What Progressive does

The Progressive Corporation (NYSE: PGR) is a U.S. property and casualty insurance holding company founded in 1937 and headquartered in Mayfield Village, Ohio, that underwrites and distributes personal and commercial insurance products to 43+ million customers across the United States. Its product portfolio spans 30+ lines organized around a vehicle cluster (auto, motorcycle, RV, boat, classic car, snowmobile, golf cart, e-bike, autocycle, and personal transporter), a property cluster (homeowners placed through Progressive Advantage Agency, condo, manufactured home, renters, and flood), personal lines (life via Progressive Life Insurance Company and eFinancial, pet via Pets Best, umbrella, travel, wedding/event, jewelry, identity theft, electronic device, and home warranty), and commercial lines (commercial auto, business owners policy, general liability, professional liability, and workers' compensation), plus financial services including credit cards, HELOC, personal loans, and a car-shopping service. The company operates a multi-channel distribution model — Progressive Direct (online/phone), 40,000+ independent agents, and Progressive Advantage Agency placing home policies with affiliated and unaffiliated insurers — which in 2025/2026 lifted Progressive past State Farm to become the #1 U.S. personal auto insurer at 18.60% market share (NAIC data).

Underlying the underwriting and distribution platform is a multi-decade technology stack anchored by Snapshot telematics (pioneered in 2008 and now expanded to 14 states covering 44% of net premiums written in Q1 2026), AI-powered vehicle damage inspection (computer vision), automated claims and underwriting workflows, the bilingual English/Spanish authenticated website (first of its kind among U.S. carriers), and tools including Name Your Price, AutoQuote Explorer, and HomeQuote Explorer that integrate quote-and-buy flows across the product portfolio. Revenue is generated primarily through earned insurance premiums (FY2025 net written premium implied at approximately $72-74B based on disclosed 2024 NWP of $74.4B with continued double-digit growth, Q1 2026 revenue of $22.19B, and an A+ AM Best financial strength rating), supplemented by investment portfolio income on a $94.1B securities portfolio (as of March 31, 2026), Progressive Advantage Agency placement commissions, and life-insurance referral fees from eFinancial. Pricing is risk-based and varies by state, profile, and channel, with multi-policy bundling discounts (averaging 5% on auto, 25%+ on home+auto bundles) supporting cross-sell density.

Name

Progressive

Legal name

The Progressive Corporation

Website

https://progressive.com

Company type

Public

Founded year

1937

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Progressive is a U.S. property and casualty insurance holding company that underwrites and distributes auto, home, commercial, life, pet, and specialty insurance to 43+ million customers via direct, agent, and agency channels, and in 2025 overtook State Farm as the #1 U.S. personal auto insurer.

Ownership category

akta.pro rank

Headquarters

HQ city

Cuyahoga Falls

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance premiums (P&C): Earned premiums from personal and commercial property and casualty policies including auto, homeowners, motorcycle, RV, boat, umbrella, and commercial lines. Q1 2026 net premiums written of $23.64B, May 2026 net premiums written of $7.03B. 2025 net income of $11.3B, 2024 net written premium of $74.4B.
2. Investment portfolio income: Income generated from Progressive's investment portfolio of fixed-income and equity securities; portfolio fair value was $94.1B as of March 31, 2026 (down from $97.4B at year-end 2025 after a $7.9B variable dividend payment).
3. Progressive Advantage Agency commissions: Compensation received by Progressive Advantage Agency, Inc. (PAA) for placing homeowners and other property policies with affiliated and unaffiliated insurers; PAA compensation varies by insurer, policy sold, sales volume, and profitability.
4. Life insurance referral commissions: Compensation paid by eFinancial, LLC to Progressive Advantage Agency and its affiliated entities for life insurance applications placed through Progressive Life Insurance; eFinancial and its insurers are not affiliated with Progressive.

Pricing tiers

Go-to-market motion4 records

Core offering

Progressive is a U.S. personal and commercial property and casualty insurance carrier offering 30+ insurance and financial services products anchored by personal auto insurance (#1 U.S. personal auto insurer in 2025/2026), with full surrounding product lines in motorcycle, RV, boat, homeowners, condo, life, pet, umbrella, flood, and commercial auto. Its offerings are sold through direct online and phone channels, independent agents, the Progressive mobile app, and embedded/comparison platforms, with proprietary Snapshot telematics-based pricing, AI-driven claims automation, and multi-policy bundling discounts.

