Latest news with #Snapshot
Yahoo
4 days ago
- Automotive
- Yahoo
Tech Innovations to Power Progressive's Growth in Auto Insurance?
Progressive Corporation PGR stands out as a technology-driven leader in the insurance industry, using innovation to streamline operations, enhance customer service and keep pricing competitive. This leader in auto insurance is actively investing in generative AI to refine policy pricing and identify new growth opportunities. Its Snapshot telematics program, powered by machine learning and big data analytics, enhances personal auto rating accuracy by aligning pricing with individual driving behavior. This approach enhances risk segmentation, promotes safer driving, reduces claims and boosts profitability. Some other UBI options, like Smart Haul and Snapshot ProView, provide commercial auto customers with value-added services to encourage safe advanced digital platforms allow customers to manage policies, file claims and obtain quotes seamlessly through mobile apps and online portals, while AI-powered chatbots and virtual assistants improve efficiency and response times. These capabilities strongly appeal to younger, tech-oriented customers, boosting both retention and acquisition rates. In claims management, predictive analytics accelerates processing, enhances fraud detection, lowers costs and enhances customer U.S. auto insurance industry is poised to grow on increased awareness of the need for insurance, technological advancements, evolving car ownership trends, rising cost of ownership and the rise of online platforms. Thus, through sustained investment in advanced technology, Progressive adapts rapidly to market changes, reaches a broader audience and protects profitability in competitive conditions. With ongoing advances in AI and analytics, Progressive is well-positioned to refine underwriting precision, increase market penetration and drive long-term growth. What About PGR's Peers? Travelers Companies TRV leverages AI, IoT, data analytics, and cloud computing to improve underwriting, claims, customer service and risk management. Travelers commits over $1 billion annually to technology, reinforcing innovation and efficiency. With this investment, Travelers aims to advance capabilities and strengthen its competitive edge in the insurance Corporation ALL uses AI, telematics, and predictive analytics to refine underwriting, speed up claims and offer personalized pricing. Allstate's mobile platforms and digital tools boost engagement and loyalty. Through continuous tech investment, Allstate enhances efficiency, sharpens its competitive edge and drives sustainable growth in the dynamic insurance market. PGR's Price Performance Shares of PGR have gained 2.7% year to date, underperforming the industry. Image Source: Zacks Investment Research PGR's Expensive Valuation PGR trades at a price-to-book value ratio of 4.37, above the industry average of 1.43. But it carries a Value Score of B. Image Source: Zacks Investment Research Estimates for PGR Witness Northward Movement The Zacks Consensus Estimate for PGR's third-quarter and fourth-quarter 2025 EPS has moved up 5.3% and 2.9%, respectively, over the past 30 days. The same for full-year 2025 and 2026 has increased 5.1% and 3.2%, respectively. Image Source: Zacks Investment Research The consensus estimates for PGR's 2025 revenues and EPS indicate year-over-year increases. While the consensus estimate for 2026 revenues indicates a year-over-year increase, the same for EPS indicates a year-over-year decline. PGR stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report The Allstate Corporation (ALL) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
16-07-2025
- Automotive
- Yahoo
Progressive Reports June 2025 Results
MAYFIELD VILLAGE, OHIO, July 16, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended June 30, 2025: June Quarter (millions, except per share amounts and ratios; unaudited) 2025 2024 Change 2025 2024 Change Net premiums written $ 6,605 $ 5,749 15 % $ 20,076 $ 17,902 12 % Net premiums earned $ 6,954 $ 5,777 20 % $ 20,310 $ 17,209 18 % Net income $ 1,124 $ 803 40 % $ 3,175 $ 1,459 118 % Per share available to common shareholders $ 1.91 $ 1.37 40 % $ 5.40 $ 2.48 118 % Total pretax net realized gains (losses) on securities $ 179 $ 22 NM $ 387 $ (127) (405) % Combined ratio 86.6 86.2 0.4 pts. 86.2 91.9 (5.7) pts. Average diluted equivalent common shares 588.0 587.4 0 % 587.8 587.4 0 % NM = Not Meaningful June 30, (thousands; unaudited) 2025 2024 % Change Policies in Force Personal Lines Agency – auto 10,423 8,965 16 Direct – auto 15,245 12,576 21 Special lines 6,850 6,312 9 Property 3,608 3,339 8 Total Personal Lines 36,126 31,192 16 Commercial Lines 1,189 1,118 6 Companywide 37,315 32,310 15 See Progressive's complete monthly earnings release, including the 'Monthly Commentary,' for additional information. 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 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. Company Contact: Douglas S. Constantine(440) 395-3707investor_relations@ The Progressive Corporation 300 North Commons Village, Ohio 44143http:// Download PDF: Progressive June 2025 Complete Earnings ReleaseSign in to access your portfolio
Motor 1
15-07-2025
- Automotive
- Motor 1
'Got A+ Rating and Took $20 Off:' Texas Woman Starts Driving With Progressive's Car Monitor. Then She Issues a Warning
