Ethisphere Institute Names Progressive to List of World’s Most Ethical Companies

Progressive’s 75^th anniversary marked by commitment to innovation, honesty and transparency

MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)-- A commitment to innovation, transparency and monthly financial reporting are just some reasons that prompted the Ethisphere Institute to name Progressive auto insurance to its list of the World's Most Ethical Companies.

The World's Most Ethical Companies list honors organizations that show leadership in promoting consistent ethical business standards. Companies are selected based on their corporate citizenship, governance, reputation, leadership, innovation and their ethics and compliance program.

Progressive’s Core Values serve as the foundation for its culture of innovation, empowerment and transparency.

“At Progressive, fair dealing and transparency are synonymous with our way of conducting business,” said Progressive's Chief Executive Officer, Glenn Renwick. “We have a culture that embraces innovation, risk taking, excellence and doing the right thing for our customers, agents, employees and investors. We revere honesty and transparency, and reinforce it in everything we do. That’s crucial to be the company we strive to be.”

One of the most tangible examples of Progressive’s commitment to transparency is its financial reporting schedule. Every publicly traded company is required to report financial results on a quarterly basis. But, in 2003, Progressive became the first, and still only, public company to report full monthly financials to ensure frequent communication with investors and analysts.

“A strong ethical foundation is a competitive advantage, and Progressive recognizes the important role corporate responsibility plays in improving its bottom line,” said Alex Brigham, executive director of the Ethisphere Institute. “As more and more organizations strive for this honor each year, Progressive’s inclusion as a World’s Most Ethical Company for 2012 demonstrates its industry-leading commitment to ethics and dedication to integrity.”

Progressive Firsts

Progressive also has a long-standing culture of innovation and superior customer service. Among its long list of industry breakthroughs, Progressive was the first to:

• Provide claims service at the scene of an accident.
• Sell auto insurance online.
• Offer Name Your Price^®, an innovative, easy-to-use online tool that helps customers choose the coverage package they want at a price that fits their needs and budget.
• Offer a concierge level of claims service, an option that handles every aspect of a car’s repair.

Progressive also created Snapshot^®, an optional Pay As You Drive^® insurance discount program that gives customers more control over their car insurance costs. With Snapshot, customers can save up to 30 percent on their car insurance based on their driving habits.

In addition, Progressive is committed to social responsibility by building a sustainable business that provides a stable market for agents, employees and customers.

About Progressive

The Progressive Group of Insurance Companies makes it easy to understand, buy, and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever, and however it’s most convenient for them—online at progressive.com, by phone at 1-800-PROGRESSIVE, or in-person with a local agent.

Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. It’s the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price^®, the Snapshot Discount^®, and a concierge level of claims service.

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

Progressive PR
Brittany Senary, 440-395-7249
[email protected]

Source: Progressive