Product overview

Progressive operates a platform-plus-modules insurance and financial services architecture rather than a single unified product. The core platform is anchored by its personal and commercial Property & Casualty insurance offerings — most notably auto insurance (where Progressive is the 2nd largest U.S. personal auto insurer and the largest by some market-share measures after overtaking State Farm in 2024/2025) — surrounded by a broad portfolio of insurance modules that share a common quoting, policy administration, and claims infrastructure. The Vehicle Insurance cluster bundles Auto, Motorcycle (where Progressive is the #1 U.S. motorcycle insurer covering 1 in 3 insured riders), RV, Boat/PWC, Classic Car, ATV/UTV, Snowmobile, Golf Cart, E-bike, Autocycle, Personal Transporter, Compact Tractor, and Mexico Auto/Boat policies. The Property Insurance cluster bundles Homeowners (placed through Progressive Advantage Agency with multiple affiliated and unaffiliated insurers), Condo, Mobile/Manufactured Home, Renters, and Flood. The Personal cluster adds Life Insurance (Term policies underwritten by Progressive Life Insurance Company; Final Expense, Short-Term, Whole, and Universal policies placed through eFinancial/Fidelity Life), Pet Insurance (powered by Pets Best), Umbrella, Travel, Wedding & Event, Jewelry, Electronic Device, and Identity Theft Protection. Commercial offerings include Commercial Auto (where Progressive is America's #1 truck insurer), Business Owners Policy, General Liability, Professional Liability/E&O, and Workers' Compensation. Financial services round out the portfolio with a credit card, HELOC, personal loans, car shopping service, and a kids' debit card. Platform-wide technology modules cut across all products: the Snapshot telematics program (ML-driven, expanded to 14 states covering 44% of NPW in Q1 2026), the Name Your Price® budgeting tool, AutoQuote Explorer®, HomeQuote Explorer®, the Progressive Vehicle Protection vehicle service contract, the Sign & Glide® on-water towing app, the Roof Protection Plus® RV endorsement, the PerkShare® discount program, and the Progressive mobile app. Bundling modules enable multi-policy discounts across these products (home + auto customers save over 25% on average). Together, these 30+ insurance products and financial services form a single integrated insurance and financial-services platform serving 43+ million customers through online, phone, independent agent, and mobile-app channels.

Differentiator

Problem solved

Functional benefit

Brands

• Progressive Direct: Direct-to-consumer auto insurance channel offered by Progressive, where customers can quote and buy policies online, by mobile device, or by phone.
• Progressive Home®
• Progressive Life Insurance by eFinancial
• Progressive Pet Insurance by Pets Best
• Progressive Vehicle Protection
• Progressive Commercial

