018 - Current
[[Laconia Motorcycle Week]]: Title Sponsor, 2012 - Current
[http://www.leesburgbikefest.com Leesburg Bikefest]: Presenting Sponsor, 2014 - Current
[http://www.motoblot.com Motoblot]: Presenting Sponsor, 2015 - Current
[http://ohiobikeweek.com Ohio Bike Week]: Title Sponsor, 2016–Present
<u>Boat</u>
Progressive has been the Title Sponsor of the [http://www.nmma.org National Marine Manufacturers Association] (NMMA) boat shows since 2012, and will maintain title sponsorship through at least 2022.<ref>{{Cite news|url=https://www.nmma.org/press/article/21936|title=Progressive® Renews Title Sponsorship for NMMA Boat & Sportshows|access-date=2018-06-20}}</ref>
[http://fredhall.com Fred Hall Shows]: Title Sponsor, 2016–Present
[http://lemta.com LEMTA] (Lake Erie Marine Trades Association): Title Sponsor, 2016–Present
<u>Outdoors</u>
[http://www.snobarons.com Hay Days]: Official Insurance Sponsor, 2018 - Current
[http://www.quartzsitervshow.com Quartzsite Sports, Vacation and RV Show]: Official Insurance Sponsor, 2014 - Current
==Controversies==
In 2002, the company settled with the State of Georgia in a class action lawsuit over diminished value claims brought by policyholders.<ref>[http://www.insure.com/articles/lawsuitlibrary/progressive-ga.html "Progressive settles Georgia diminished value lawsuit"] {{webarchive|url=https://web.archive.org/web/20081120074557/http://www.insure.com/articles/lawsuitlibrary/progressive-ga.html |date=2008-11-20 }}, Insure.com. February 20, 2002. Retrieved November 26, 2009.</ref>
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.<ref>[https://www.reuters.com/article/domesticNews/idUSN2326105820070823?feedType=RSS&feedName=domesticNews "Progressive CEO sorry for spying on church goers"], Reuters. August 23, 2007. Retrieved November 26, 2009.</ref>
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.<ref>[http://www.collisionweek.com/cw/news/2009/f0904-civi.asp "Civil Conspiracy Added to List of Charges Against Progressive Insurance"] {{webarchive|url=https://web.archive.org/web/20110708175349/http://www.collisionweek.com/cw/news/2009/f0904-civi.asp |date=2011-07-08 }}, Collision Week. September 4, 2009. Retrieved November 26, 2009.</ref> The court ruled in Progressive's favor on two of the counts and the other four were dropped, pending appeal.<ref>[https://archive.is/20120719115852/http://www.autobodynews.com/news/industry-news/item/4845-class-action-judgments-geico-wins-appeal-vs-greenberger--progressive-wins-2/6-vs-blue-ash-inc.html "Class Action Judgments: GEICO Wins Appeal vs. Greenberger & Progressive Wins 2/6 vs. Blue Ash Inc."], Auto Body News. February 23, 2011. Retrieved April 30, 2012.</ref>
Also in 2009, the company was accused of ordering their advertisements off the air during the show broadcast of [[Glenn Beck]] on the [[Fox News Channel]] over comments made about U.S. President [[Barack Obama]].<ref>ColorOfChange.org: [http://orig.colorofchange.org/beck/release-pull.html Procter & Gamble, Progressive Insurance Pledge Not to Advertise on Glenn Beck on Fox News; LexisNexis-owned Lawyers.com Pulls Ads from Glenn Beck]. August 6, 2009.</ref><ref>{{cite news|title=TUNING IN TO TV|first=Robyn-Denise|last=Yourse|work= Washington Times|date=August 17, 2009|page=B.6}}</ref> Progressive responded that they never authorized their ads to be aired during Beck's program, and they aired in that timeslot due to Fox's error.<ref>[http://newsroom.progressive.com/2009/august/progressive-statement-glenn-beck-program.aspx "Progressive Statement Regarding Advertising on The Glenn Beck Show"], Progressive Insurance, August 24, 2009. Retrieved November 26, 2009.</ref>
