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FINANCE | Insurance / Other Insurance
progressive.com

Investments

2

Partners & Customers

10

Service Providers

1

About Progressive

Progressive makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever and however it's most convenient-online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent. Progressive also offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, as well as home insurance through select carriers. It's the fourth largest auto insurer in the country, the largest seller of motorcycle insurance and a leader in commercial auto insurance.

Headquarters Location

6300 Wilson Mills Road

Cleveland, Ohio, 44143,

United States

855-559-8728

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Expert Collections containing Progressive

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Progressive in 1 Expert Collection, including Fortune 500 Investor list.

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

Latest Progressive News

State Farm, Progressive refuse coverage for two major auto brands

Jan 27, 2023

| Insurance Business America US auto insurance giants State Farm and Progressive have revealed that they are now refusing to provide coverage for Hyundai and Kia vehicles over major concerns that certain automobiles are easily targeted by car thieves. Over the past year, thefts of vehicles produced by the two Korean automakers have seen a sharp increase. It was found that certain automobiles from the two brands that use physical ignition keys can be easily fired up and driven away while only using a USB cable. The theft is so easy to do, that there is even a YouTube channel hosting popular videos showing how the theft is done. The auto theft cases surrounding Hyundai and Kia cars have become so severe, that even the National Insurance Crime Bureau recently turned to petitioning YouTube to take down video tutorials showing how easy it is to break into the cars. With the theft cases still on the rise, both Progressive and State Farm have begun refusing insurance coverage for Hyundai and Kia cars – particularly in cities where the problem is at its worst, such as Columbus, OH and Denver, CO. Driving news website The Drive reported that several news outlets in those cities have independently confirmed that Kia and Hyundai owners have been denied coverage – even if their vehicles do not have physical ignition keys. A spokesperson for Progressive confirmed in a statement to The Drive that it was no longer issuing new insurance policies to “some” Hyundai and Kia vehicles. "Due to the theft risk that some Hyundai and Kia vehicles present, in many cases it makes these vehicles difficult to insure, so in certain areas of the country we have adjusted our acceptance criteria for new business (there is no change for existing customers) on some of these models," the representative said. "We’ll continue to monitor how this issue plays out and are hopeful to be able to revisit our decision as the theft risk diminishes and community awareness improves." The Drive also reached out to State Farm for a statement, and the insurer pointed the news website to crime and insurance rate resources – it has been assumed that the insurer wanted the driving portal to conclude that some Hyundai and Kia cars are uninsurable. Both Hyundai and Kia were also reached out for comment, and the two sent similar statements saying that they “regretted” the decision made by the two insurers. Are State Farm and Progressive justified in denying insurance coverage for Hyundai and Kia cars? Let us know your thoughts in the comment section below. Related stories:

Progressive Investments

2 Investments

Progressive has made 2 investments. Their latest investment was in Varo Bank as part of their Series D on June 6, 2020.

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Progressive Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/3/2020

Series D

Varo Bank

$241M

Yes

14

12/17/2014

Corporate Minority

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10

Date

6/3/2020

12/17/2014

Round

Series D

Corporate Minority

Company

Varo Bank

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Amount

$241M

New?

Yes

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Co-Investors

Sources

14

10

Progressive Acquisitions

1 Acquisition

Progressive acquired 1 company. Their latest acquisition was Protective Insurance on February 16, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/16/2021

$99M

Acquired

8

Date

2/16/2021

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

8

Progressive Partners & Customers

10 Partners and customers

Progressive has 10 strategic partners and customers. Progressive recently partnered with Zendrive on January 1, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

1/24/2023

Partner

United States

Zendrive announces the addition of Progressive Insurance to its Insurance Qualification Lens (IQL) program

`` At Zendrive , we 're thrilled about extending our Insurance Qualification Lens program to millions of US consumers through our relationships with Progressive and consumer apps like MoneyLion , Pogo , and Coin , potentially rewarding users for their safe driving habits , '' said Dennis Ellis , President of Zendrive .

