case study analysis on progressive

CASE STUDY ANLAYSIS ON

About ProgressiveCar 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

How did it grow so fast?

OPERATIVE INNOVATIONApproach to auto insurance like ‘no other company had’

FIRST TO PROVIDE

OF CLAIMS

FIRST TO PROVIDE A PRICE COMPARITIVE SHOPPING

First insurance company to provide services

First company to offer

Immediate Response Vehicle

Providing cheaper Insurance through ‘Quote Your Price Tool’

Effective Customer Segmentation

Different sources/variables into calculation

More detailed risk estimation

Extensive and state-of-the-art software

High satisfaction with Immediate Response

Fast service

Excellent Marketing CampaignCreated Iconic character FLO.

Who can be seen across platforms.

Extensive Social Media coverage

Social Media Coverage

Why is FLO effective?Connected with customers

Presence felt that insurance productsare tangible

Various ads projected her as a friend in need.

The following advertisements aptly illustrates it…..

Flo was always up-to-date

How exactly did progressive

?

Average growth of 17% per year &

Increased Market share

What is the future……..

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

A SHORT RECAP 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 ……………..

DISCLAIMER

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