In 2012, the company was widely criticized online for how it handled the claims filed by the family of Kaitlynn Fisher. She died at the age of 24 when a car she was driving was hit by a car that had run a [[traffic light|red light]] in [[Baltimore]]. Progressive fought to avoid payment due to Fisher's estate. Fisher's insurance policy with Progressive included coverage in the event of an accident with an [[underinsured]] driver. The underinsured driver was found to be negligent in a jury trial brought by the Fisher family,<!--Circuit Court for Baltimore City - Civil System, Case # 24C11002185 --> with the Fisher family contending that Progressive provided legal assistance to the defense.<ref>{{cite web |url=http://mattfisher.tumblr.com/post/29338478278/my-sister-paid-progressive-insurance-to-defend-her |title=My Sister Paid Progressive Insurance to Defend Her Killer In Court |author=Fisher, Matt |date=13 August 2012 |publisher=Tumbler |website=Premium Fisher [blog] |accessdate=26 March 2018}}</ref><ref>{{cite news |url=http://observer.com/2012/08/comedian-matt-fisher-claims-sisters-progressive-insurance-paid-for-her-killers-lawyers/ |title=Comedian Matt Fisher Claims Sister’s Progressive Insurance Paid for Her Killer’s Lawyers |author=Grant, Drew |date=13 August 2012 |work=Observer |accessdate=26 March 2018}}</ref><ref>{{cite news |url=http://www.dailymail.co.uk/news/article-2188022/Not-Progressive--Insurance-company-defends-drivers-killer-court.html |title='My dead sister paid for Progressive to defend driver who killed her': Brother's outrage at insurance company's efforts to avoid paying claim |author=Epstein, Emily Anne |date=13 August 2012 |newspaper=The Daily Mail |accessdate=26 March 2018}}</ref><ref>{{cite news |url=http://gawker.com/5934436/comedian-calls-out-progressive-for-defending-his-sisters-killer-progressive-responds-in-heartless-robot-fashion |title=Comedian Calls Out Progressive Insurance for Defending His Sister's Killer; Progressive Responds in Heartless Robot Fashion |author=Peitzman, Louis |date=13 August 2012 |work=Gawker |accessdate=26 March 2018}}</ref> In two followup statements, Progressive explained that they did not "serve as the attorney for the defendant in this case"<ref>{{cite web |url=http://www.progressive.com/understanding-insurance/entries/2012/8/14/statement_on_fisher.aspx |title=Statement on the Fisher Case |author=Wolf, Chris |date=14 August 2012 |website=Understanding Insurance [blog] |publisher=Progressive |accessdate=26 March 2018 |archiveurl=https://web.archive.org/web/20120817004719/http://www.progressive.com/understanding-insurance/entries/2012/8/14/statement_on_fisher.aspx |archivedate=17 August 2012 |deadurl=yes}}</ref> and then clarified that "[a]s a defendant in this case, Progressive participated in the trial procedures on our own behalf."<ref>{{cite web |url=http://www.progressive.com/understanding-insurance/entries/2012/8/16/update_on_the_kaitl.aspx |title=Update on the Kaitlynn Fisher Case |author= |date=16 August 2012 |website=Understanding Insurance [blog] |publisher=Progressive |accessdate=26 March 2018 |archiveurl=https://web.archive.org/web/20120818023038/http://www.progressive.com/understanding-insurance/entries/2012/8/16/update_on_the_kaitl.aspx |archivedate=18 August 2012 |deadurl=yes}}</ref> Progressive's position was that fault for the accident had not been clearly established, since three witnesses (the driver of the other car, that car's passenger, and Ms. Fisher's passenger) believed that Fisher had run a red light, and filed a [[Intervention (law)|motion to intervene]]<!-- According to court documents, searchable from http://casesearch.courts.state.md.us/casesearch/inquiry-index.jsp, the initial complaint was filed on 31 March 2011, and Progressive filed their motion to intervene on 22 April. Plaintiffs consented to the motion to intervene on 27 April, and motion was granted on 31 May. --> to assert that she had been at fault, and therefore was not liable to pay the underinsured motorist claim. The lawyer for the Fisher family countered by noting that two of the three witnesses were not independent, adding "I have an issue with how they examined the evidence to abandon their insured" and introduced the idea the state [[insurance commissioner]] could find Progressive had acted in bad faith. As noted, Progressive lost the case and was ordered to pay the underinsured motorist claim in addition to a separate settlement with the Fisher family "to avoid a hearing before the state insurance commissioner".