Products and services

• Auto Insurance Progressive's flagship personal auto insurance covering 37+ million drivers, including liability, comprehensive, collision, uninsured/underinsured motorist, roadside assistance, loan/lease payoff, and rideshare coverages, supported by 24/7 claims service and a network repair shop guarantee.
• Motorcycle Insurance Motorcycle insurance covering cruisers, touring, sport, dirt, vintage, custom, scooter/moped, autocycle, e-bike, ATV/UTV, and compact tractor categories starting at $75/year, with automatic OEM parts coverage on comprehensive/collision policies. Progressive is the #1 motorcycle insurer in the U.S. (1 in 3 insured riders).
• RV Insurance Insurance for Class A/B/C motorhomes, travel trailers, fifth-wheel, pop-up, truck campers, cargo/horse, and utility trailers starting at $125/year, including total loss replacement for RVs five model years or less and optional Roof Protection Plus® for water damage.
• Boat Insurance Specialized watercraft insurance for powerboats, sailboats, pontoons, bass/fishing boats, and PWCs (Jet-Ski/Sea-Doo/WaveRunner) starting at $100/year, including optional Sign & Glide® on-water towing app, Propulsion Plus® mechanical breakdown, and automatic wreckage removal and fuel spill coverage.
• Homeowners Insurance Homeowners policies placed through Progressive Advantage Agency with multiple affiliated and unaffiliated insurers, featuring the HomeQuote Explorer® comparison tool, multi-policy bundling discounts, and A+ A.M. Best-rated coverage.
• Condo Insurance HO6 condo insurance covering personal property, dwelling (drywall-in), loss of use, and personal liability for condo owners, with bundling discounts of approximately 7% on auto when combined.
• Life Insurance Term, whole, universal, final expense, and one-year short-term life insurance starting at $32/month for a $250,000 policy. Term policies are underwritten by Progressive Life Insurance Company (with a flexible term option in select states), while other products are placed through eFinancial/Fidelity Life.
• Progressive Pet Insurance by Pets Best Pet insurance for dogs and cats powered by Pets Best, with customizable deductibles, reimbursement percentages, and annual limits to cover vet bills.
• Renters Insurance Renters policies starting under $1/day, covering personal belongings, liability, and temporary living expenses, with multi-policy bundling discounts on auto.
• Umbrella Insurance Extra liability coverage up to $5 million beyond what home and auto policies provide, protecting personal assets and savings.
• Mobile Home / Manufactured Home Insurance Insurance for manufactured homes, singlewides, and park models with specialized protection for porches, garages, and gazebos, plus flexible coverage and deductible options.
• Flood Insurance Flood protection coverage that may be required for properties in designated flood zones.
• Travel Insurance Coverage for trip cancellations, interruptions, and other travel-related emergencies.
• Wedding & Event Insurance Customizable insurance coverage for weddings and special events.
• Jewelry Insurance Standalone policies protecting valuable jewelry from loss, damage, theft, and other covered events.
• Identity Theft Protection 24/7 credit monitoring with instant alerts to protect against identity theft.
• Electronic Device Insurance Coverage for theft, water damage, and cracked screens on smartphones and other electronic devices.
• Classic Car Insurance Specialized, affordable coverage for collector and classic cars.
• Mexico Auto Insurance Coverage placed through a specialized broker for drivers operating in Mexico.
• Mexico Boat & Watercraft Insurance Coverage for boats and PWCs operating in Mexican waters.
• Snowmobile Insurance Coverage for on- and off-slope snowmobile use.
• Golf Cart Insurance Coverage for golf carts used on- and off-course within communities.
• Personal Transporter Insurance Coverage for personal transporters (e.g., e-scooters, Segways).
• Mechanical Breakdown Coverage Coverage protecting cars, trucks, and RVs from unexpected mechanical repair costs, similar to an extended warranty.
• Commercial Auto Insurance Commercial vehicle coverage for trucks, trailers, cars, and SUVs; Progressive is cited as America's #1 truck insurer based on S&P Global Market Intelligence 2022 national written premium data.
• Business Owners Policy (BOP) Safeguards small businesses from liability claims, combining property and liability coverages (some BOPs underwritten by Progressive, others by third-party insurers).
• General Liability Insurance Business liability protection against lawsuits including libel and slander, underwritten by third-party insurers.
• Professional Liability Insurance (E&O) Errors and Omissions coverage for small businesses and professionals such as consultants, engineers, and accountants, with policies averaging around $50 to $69 per month in 2025.
• Workers' Compensation Insurance Coverage for medical expenses and wages for employees hurt on the job, underwritten by third-party insurers.
• Heavy Truck Roadside Assistance Coverage Heavy truck roadside assistance coverage offered by Progressive as a commercial vehicle product for fleet and heavy-truck customers.
• High Approval Credit Card Reward-earning credit card product offered through Progressive's financial services portfolio.
• Home Equity Line of Credit (HELOC) HELOC allowing customers to use their home's equity to pay for major expenses.
• Personal Loans Personal loan product where customers can qualify and see their rate in minutes, with same-day funding if accepted by 5pm EST.
• Car Shopping Service Service to search cars, prescreen dealers, get a price report, and save on a vehicle purchase.

Quantifiable outcome

• Average annual savings of $946 for new auto customers who save and $1,086 for bundlers (12-month national average, June 2024–May 2025)
• +11 more outcomes