2

12/6/2022

Partner

United States

14:15 ET Lavalier® Personal Jewelry Insurance Partners with Progressive Insurance® to Offer Best-in-Class Jewelry Coverage

NEW YORK , Dec. 6 , 2022 / PRNewswire / -- Lavalier ® Jewelry Insurance is pleased to announce it 's partnering with Progressive ® to provide customers with affordable , comprehensive insurance for their most precious jewels .

1

1/13/2022

Sponsored

United States

09:00 ET Immortals and Progressive Insurance℠ Announce Multi-Year League of Legends Naming Rights Deal

DETROIT , Jan. 13 , 2022 / PRNewswire / -- Immortals , a Great Lakes-based gaming and esports organization , and Progressive , the third largest auto insurer in the country , have officially announced an exclusive , multi-year entitlement agreement .

2

10/31/2021

Partner

United States

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0

9/13/2021

Partner

United States

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10

Date

1/24/2023

12/6/2022

1/13/2022

10/31/2021

9/13/2021

Type

Partner

Partner

Sponsored

Partner

Partner

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Zendrive announces the addition of Progressive Insurance to its Insurance Qualification Lens (IQL) program

`` At Zendrive , we 're thrilled about extending our Insurance Qualification Lens program to millions of US consumers through our relationships with Progressive and consumer apps like MoneyLion , Pogo , and Coin , potentially rewarding users for their safe driving habits , '' said Dennis Ellis , President of Zendrive .

14:15 ET Lavalier® Personal Jewelry Insurance Partners with Progressive Insurance® to Offer Best-in-Class Jewelry Coverage

NEW YORK , Dec. 6 , 2022 / PRNewswire / -- Lavalier ® Jewelry Insurance is pleased to announce it 's partnering with Progressive ® to provide customers with affordable , comprehensive insurance for their most precious jewels .

09:00 ET Immortals and Progressive Insurance℠ Announce Multi-Year League of Legends Naming Rights Deal

DETROIT , Jan. 13 , 2022 / PRNewswire / -- Immortals , a Great Lakes-based gaming and esports organization , and Progressive , the third largest auto insurer in the country , have officially announced an exclusive , multi-year entitlement agreement .

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Sources

2

1

2

0

10

Progressive Service Providers

1 Service Provider

Progressive has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

BakerHostetler

Acquired

Other

General Counsel

Service Provider

BakerHostetler

Associated Rounds

Acquired

Provider Type

Other

Service Type

General Counsel

Partnership data by VentureSource

Progressive Team

6 Team Members

Progressive has 6 team members, including current Founder, Chief Executive Officer, President, Dawn McCollough.

Name

Work History

Title

Status

Dawn McCollough

Founder, Chief Executive Officer, President

Current

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Name

Dawn McCollough

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Work History

Title

Founder, Chief Executive Officer, President

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Status

Current

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Compare Progressive to Competitors

S
State Farm Insurance Companies

State Farm Insurance offers coverage for auto, life, home, health, and more. It also offers mutual funds, banking, loans, and credit cards. The company was founded in 1922 and is based in Bloomington, Illinois.

Stable Insurance Logo
Stable Insurance

Stable Insurance offers a distribution and analytics platform for consumers of commercial auto insurance. Stable focuses on the rideshare and on-demand economy/mobility segment of the commercial auto space. It allows customers to quickly get a policy for any vehicle in their fleet and offers risk analytics to better understand their risk profile. Stable Insurance will be moving to Hartford from New York City.

A
Assureful

Assureful is an insurance company that provides a range of insurance products and services for e-commerce businesses. The company provides smart insurance for private label brands, retail arbitrage, resellers, wholesalers, aggregators, and more. It was founded in 2020 and is based in Spokane, Washington.

Zendrive Logo
Zendrive

Zendrive is using data and insights to empower drivers to make better driving-related decisions and to make time spent on the road a fun and rewarding experience.

Amwins Logo
Amwins

Amwins (American Wholesale Insurance Group) is a wholesale distributor of specialty insurance products and services with expertise across a diversified mix of property, casualty, and group benefits products. Amwins also offers value-added services to support some of these products, including product development, underwriting, premium and claims administration, and actuarial services. Amwins operates in four divisions: Brokerage, Underwriting, Group Benefits, and International.

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Foxquilt

Foxquilt is a financial technology company focused on using big data and machine learning to empower social groups to save on home, small business, and auto insurance.

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