<ref>{{cite news |url=https://www.nytimes.com/2012/08/18/your-money/progressives-side-of-the-insurance-case-that-blew-up-on-the-internet.html |title=The Auto Insurance Case That Blew Up on the Internet |author=Lieber, Ron |date=17 August 2012 |newspaper=The New York Times |accessdate=26 March 2018}}</ref>
==Index memberships==
* [[S&P 500]]
* [[S&P 1500]] Super Comp
==See also==
* [[List of United States insurance companies]]
==References==
{{reflist|30em}}
==External links==
*[http://www.progressive.com/ Progressive web site]
{{Finance links
| name = Progressive Corporation
| symbol = PGR
| sec_cik = PGR
| yahoo = PGR
| google = PGR
}}
*[http://www.progressiveonline.com.au/ Progressive (Australia) web site]
{{Automotive industry in the United States}}
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Financial services companies established in 1937]]
[[Category:Insurance companies of the United States]]
[[Category:Insurance companies of Australia]]
[[Category:Companies based in Cleveland]]
[[Category:Auto insurance in the United States]]
[[Category:Progressive Corporation|*]]
[[Category:1937 establishments in Ohio]]
| name = The Progressive Corporation
| logo = Logo of the Progressive Corporation.svg
| logo_size = 260px
| type = [[Public company|Public]]
| traded_as = {{ubl|{{NYSE|PGR}}|[[S&P 500]] component}}
| founder =
| area_served =
| key_people = [[Tricia Griffith]], President and CEO
| industry = [[Vehicle Insurance]]
| revenue = $23.44 billion [[U.S. dollar|USD]] (2016)
| operating_income =
| net_income =
| assets =
| equity =
| owner =
| num_employees = 30,000+ (2018)
| divisions =
| foundation = {{start date and age|1937|3|10}}
| location = [[Mayfield Village, Ohio]]
| locations =
| website = {{URL|progressive.com}}
}}
'''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]].<ref>{{cite book|pages=142|title=Information Technology and Organizational Transformation: Solving the Management Puzzle|author= Suzanne Rivard|author2=Benoit Aubert |author3=Michel Patry |author4=Guy Paré |author5=Heather Smith |year=2004|publisher=[[Butterworth-Heinemann]]|isbn=978-0-7506-6202-4}}</ref>
==History==
Progressive was founded in 1937 by Joseph Lewis and Jack Green as Progressive Insurance Company. Starting in 1956, the company found its niche insuring more risky drivers. In 1965, [[Peter B. Lewis]], son of Joseph Lewis, and his mother borrowed $2.5 million, pledging their majority stake as collateral, and completed a [[leveraged buyout]] of Progressive.<ref name=AmerPolicyRoundtable>[http://www.aproundtable.org/library/articles/life/peter_lewis.html American Policy Roundtable: "Peter B. Lewis: This lone ranger has nothing to hide from the Plain Dealer" by Steven Litt] September 29, 2002</ref><ref name=CrainsArielleKass>[http://www.crainscleveland.com/article/20100524/FREE/305249970 Crains Cleveland: "Peter Lewis -Chairman, Progressive Corp" By ARIELLE KASS] May 24, 2010</ref> In 1987, the sum of the company's written premiums breached $1 billion.<ref>{{cite web|title=Progressive History|url=https://www.progressive.com/progressive-insurance/history/|website=Progressive.com|accessdate=29 April 2016}}</ref> In 2016, that number crossed the $20 billion mark.<ref>{{cite web|title=LinkedIn|url=https://www.linkedin.com/company/progressive-insurance/comments?topic=6126032656590262272&type=U&scope=3264&stype=C&a=2oK4}}</ref> 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.<ref>{{cite web|title=Progressive Firsts|website=Progressive.com|url=https://www.progressive.com/progressive-insurance/first/}}</ref> It was also the first to offer 24/7 claims reporting.