A woman's vow to never again be yelled at by her Progressive insurance car monitor was tested sooner than she thought. And she's not the only one irritated by the device. TikTok user Carissa ( @chaoticallycarissa ) posted a video venting her frustration on June 12. Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . The video starts with Carissa pointing the camera at the Progressive Snapshot device plugged into her car. "If this lady yells at me one more time,' she says, before turning the camera around to display her annoyed expression. 'Ha ha. I'm gonna lose it.' The second clip is presumably right after 'this lady' yelled at Carissa again. 'Well, that didn't last long,' she says. 'If you know, you know. Suck it, Progressive." In the caption, she writes, 'It was real, but it wasn't real fun.' What Is the Progressive Snapshot? The Snapshot program is a device that plugs into a car's OBD-II port and determines a policy adjustment based on how you drive. It's what you call a telematics system, which uses GPS to track your vehicle's activities. That means Progressive will have access to the vehicle's driving data, including speeds, trip time, and hard brakes. Trending Now 'Did You Drive Off The Lot?:' Woman Gets Buyer's Remorse After Signing Car Paperwork. Now She Wants to Know If She Can 'Cancel' 'It's Bad:' Los Angeles Woman Heads to Her Mercedes Benz In Parking Lot. Then Firefighters Stop Her Drivers get an automatic discount at signup, which averages about $231, Progressive reports. If the driver is deemed safe by the Snapshot device, the average savings on their next policy is purportedly approximately $322. Customers can monitor their progress via a mobile app, but the Snapshot device also beeps to let drivers know that they've committed a hard brake. The fewer the beeps as they drive, the bigger the discount at the end of your policy period. To avoid these beeps, Progressive recommends driving more slowly, avoiding night driving, staying off your phone, and driving less overall. Of course, some users (like Carissa) might choose another option: Opting out of the program altogether. Viewers Weigh in on Snapshot In the comments section of the video, viewers took the opportunity to vent their own frustrations about the Progressive Snapshot program. "THAT THING KNEW WHEN I GOT ON MY PHONE," wrote one former program participant. "Got an A+ rating and it took $20 off of my insurance for six months of beeping," wrote a second. "Not worth it." Another person said, "I've never had one because it's not my insurance company's business to know my every move." One person defended the program. "Y'all act like it was mandatory," they wrote. "Y'all signed up voluntarily. So stop complaining." Does Progressive Snapshot Save You Money? According to Bankrate , the Snapshot program does provide drivers with the opportunity to save money on their insurance premiums. But the criticism from the commenters comes from a real place: Approximately 20% of Snapshot drivers actually see an increase in their premiums because of their driving habits, per Bankrate. So it's really up to the individual driver to determine whether they can commit to not slamming on their brakes, abstain from late-night driving, limit mileage, and eliminate speeding and cell phone usage. If they can't, they might want to follow Carissa's lead and forget about Snapshot. Motor1 reached out to Carissa via TikTok comment and direct message for comment. We also reached out to Progressive via email for comment. We'll update this if either responds. More From Motor1 'Her Insurance Card Is on Her Phone:' Range Rover Driver Gets Rear-Ended. Then the Person Tries to 'Gaslight' Her Over Damage Ford Will Cut You a Check If Your F-Series Truck is Stolen Allstate Allegedly Paid Smartphone App Developers to Track You You're Not Going Crazy. Auto Insurance Rates Are Skyrocketing Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Yahoo
18-06-2025
- Automotive
- Yahoo
Progressive Reports May 2025 Results
MAYFIELD VILLAGE, OHIO, June 18, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended May 31, 2025: May (millions, except per share amounts and ratios; unaudited) 2025 2024 Change Net premiums written $ 6,634 $ 5,975 11 % Net premiums earned $ 6,715 $ 5,857 15 % Net income $ 1,065 $ 235 353 % Per share available to common shareholders $ 1.81 $ 0.40 352 % Total pretax net realized gains (losses) on securities $ 211 $ 118 79 % Combined ratio 86.9 100.4 (13.5 ) pts. Average diluted equivalent common shares 587.7 587.4 0 % May 31, (thousands; unaudited) 2025 2024 % Change Policies in Force Personal Lines Agency – auto 10,341 8,869 17 Direct – auto 15,089 12,383 22 Special lines 6,787 6,248 9 Property 3,601 3,305 9 Total Personal Lines 35,818 30,805 16 Commercial Lines 1,184 1,114 6 Companywide 37,002 31,919 16 See Progressive's complete monthly earnings release, including the 'Monthly Commentary,' for additional information. 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 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. Company Contact: Douglas S. Constantine(440) 395-3707investor_relations@ The Progressive Corporation 300 North Commons Village, Ohio 44143http:// Download PDF: Progressive May 2025 Complete Earnings ReleaseError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Automotive
- Yahoo
Progressive Reports April 2025 Results
MAYFIELD VILLAGE, OHIO, May 21, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended April 30, 2025: April (millions, except per share amounts and ratios; unaudited) 2025 2024 Change Net premiums written $ 6,837 $ 6,178 11 % Net premiums earned $ 6,641 $ 5,575 19 % Net income $ 986 $ 421 134 % Per share available to common shareholders $ 1.68 $ 0.72 134 % Total pretax net realized gains (losses) on securities $ (3 ) $ (267 ) (99 ) % Combined ratio 84.9 89.0 (4.1 ) pts. Average diluted equivalent common shares 587.7 587.4 0 % April 30, (thousands; unaudited) 2025 2024 % Change Policies in Force Personal Lines Agency – auto 10,246 8,720 18 Direct – auto 14,938 12,105 23 Special lines 6,705 6,153 9 Property 3,590 3,261 10 Total Personal Lines 35,479 30,239 17 Commercial Lines 1,174 1,108 6 Companywide 36,653 31,347 17 See Progressive's complete monthly earnings release for additional information. 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 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. Company Contact: Douglas S. Constantine (440) 395-3707investor_relations@ The Progressive Corporation 300 North Commons Blvd. Mayfield Village, Ohio 44143http:// Download PDF: Progressive April 2025 Complete Earnings ReleaseError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
