The Progressive Corporation
The Progressive Corporation overview
About The Progressive Corporation
The Progressive Corporation is a large insurance company with corporate headquarters in Mayfield Village, Ohio. The company was founded in 1937 and insures automobiles, motorcycles, boats, RVs, and commercial vehicles in the United States as well as Australia. Progressive is one of the largest providers of car insurance in the United States. The company also sells homeowner’s insurance from select partner insurance companies via an agency relationship, meaning it does not underwrite the policies itself.
Progressive primarily sells its insurance products directly through the Internet or telephone, and it also has a large network of independent (i.e. non-exclusive) agents, who sell products from Progressive as well as other insurers.
Progressive is known as an innovator in the car insurance space, including as a pioneer in the introduction of usage-based pricing, which allows drivers to have their policies priced based on sharing their driving habits through an electronic tracking device. Savings are available for customers who drive less, in safer ways, and during safer times of day.
Progressive is publicly traded company on the New York Stock Exchange, with annual revenue exceeding $30 billion.
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