<ref>{{cite web|title=Progressive Background|website=Progressive.com|url=https://www.progressive.com/newsroom/press-kit/progressive-background/}}</ref> 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.{{citation needed|date=September 2016}} <!-- Its leadership has been marked by consistency, having only 3 CEOs in its history.<ref>{{cite news |last=Litt |first=Steven |date=September 29, 2002 |title=Peter B. Lewis: This lone ranger has nothing to hide |url=http://www.aproundtable.org/library/articles/life/peter_lewis.html|archive-url=https://web.archive.org/web/19700101010101/http://www.aproundtable.org/library/articles/life/peter_lewis.html|newspaper=[[The Plain Dealer]] |location=Cleveland |archive-date=Unknown |dead-url=yes |access-date=September 12, 2016 }}{{Not in source given}}</ref>-->
==Segments==
The company operates in three segments: Personal Lines, Commercial Auto, and Other-[[indemnity]]. The Personal Lines segment writes insurance for private passenger automobiles, [[motorcycle]]s, boats, and [[recreational vehicle]]s through both an independent [[agency (law)|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 [[bank]]s, 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 13 million policies in force,<ref>[http://wayback.archive-it.org/all/20090227030514/http://investors.progressive.com/pdf/mreport-0109.pdf].</ref> along with [[State Farm Insurance|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.<ref>[http://newsroom.progressive.com/2009/december/progressive-enters-australia.aspx].</ref> Initially called Progressive Direct, it rebranded as Progressive in 2011.<ref>[http://www.progressiveonline.com.au].</ref>
==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.<ref>{{cite book|author=Jack W. Plunkett|title=The Almanac of American Employers 2009: Market Research, Statistics & Trends Pertaining to the Leading Corporate Employers in America|publisher=Plunkett Research, Ltd|year=2008|isbn=978-1-59392-143-9}}</ref>
Immediate Response Vehicles (IRVs) used by Progressive are specially modified [[Ford Explorer]]s and [[Ford Escape]]s.<ref>{{cite book |title=Plunkett's Insurance Industry Almanac 2006: The Only Complete Reference To The Insurance And Risk Management Industry |isbn=978-1-59392-038-8|year=2005|author=Jack W. Plunkett|publisher=Plunkett Research Ltd}}</ref>
==Advertising==
Progressive's television advertisements feature an overly enthusiastic cashier named [[Flo (Progressive Insurance)|Flo]] ([[Stephanie Courtney]]), who explains the benefits of Progressive Insurance.<ref>Garcia, Chris. [http://www.austin360.com/tv/content/tv/stories/2008/10/1020progressive.html "The Strange Allure of the Progressive Insurance Girl"]. ''Austin American-Statesman'', 20 October 2008.</ref><ref>Inman, David. [http://www.bostonherald.com/entertainment/television/general/view.bg?articleid=1138829 "TV Q&A with David Inman"]. ''Boston Herald'', 14 December 2008.</ref> In December 2010, the company introduced the "Messenger," as a complementary campaign.<ref>Elliott, Stuart. [https://www.nytimes.com/2010/12/01/business/media/01adco.html?_r=1&ref=progressivecorporation A Nomadic Insurance Pitchman, Luring New Customers"]. ''New York Times'', 30 November 2010.</ref>
In 2012, Progressive introduced another character, a personified box ([[Chris Parnell]]) representing the company's products. It is portrayed as having an entourage (including a personal trainer).<ref name="adage-thebox">{{cite web|title=Flo Gets More Company as Progressive Rolls Out 'The Box'|url=http://adage.com/article/news/flo-company-progressive-rolls-box/238621/|website=Advertising Age|accessdate=16 January 2017}}</ref>
Progressive introduced another character, a teenaged "baby". In the commercials, he is usually seen in his baby carrier, which is being carried by his mom, whose face is slightly obscured and is only seen from the neck down.
