Progressive Insurance is one the biggest US providers of direct automobile insurance, operating via mail, the internet and independent intermediaries. It manages around 16.5m in-force policies. According to NAIC figures, it was the #4 private auto insurer in 2016 with 9.2% market share, behind State Farm, Geico and Allstate. However it has a much more substantial presence than its private auto rivals in commercial auto insurance, where it is now the overall leader ahead of Travelers with premiums written of $2.6bn. The company also offers property and other insurance, but auto insurance accounts for more than 75% of total premiums. Progressive is widely known for the character of "Flo", a fictional sales agent who has appeared in its advertising since 2008, played by actress and comedian Stephanie Courtney. Flo was named the #1 US advertising icon in 2011 by readers of Entertainment Weekly magazine. A second recurring character, a customer known only as "The Messenger", was introduced in 2011, but didn't have the same appeal and was quickly dropped, as was an oddball "man baby" brand mascot. As a result, Flo is still going strongThe company was originally founded in 1937 by Joseph Lewis and Jack Green as a mutual insurer, before finally going public in 1971. Joseph Lewis's son, Peter Lewis, was chairman until his death in 2013. The group reacquired his shares shortly afterwards. Tricia Griffith was appointed as CEO in 2016; her predecessor Glenn Renwick remains chairman. Revenues hit a new high of $23.4bn for 2016. Most of the company's business is in the US, but it also has a small online operation in Australia. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
Capsule checked 2nd October 2017
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