Progressive is a major car insurance provider in the United States that has experienced high growth over the past 20 years, rising from the 34th largest insurer to the 3rd largest through an average annual growth rate of 17%. Progressive disrupted the industry by providing cheaper insurance quotes through an innovative online tool that considers more detailed risk variables and data. The company also created the iconic character Flo in advertisements to personify the brand and build a connection with customers. Looking ahead, Progressive plans to continue innovating, expanding its data and markets beyond vehicle insurance to sustain its competitive edge.

1. CASE STUDY ANLAYSIS
ON

2. Car Insurance provider in United States
Co-founded in 1937 by Jack Green and Joseph M Lewis
Has the highest growth rate in the Insurance industry
Industry rank no.3 from rank no.34 in span of 20 years

3. OPERATIVE INNOVATION
Approach to auto insurance like ‘no other company had’

8. Providing cheaper Insurance through
‘Quote Your Price Tool’

9. Different sources/variables into calculation
More detailed risk estimation
Extensive and state-of-the-art software
High satisfaction with Immediate Response
Fast service

10. Created Iconic character FLO.
Who can be seen across platforms.
Extensive Social Media coverage

12. Connected with customers
Presence felt that insurance products
are tangible
Various ads projected her as a friend in need.
The following advertisements aptly illustrates it…..

13. Flo was always up-to-date

15. Average growth of 17% per year
&
Increased Market share

18. Keep innovating
Remain updated
Expand its market beyond vehicle insurance
Competitive pricing
Continuously expand its data warehouse
Continuous customer evaluation
Keep expanding its use of IT

19. 1. About Progressive
2. How did it grow so fast?
3. Why is Flo effective?
4. What exactly did Progressive benefit?
5. What is the future ……………..

20. DISCLAIMER
Created by Rohit George, USICT, during an
internship by Prof. Sameer Mathur, IIM Lucknow.