In Australia, Progressive uses a female character named "Kitty." She is styled similar to Flo.
{{clear}}
==Products==
{{refimprove section|date=August 2012}}
{{Advert|section|date=November 2013}}
According to a February 2011 ''[[Wall Street Journal]]'' article, Progressive has a leg up on its rivals in Pay As You Drive insurance, a form of vehicle insurance also generically known as usage-based insurance.<ref>{{cite news| url=https://www.wsj.com/articles/SB10001424052748704775604576120361954865544?ru=yahoo | work=The Wall Street Journal | first=Erik | last=Holm | title=How Am I Driving? Insurers May Know | date=February 4, 2011}}</ref> Progressive has seven U.S. patents covering usage-based insurance methods and systems, with more patents pending. Progressive began working on the concept in the mid-1990s and continues to refine the concept and bring it to the mass market.
Snapshot is Progressive's [[Pay As You Drive]], or [[usage-based insurance]] program. Snapshot is a voluntary discount program where drivers can save money on their car insurance by sharing their driving habits with Progressive. According to Progressive, Snapshot is best for people who drive less, in safer ways and during safer times of day.<ref name="progressive.com">[http://www.progressive.com/snapshot/].</ref> Snapshot customers can make changes to their driving habits that will lead to bigger discounts by checking their driving data and projected discount on progressive.com over the course of their initial policy period.<ref name="ReferenceA">http://www.progressive.com/auto/snapshot-how-it-works/</ref>
Drivers plug a device the size of a garage door opener into the on-board diagnostic (OBD) port of their car. The device records and sends the driving data to Progressive, and Progressive uses that information to calculate the rate. After 30 days, customers find out if they’re eligible for a discount based on that 30-day "snapshot" of their driving habits. At the end of a six-month policy period, Progressive calculates the customer's renewal discount and customers return the device to Progressive. The company doesn’t take into account how fast the car goes although it does take into account how fast and frequently the vehicle operator brakes. Snapshot is voluntary and customers can opt out at any time. The customer is charged up to $50.00 if they do not return the snapshot device to Progressive should they decide not to engage in the program after receiving it.<ref name="ReferenceA"/>
Snapshot is currently available in 45 states plus the District of Columbia. Because insurance is regulated at the state level, Snapshot is currently not available in Alaska, California, Hawaii, and North Carolina.<ref name="progressive.com"/> Most recently, Snapshot became available in Indiana in May 2015.
==Corporate sponsorship==
On December 13, 2006, the company said earnings rose 58 percent in November as the company retained more of the premiums it collected because of comparisons to a month affected by Hurricane Katrina claims.<ref>{{cite web |url=https://www.lexis.com/research/retrieve?_m=817200add6ee008536504a101d6abff6&docnum=1&_fmtstr=FULL&_startdoc=1&wchp=dGLbVzk-zSkAb&_md5=740b17f227435ca6ef55bf763b67ed8c |title= Progressive Nov. Earnings Up 58 Percent
}}</ref>
In January 2008, [[Jacobs Field]] in [[Cleveland, Ohio]], home of the [[Cleveland Indians]], was renamed Progressive Field. Progressive signed a 16-year contract for the naming rights, as well as sponsorship rights to become the Official Auto Insurer of the Cleveland Indians. The agreement costs around $3.6 million per year.<ref name="announce">{{cite web|url=http://blog.cleveland.com/sports/2008/01/cleveland_indians_formally_ann.html|title=Cleveland Indians formally announce naming rights sold to Progressive Insurance |date=January 11, 2008|accessdate=2008-01-11|work=[[The Plain Dealer]]|author=Mike Starkey}}</ref> (Mayfield Village, Ohio, where the company is based, is a suburb of Cleveland.)
