Progressive Insurance® Introduces Purpose-Driven Strategy and Initiatives to Help People Move Forward and Live Fully

Rhea-AI Summary

Progressive Insurance® has unveiled its purpose-driven strategy, declaring 'We exist to help people move forward and live fully.' This initiative builds on the company's long-standing efforts to support customers and communities. The strategy focuses on three key pillars: progress on the road, in the home, and in business.

Key initiatives include:

• The Keys to Progress® program, which has gifted over 1,000 vehicles to veterans since 2012
• Partnerships with organizations like Humble Design to transform homes for the unhoused
• The Driving Small Business Forward grant program to support small business owners

Progressive is also committed to its 60,000+ employees, offering benefits like Volunteer Time Off and the Employee Relief Fund. The company plans to launch new creative content to communicate its brand purpose and commitment to progress.

Positive

• Introduction of a purpose-driven strategy to enhance brand value and customer loyalty
• Continuation and expansion of successful community initiatives like Keys to Progress® and partnerships with Humble Design
• Launch of new programs to support home ownership and small businesses
• Strong employee benefits program including Volunteer Time Off and Employee Relief Fund

Negative

• None.

Insurer's purpose unifies and reaffirms the brand's long-standing efforts to drive progress on the road, in the home, and in business

MAYFIELD VILLAGE, Ohio, Aug. 29, 2024 /PRNewswire/ -- Progressive Insurance^® is building upon its long-standing efforts to support its customers and the communities it serves by introducing its purpose, "We exist to help people move forward and live fully." Since opening its doors in 1937, progress has been in the insurer's name for a reason, leading to a fundamental brand belief that insurance should do more than just protect; it should propel people forward. Progressive's purpose unifies, guides, and builds upon its efforts to drive meaningful and tangible progress on the road, in the home, and in business, all areas where the insurer conducts business.

"Progress is in our company's name and is at the core of guiding the actions we're taking to deliver on our commitment to help people move forward and live fully," said Tricia Griffith, Chief Executive Officer at Progressive. "As a brand that largely leverages humor, we're excited to share more of the heart behind the Progressive story and commit to brand actions that support meaningful and lasting societal impact for customers, consumers, and communities."

The brand purpose will elevate and amplify Progressive's commitments while continuing to champion its long-standing initiatives that cultivate impact across these three key pillars:

• Progress on the road: Building on its founding mission to provide access to affordable insurance to those who couldn't find it elsewhere, Progressive's passion for furthering equity on the road has grown into creating initiatives like the Keys to Progress® veterans' vehicle giveaway program. Since 2012, Progressive has gifted over 1,000 vehicles to veterans in need. Upcoming initiatives in this space include enhancing safety on the road, promoting safety education and more.
• Progress in the home: Knowing the importance home ownership plays in building generational wealth, Progressive is dedicated to furthering solutions that help people get into homes, stay in their homes, and realize the value of their homes. This commitment builds on its history of easing the transition for the unhoused into stable housing, transforming more than 300 homes through its work with Humble Design. Additionally, this year, Progressive has invested in funding for developing innovative solutions to aid in making the dream of home ownership more attainable for everyone.
• Progress in business: Continuing its commitment to offering support to business owners, Progressive remains invested in helping small business owners move forward by offering improved access to capital with its Driving Small Business Forward grant program working with Hello Alice.

"Many people may not know this, but Progressive's founding strategy was to help create access to insurance for an underserved market of people. Protecting and providing access is in our DNA," said Remi Kent, Chief Marketing Officer at Progressive. "On behalf of our leadership team and our people, I'm honored to establish our new purpose—We exist to help people move forward and live fully. The actions we are implementing now in support of our brand purpose build upon Progressive's foundation while we work to accelerate progress for everyone, and we have no doubt that we will be recognized as the first purpose-driven insurance company."

To further its purpose goals, Progressive is building upon its existing work and making meaningful connections in key areas of our consumers' lives by working with organizations and experts across the public and private sectors to actively engage and collaborate on impactful solutions that drive equity and progress.

Alongside efforts to make a positive impact in society, Progressive is equally committed to fulfilling its purpose for the company's 60,000+ employees. Through commitments to integrity in business decisions and employee and customer experience, it's focused on community efforts as well as employee engagement, providing benefits such as Volunteer Time Off, in which employees are allocated time off, with pay, to give back within their communities by volunteering with nearly any 501(c)(3) organization that is meaningful to them. This complements other existing employee benefits including the Employee Relief Fund designed to help those in need, Progressive's active Employee Resource Groups and Name Your Cause® program, which allows each Progressive employee to recommend an eligible charity of their choice to receive a donation from The Progressive Insurance Foundation without the employee having to make an out-of-pocket donation.

As part of its brand purpose communication efforts, Progressive will launch new creative that further underscores its commitment to progress. The TV spot titled "Progress Isn't Overnight" will highlight Progressive's history of doing good, its belief that insurance should do more, and the company's commitment to future actions, partnerships, and impact.

To learn more, visit www.progressive.com/Purpose.

About Progressive

Progressive Insurance^® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price^®, Snapshot^®, and HomeQuote Explorer^®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

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SOURCE Progressive Insurance

FAQ

What is Progressive Insurance's new brand purpose?

Progressive Insurance's new brand purpose is 'We exist to help people move forward and live fully.' This purpose-driven strategy aims to unify and build upon the company's efforts to drive progress in areas where they conduct business: on the road, in the home, and in business.

How many vehicles has Progressive's Keys to Progress® program donated to veterans?

Since 2012, Progressive's Keys to Progress® program has gifted over 1,000 vehicles to veterans in need. This initiative is part of the company's commitment to furthering equity on the road and supporting veterans.

What employee benefits does Progressive (PGR) offer to support its brand purpose?

Progressive (PGR) offers several employee benefits aligned with its brand purpose, including Volunteer Time Off, which allows employees paid time to volunteer with 501(c)(3) organizations, an Employee Relief Fund to help those in need, active Employee Resource Groups, and the Name Your Cause® program for charitable donations.

How is Progressive Insurance supporting small businesses?

Progressive Insurance is supporting small businesses through its Driving Small Business Forward grant program. This initiative, in partnership with Hello Alice, aims to improve access to capital for small business owners, helping them move forward and grow their businesses.