Summary

Progressive Corporation is an insurance holding company. It offers a range of personal and commercial automobile insurance, specialty property-casualty insurance, and other related services. It offers insurance products for motorcycles, all-terrain vehicles, recreational vehicles, manufactured homes, watercraft, and snowmobiles. The company also operates a property business, providing residential property insurance for homeowners, other property owners, and renters. It markets and distributes insurance products through independent insurance agents and brokers, the internet, mobile devices, and over the phone.

Progressive is enhancing AI capabilities to reduce operating expenses. For instance, it has implemented AI and data analytics technologies to derive precise insights on customers and better target potential customer segments.

Progressive launched Snapshot as part of its usage-based insurance program, which leverages big data to analyze the real-time driving behavior of customers and offer them lower premiums.

In 2019, Progressive partnered with Toyota Insurance Management Solutions to provide Toyota connected vehicle owners with usage-based discounts on insurance premiums.

This report provides insights into Progressive Corporation’s digital transformation strategies and innovation programs. It also gives an overview of its technology initiatives, covering partnerships and product launches, as well as insights on each technology initiative including technology theme, objective, and benefits. In addition, the report includes details of the company’s estimated ICT budgets and major ICT contracts.


Scope

  • Progressive has built various data centers to provide uninterrupted services to its agents, brokers, and other teams across the organization and help achieve greater operational capabilities. The centers feature IT systems that aim to deliver the continuous exchange of information between teams from across the organization.
  • Progressive introduced several telematics solutions to implement connected devices into customers’ vehicles and offer usage-based insurance solutions.
  • Progressive integrated BAE Systems’ fraud detection platform, NetReveal, into its existing systems. This empowers Progressive to identify fraud claims in auto insurance policies.




Reasons To Buy

  • Gain insights into Progressive Corporation’s fintech operations.
  • Gain insights into its fintech strategies and innovation initiatives.
  • Gain insights into its technology themes under focus.
  • Gain insights into its various technological innovations and partnership strategies.