In March 2008, Progressive announced its title sponsorship of the Progressive Insurance [[Automotive X PRIZE]] and their funding of the $10 million prize purse. The Progressive Automotive X PRIZE is an international competition designed to inspire a new generation of viable, super fuel-efficient vehicles. The competition is open to teams from around the world that can design, build and bring to market 100 MPGe (miles per gallon energy equivalent) vehicles.<ref>{{cite web|year=2007|title=Auto X Prize Revs Up|url=http://cosmiclog.msnbc.msn.com/archive/2007/03/30/107615.aspx|publisher=[[MSNBC]]|author=[[Alan Boyle]]|accessdate=2008-09-16}}</ref>
On December 14, 2010, the Gator Bowl Association announced that Progressive Insurance would become the title sponsor for the [[2011 Gator Bowl]]<ref name="ProgressiveSponsor">[http://www.jaxdailyrecord.com/showstory.php?Story_id=532508 "Jacksonville Daily Record: December 17, 2010-Progressive Sponsors Gator Bowl"].</ref> college football bowl game.
<u>Motorcycle</u>
Progressive has been the Title Sponsor of the [[International Motorcycle Shows]] (IMS) since 2010.<ref>{{Cite web|url=http://www.motorcycleshows.com/|title=Progressive International Motorcycle Shows {{!}} motorcycleshows.com|website=www.motorcycleshows.com|language=en|access-date=2018-06-20}}</ref>
Progressive has been the Title Sponsor of [[Sturgis Motorcycle Rally]] in [[Sturgis, South Dakota|Sturgis, SD]] since 2017.
[[Bikes Blues and BBQ|Bikes, Blues and BBQ]]: Title Sponsor, 2015 - Current
[https://revivalcycles.com/pages/about-the-handbuilt-motorcycle-show The Handbuilt Bike Show]: Presenting Sponsor, 2018 - Current
[[Laconia Motorcycle Week]]: Title Sponsor, 2012 - Current
[http://www.leesburgbikefest.com Leesburg Bikefest]: Presenting Sponsor, 2014 - Current
[http://www.motoblot.com Motoblot]: Presenting Sponsor, 2015 - Current
[http://ohiobikeweek.com Ohio Bike Week]: Title Sponsor, 2016–Present
<u>Boat</u>
Progressive has been the Title Sponsor of the [http://www.nmma.org National Marine Manufacturers Association] (NMMA) boat shows since 2012, and will maintain title sponsorship through at least 2022.<ref>{{Cite news|url=https://www.nmma.org/press/article/21936|title=Progressive® Renews Title Sponsorship for NMMA Boat & Sportshows|access-date=2018-06-20}}</ref>
[http://fredhall.com Fred Hall Shows]: Title Sponsor, 2016–Present
[http://lemta.com LEMTA] (Lake Erie Marine Trades Association): Title Sponsor, 2016–Present
<u>Outdoors</u>
[http://www.snobarons.com Hay Days]: Official Insurance Sponsor, 2018 - Current
[http://www.quartzsitervshow.com Quartzsite Sports, Vacation and RV Show]: Official Insurance Sponsor, 2014 - Current
==Controversies==
In 2002, the company settled with the State of Georgia in a class action lawsuit over diminished value claims brought by policyholders.<ref>[http://www.insure.com/articles/lawsuitlibrary/progressive-ga.html "Progressive settles Georgia diminished value lawsuit"] {{webarchive|url=https://web.archive.org/web/20081120074557/http://www.insure.com/articles/lawsuitlibrary/progressive-ga.html |date=2008-11-20 }}, Insure.com. February 20, 2002. Retrieved November 26, 2009.</ref>
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.<ref>[https://www.reuters.com/article/domesticNews/idUSN2326105820070823?feedType=RSS&feedName=domesticNews "Progressive CEO sorry for spying on church goers"], Reuters. August 23, 2007. Retrieved November 26, 2009.</ref>
