Progressive
Progressive auto insurance has become a household name thanks to the quirky commercials with the bubbly salesperson. However, Progressive, is not the new kid on the block. Headquartered in a Cleveland suburb, Progressive has been offering auto insurance since 1937. It currently has approximately 28,000 employees in over 450 locations throughout the United States. Progressive’s business model enables it to serve customers through traditional agents, over the phone, or online. The pricing model is dependent on which customer interface used. Progressive strives for a leadership position in the industry by being early adopters of innovative products and services, the most recent example being the concept of customer’s naming their own price. The Progressive slogan is “You can have it all with Progressive. Great service. Great Price.”
Progressive offers insurance for automobiles, motorcycles, boats, RVs, snowmobiles, Segways, and commercial automobiles as well as homeowners, condo and renters insurance. They offer customer and claim services with physical locations, through a 24-hour customer phone line, and with 24-hour online access. Progressive offers the following discounts: paying your premiums online, multiple vehicle, being a homeowner, paying premiums in full (every six months versus monthly), as well as no accident discounts.
Progressive offers insurance and services in all 50 states, including the District of Columbia and has 24-hour phone and internet customer service available.
Progressive differentiates itself from its competitors by offering innovative tools and products ahead of their competitors. Progressive likes to say that they offer the customer the services and products they want, when they want them. A recent example of this innovation is the new “Name Your Price” tool that enables customers to name the price they can afford for auto insurance, then the company delivers a quote for coverage based on that price. With an online tool, the customer can then change the price up or down and see how it impacts the various coverages.
The Progressive web site is easy to use and the company has won several awards recently for the website and customer service overall. It has a history of introducing innovative products and services that are soon copied by others in the industry.
