|[December 11, 2012]
Progressive Awarded Sixth Usage-Based Insurance Patent for Snapshot®
MAYFIELD VILLAGE, Ohio --(Business Wire)--
Insurance has been granted a sixth patent related to its usage-based car
insurance program, Snapshot®.
Among other things, U.S. Patent No. 8,311,858 covers a wireless device
that monitors vehicle data used to determine a level of risk, or a cost
of insurance. The patent also addresses an in-vehicle audio alert based
on driving behavior data, which may lead to modification of driver
Progressive's usage-based insurance (UBI) program, Snapshot, gives
drivers a personalized car insurance discount based on their actual
driving behavior. More than one million drivers have participated in
Progressive's UBI program countrywide, which saves drivers an average of
$150 per year.
Progressive recently expanded Snapshot to all drivers-not just
Progressive customers-who, where the program is available, can take a
free test drive of Snapshot, and after 30 days find out whether their
own driving behavior can lower the price they pay for auto insurance.
"We are committed to leading the collection and analysis of real-time
driving data while protecting our intellectual property," said Tom
Hollyer, Progressive's national product development leader. "We are
appreciative that the U.S. Patent Office continues to recognize our
advancements that help us further strengthen our leadership position in
the usage-based insurance field."
Progressive has been the industry leader in the rapidly-expanding
usage-based insurance category for 15 years since it first started
exploring UBI. Snapshot, which accounts for $1 billion in premiums, is
currently available in 43 states and the District of Columbia.
Celebrating its 75th anniversary in 2012, The Progressive
Group of Insurance Companies (collectively, "Progressive Insurance")
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 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).
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