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.<ref>[http://www.collisionweek.com/cw/news/2009/f0904-civi.asp "Civil Conspiracy Added to List of Charges Against Progressive Insurance"] {{webarchive|url=https://web.archive.org/web/20110708175349/http://www.collisionweek.com/cw/news/2009/f0904-civi.asp |date=2011-07-08 }}, Collision Week. September 4, 2009. Retrieved November 26, 2009.</ref> The court ruled in Progressive's favor on two of the counts and the other four were dropped, pending appeal.<ref>[https://archive.is/20120719115852/http://www.autobodynews.com/news/industry-news/item/4845-class-action-judgments-geico-wins-appeal-vs-greenberger--progressive-wins-2/6-vs-blue-ash-inc.html "Class Action Judgments: GEICO Wins Appeal vs. Greenberger & Progressive Wins 2/6 vs. Blue Ash Inc."], Auto Body News. February 23, 2011. Retrieved April 30, 2012.</ref>
Also in 2009, the company was accused of ordering their advertisements off the air during the show broadcast of [[Glenn Beck]] on the [[Fox News Channel]] over comments made about U.S. President [[Barack Obama]].<ref>ColorOfChange.org: [http://orig.colorofchange.org/beck/release-pull.html Procter & Gamble, Progressive Insurance Pledge Not to Advertise on Glenn Beck on Fox News; LexisNexis-owned Lawyers.com Pulls Ads from Glenn Beck]. August 6, 2009.</ref><ref>{{cite news|title=TUNING IN TO TV|first=Robyn-Denise|last=Yourse|work= Washington Times|date=August 17, 2009|page=B.6}}</ref> Progressive responded that they never authorized their ads to be aired during Beck's program, and they aired in that timeslot due to Fox's error.<ref>[http://newsroom.progressive.com/2009/august/progressive-statement-glenn-beck-program.aspx "Progressive Statement Regarding Advertising on The Glenn Beck Show"], Progressive Insurance, August 24, 2009. Retrieved November 26, 2009.</ref>
In 2012, the company was widely criticized online for how it handled the claims filed by the family of Kaitlynn Fisher. She died at the age of 24 when a car she was driving was hit by a car that had run a [[traffic light|red light]] in [[Baltimore]]. Progressive fought to avoid payment due to Fisher's estate. Fisher's insurance policy with Progressive included coverage in the event of an accident with an [[underinsured]] driver. The underinsured driver was found to be negligent in a jury trial brought by the Fisher family,<!--Circuit Court for Baltimore City - Civil System, Case # 24C11002185 --> with the Fisher family contending that Progressive provided legal assistance to the defense.<ref>{{cite web |url=http://mattfisher.tumblr.com/post/29338478278/my-sister-paid-progressive-insurance-to-defend-her |title=My Sister Paid Progressive Insurance to Defend Her Killer In Court |author=Fisher, Matt |date=13 August 2012 |publisher=Tumbler |website=Premium Fisher [blog] |accessdate=26 March 2018}}</ref><ref>{{cite news |url=http://observer.com/2012/08/comedian-matt-fisher-claims-sisters-progressive-insurance-paid-for-her-killers-lawyers/ |title=Comedian Matt Fisher Claims Sister’s Progressive Insurance Paid for Her Killer’s Lawyers |author=Grant, Drew |date=13 August 2012 |work=Observer |accessdate=26 March 2018}}</ref><ref>{{cite news |url=http://www.dailymail.co.uk/news/article-2188022/Not-Progressive--Insurance-company-defends-drivers-killer-court.html |title='My dead sister paid for Progressive to defend driver who killed her': Brother's outrage at insurance company's efforts to avoid paying claim |author=Epstein, Emily Anne |date=13 August 2012 |newspaper=The Daily Mail |accessdate=26 March 2018}}</ref><ref>{{cite news |url=http://gawker.com/5934436/comedian-calls-out-progressive-for-defending-his-sisters-killer-progressive-responds-in-heartless-robot-fashion |title=Comedian Calls Out Progressive Insurance for Defending His Sister's Killer; Progressive Responds in Heartless Robot Fashion |author=Peitzman, Louis |date=13 August 2012 |work=Gawker |accessdate=26 March 2018}}</ref> In two followup statements, Progressive explained that they did not "serve as the attorney for the defendant in this case"<ref>{{cite web |url=http://www.progressive.com/understanding-insurance/entries/2012/8/14/statement_on_fisher.aspx |title=Statement on the Fisher Case |author=Wolf, Chris |date=14 August 2012 |website=Understanding Insurance [blog] |publisher=Progressive |accessdate=26 March 2018 |archiveurl=https://web.archive.org/web/20120817004719/http://www.progressive.com/understanding-insurance/entries/2012/8/14/statement_on_fisher.aspx |archivedate=17 August 2012 |deadurl=yes}}</ref> and then clarified that "[a]s a defendant in this case, Progressive participated in the trial procedures on our own behalf."<ref>{{cite web |url=http://www.progressive.com/understanding-insurance/entries/2012/8/16/update_on_the_kaitl.aspx |title=Update on the Kaitlynn Fisher Case |author= |date=16 August 2012 |website=Understanding Insurance [blog] |publisher=Progressive |accessdate=26 March 2018 |archiveurl=https://web.archive.org/web/20120818023038/http://www.progressive.com/understanding-insurance/entries/2012/8/16/update_on_the_kaitl.aspx |archivedate=18 August 2012 |deadurl=yes}}</ref> Progressive's position was that fault for the accident had not been clearly established, since three witnesses (the driver of the other car, that car's passenger, and Ms. Fisher's passenger) believed that Fisher had run a red light, and filed a [[Intervention (law)|motion to intervene]]<!-- According to court documents, searchable from http://casesearch.courts.state.md.us/casesearch/inquiry-index.jsp, the initial complaint was filed on 31 March 2011, and Progressive filed their motion to intervene on 22 April. Plaintiffs consented to the motion to intervene on 27 April, and motion was granted on 31 May. --> to assert that she had been at fault, and therefore was not liable to pay the underinsured motorist claim. The lawyer for the Fisher family countered by noting that two of the three witnesses were not independent, adding "I have an issue with how they examined the evidence to abandon their insured" and introduced the idea the state [[insurance commissioner]] could find Progressive had acted in bad faith. As noted, Progressive lost the case and was ordered to pay the underinsured motorist claim in addition to a separate settlement with the Fisher family "to avoid a hearing before the state insurance commissioner".<ref>{{cite news |url=https://www.nytimes.com/2012/08/18/your-money/progressives-side-of-the-insurance-case-that-blew-up-on-the-internet.html |title=The Auto Insurance Case That Blew Up on the Internet |author=Lieber, Ron |date=17 August 2012 |newspaper=The New York Times |accessdate=26 March 2018}}</ref>
==Index memberships==
* [[S&P 500]]
* [[S&P 1500]] Super Comp
==See also==
* [[List of United States insurance companies]]
==References==
{{reflist|30em}}
==External links==
*[http://www.progressive.com/ Progressive web site]
{{Finance links
| name = Progressive Corporation
| symbol = PGR
| sec_cik = PGR
| yahoo = PGR
| google = PGR
}}
*[http://www.progressiveonline.com.au/ Progressive (Australia) web site]
{{Automotive industry in the United States}}
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Financial services companies established in 1937]]
[[Category:Insurance companies of the United States]]
[[Category:Insurance companies of Australia]]
[[Category:Companies based in Cleveland]]
[[Category:Auto insurance in the United States]]
[[Category:Progressive Corporation|*]]
[[Category:1937 establishments in Ohio]]