Named customers1 record

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability10 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• United States Postal Service (USPS)coreGTM or Marketing Partner · 6 May 2026USPS recognized Progressive as 'Mailer of the Year' at the 2026 Partnership for Excellence Awards at the National Postal Forum in Phoenix, honoring companies demonstrating innovation and collaborative partnerships with USPS. The award was selected by the Postmaster General and USPS executive leadership.
• Hippo Holdings Inc.coreStrategic or Co-development Partner · 19 March 2026Hippo Holdings entered a distribution deal with Progressive Insurance (through Progressive Advantage Agency) making its homeowners insurance products available via Progressive's HomeQuote Explorer platform across eight US states. The partnership allows Hippo to leverage Progressive's distribution network and customer base while offering bundled policy discounts, complementing Hippo's existing Westwood partnership. Per Hippo CEO Rick McCathron, Progressive identifies and qualifies customers while Hippo applies its underwriting and pricing models for homeowners' products.
• Comoto (Cycle Gear, RevZilla, J&P Cycles, REVER)minorGTM or Marketing PartnerProgressive Insurance is a key industry partner for Comoto's third consecutive 'Airbags Save' campaign for Motorcycle Safety Awareness Month, supporting rider safety initiatives alongside the launch of Cycle Gear's new Safety Hub.
• eFinancial, LLC (Fidelity Life)coreChannel Partner/ Reseller/ DistributorProgressive Advantage Agency refers consumers seeking term, whole, final expense, short-term, and universal life insurance to eFinancial, LLC for placement with insurers offering that coverage. eFinancial's RAPIDecision® Life enables purchase of life insurance with no medical exam. eFinancial and its insurers are not affiliated with Progressive; eFinancial pays PAA compensation that may vary based on the number of applications taken.
• Pets Best (Progressive Pet Insurance by Pets Best)coreOEM/ Whitelabel/ Licensing PartnerProgressive Pet Insurance is provided by Pets Best, allowing customers to create a plan that fits their dog or cat's needs with a customizable deductible, reimbursement percentage, and annual limit.
• Progressive Advantage Agency, Inc. (PAA) insurer networkcoreChannel Partner/ Reseller/ DistributorProgressive Advantage Agency, Inc. (CA Lic #0F50053, TX Lic #1394132) is domiciled in Ohio, principal place of business at 300 North Commons Blvd., Mayfield Village, Ohio 44143. PAA places Progressive Home policies with affiliated and unaffiliated insurers, with compensation varying by insurer, policy, sales volume, and profitability.
• Progressive Life Insurance CompanycoreOEM/ Whitelabel/ Licensing PartnerProgressive Life Insurance Company underwrites term life insurance policies in select states, including a 'flexible term' policy that allows the insured to adjust coverage amount (up or down) within the first 10 years for covered life events such as marriage, divorce, birth, adoption, or home purchase.
• Walmart (Implied via PerkShare®)minorGTM or Marketing PartnerProgressive's PerkShare® program offers special offers on car rentals, moving services, restaurants, and more. The company has also participated in the UpPayment down payment assistance program providing up to $13,500 to first-time homebuyers.
• Mips and AlpinestarsminorGTM or Marketing PartnerKey industry partners supporting Comoto's 'Airbags Save' campaign for Motorcycle Safety Awareness Month alongside Progressive Insurance.

Scale indicators24 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• GEICO: GEICO is Berkshire Hathaway's direct-to-consumer auto insurance subsidiary and Progressive's closest direct competitor in personal auto; both compete on price, mobile-app experience (tied for #1 in Keynova Q1 2026 scorecard), and telematics offerings.
• State Farm: State Farm was the #1 U.S. personal auto insurer until Progressive overtook it in 2025/2026 (18.64% vs 18.60% market share in 2025 NAIC); both compete directly across personal lines including auto, home, and life insurance.
• Allstate: Allstate is a top-five U.S. personal lines insurer with a large exclusive-agent network and comparable auto, home, and life insurance products; competes head-to-head with Progressive on price-positioning and bundled discounts.
• Nationwide Mutual Insurance: Nationwide is a broad-based U.S. P&C and life insurer with personal auto, home, and small-commercial offerings; MoneyGeek ranked it just behind Progressive and GEICO for commercial auto affordability.
• Liberty Mutual Insurance: Liberty Mutual is a global P&C insurer with strong personal lines and commercial lines franchises, competing with Progressive across auto, home, and small-commercial insurance.
• Travelers: Travelers is a major U.S. commercial and personal P&C insurer cited by U.S. News 2026-2027 for low complaints; competes with Progressive on commercial auto and personal home/auto.
• USAA: USAA is a member-only insurer focused on military families and recognized by U.S. News 2026-2027 as Best for Military; competes with Progressive for auto and home insurance customers with strong customer-satisfaction scores.
• Farmers Insurance: Farmers is a top-ten U.S. personal lines insurer distributing through exclusive agents; competes with Progressive across auto, home, and bundled policies.

Broad incumbents

• Chubb: Chubb is a global P&C and specialty insurer with a much broader portfolio than Progressive; overlaps in personal auto and high-net-worth home/umbrella but is dominated by commercial and specialty lines.

Emerging players

• Hippo Holdings: Hippo is an emerging insurtech focused on homeowners insurance that entered a strategic distribution deal (March 2026) with Progressive through Progressive Advantage Agency to distribute across 8 U.S. states via HomeQuote Explorer; complementary rather than directly competing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/progressive
• YouTubeyoutube.com/user/progressive
• Facebookfacebook.com/progressive
• LinkedInlinkedin.com/company/progressive-insurance
• Instagraminstagram.com/progressive
• TikToktiktok.com/@progressive

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Progressive