PROGRESSIVE INSURANCE - A Rich 160 Years of History
How Progressive Began
On March 10, 1937, Joseph Lewis and Jack Green started Progressive
Mutual Insurance Company. They wanted to provide vehicle owners with
security and protection, and they thought an insurance company was a
good investment for a couple of lawyers who were just getting
started.
Since its beginning, Progressive has taken an innovative approach to
auto insurance. We offered drive-in claims service before any other
auto insurance company, and, in another industry first, we allowed
customers to pay their premiums in installments an appealing option
for those who couldn't afford annual payments. Progressive wanted
and still wants to make auto insurance accessible and easy so more
people could protect their vehicles.
By 1951, Progressive's growth prompted a move to new offices in
downtown Cleveland. In 1955, Jack Green became CEO after the death
of Joe Lewis, and Peter Lewis, Joe's son, began his career with
Progressive. Peter immediately began looking for ways to distinguish
the company from its competitors. In 1956, Progressive Casualty
Company was formed to write auto insurance for high-risk drivers.
Today, the company insures all types of drivers.
More growth and expansion in the 1960s brought about the formation
of The Progressive Corporation. In 1965, Peter Lewis assumed the
title of CEO, a position he held for 35 years until he turned the
reins over to Glenn Renwick in 2000. Glenn then passed the
leadership torch to Tricia Griffith, current CEO and President, in
2016.
Growth and Innovation
Progressive's steady growth continued through the years, which
helped fuel the decision to become a public company in 1971. Three
years later, in 1974, Progressive moved its headquarters to the
Cleveland suburb of Mayfield Village.
The next two decades saw steady growth for the company, and in 1987,
Progressive surpassed $1 billion in premiums. That same year, the
New York Stock Exchange listed Progressive stock under the PGR
symbol.
Our business philosophy was to approach auto insurance in an
innovative way like no other company had. From that mindset came the
following industry standards and achievements:
In 1990, we introduced Immediate Response® claims service, available
24/7, to provide customers with personal service and support
immediately after they reported a claim.
In 1992, Progressive was recognized as the largest seller of auto
insurance through independent insurance agents.
In 1994, Progressive surpassed $2 billion in written premium.
Also in 1994, we introduced 1-800-AUTO-PRO, a cutting-edge auto
insurance rate comparison shopping service. Consumers no longer had
to call several companies to compare auto insurance rates in one
phone call to 1-800-AUTO-PRO, they'd receive a Progressive quote and
comparison rates for up to three competitors. Plus, if customers
wanted to buy from Progressive, they could purchase an insurance
policy directly and immediately on the phone. Today, this service is
available by dialing 1-800-PROGRESSIVE (1-800-776-4737).
Another industry first in 1994 was the introduction of the Immediate
Response® Vehicle (IRV), a specially marked and outfitted vehicle
that brought trained claims professionals to wherever customers
needed them even to the scene of an accident.
In the early 2000s, Progressive changed its claims focus to provide
a better overall experience for every party involved in a claim,
including the customer and the body shop. This focus helped us
launch our concierge level of claims service another industry first
in 2003. With this level of service, Progressive oversees all
elements of the claims/repair process on behalf of drivers involved
in accidents, which reduces the time drivers spend managing repairs
from about four days to 15 minutes. Customers simply drop off their
cars at a claims service center, located in select markets, and pick
them up once the repairs are complete Progressive takes care of
everything in between.
In 2006, Progressive expanded its concierge level of claims service
to address the special needs of drivers whose vehicles were totaled
in an accident or other claim. Our Total Loss Concierge service
helped customers find a replacement vehicle at a competitive price.
That service has evolved into the Progressive Car Shopping Service
by TrueCar®. This service makes car shopping easy and offers: real
pricing on cars (not estimates), the ability to see what others paid
for new cars, and the potential to save thousands off MSRP* on new
vehicles. Available in most locations.
Currently, Progressive is one of the largest auto insurance groups
in the United States, thanks to innovations including comparison
rates and 24/7 customer and claims service. Our growth continues at
a steady pace, too: Between 1996 and 2005, Progressive grew an
average of 17 percent per year, from $3.4 billion to $14 billion.
Online Insurance and Beyond
In 1995, when the Internet was just gaining popularity, Progressive
stepped ahead of the competition and became the first major auto
insurer in the world to launch a Web site. The site was primarily
informational, but it soon became more interactive. By 1996,
consumers could obtain comparison rates online, and by 1997, they
could buy auto insurance policies online in real time.
The site has continually evolved with technology, and today,
customers can use the following features, 24/7, on Progressive's Web
sites:
Policy Service and Management Policyholders can log in to update
information, make payments, get vehicle recall information and more.
Online Claims Reporting Policyholders can log in to report auto
accidents and glass claims in minutes. For glass claims, you can
show us what type of glass damage occurred using our unique visual
reporting tool. For claims other than glass, you may even have the
option to schedule an appointment at a claims service center or a
network repair shop when you report your claim.
Rate Ticker Our scrolling rate ticker displays actual Progressive
Direct auto insurance rates side-by-side with those of other top
auto insurers.
Agent Locator If you prefer to buy insurance through an agent, you
can search for local independent insurance agents by entering your
ZIP code or by selecting the type of insurance you'd like to buy.
Talk to Me Our online customer service feature uses Voice Over
Internet Protocol (VoIP) technology to allow online shoppers who
have questions about their Progressive Direct auto insurance quote
to click on an icon and talk to a representative over the Internet
or have a representative call them directly.
Instant Quotes Whether you want to purchase online or through an
agent, you can receive online insurance quotes for your vehicles.
Prices vary based on how our customers choose to buy.
And that's not all. With Progressive, you can insure more than just
your car we offer insurance policies for motorcycles, boats/PWC,
RVs, business vehicles, snowmobiles and Segway® HTs. We can also
assist in helping you find homeowners insurance.
What's Next?
We want to stay one step ahead of the competition by offering
customers the products and services they want, when they want them.
It's our philosophy and it's helped make us one of the largest auto
insurance groups in the country.