Progressive is an Internet only, low cost insurer for Australian motorists, fully owned by the Progressive Group of Companies (Progressive Group).
Progressive is a new kind of car insurance company for Australia. Launched in 2009, we offer our customers an alternative to traditional car insurance that can save them money and reduce the time and stress of car insurance. By buying and administering their policy 100% online, our customers are able to access a low cost car insurance policy that does not compromise on cover or claims delivery, and offers the convenience of having unrestricted access to their own online car insurance account.
Key Facts About Progressive in Australia
- Launched in 2009
- Holder of an Australian Financial Services License and regulated by the Australian Prudential Regulatory Authority (APRA)
- Progressive is a member of the Financial Ombudsman Services, the Insurance Council of Australia and has adopted the General Insurance Code of Practice
- We adopt a prudent approach to capital management, exceeding APRA's minimum capital requirement and conservatively investing our reserves and capital in cash and bonds only
- As of 31 December 2014, our capital base was $18,663,000, our prescribed capital amount was $9,958,000, and our capital adequacy multiple was 1.87.
- Headquartered in Melbourne, we provide customer service through online communication from our website (see Contact Us), and have a dedicated claims team available 24 hours per day every day
Key Facts About Progressive Group
- Specialist motor insurer established in 1937
- In 1995, we were one of the first major car insurance companies in the world to launch an Internet site, and are now a leader in Internet based motor insurance
- We insure over 10 million motor vehicles each year
- Based in Cleveland, Ohio (USA), we have over 25,000 employees
- Our parent entity, The Progressive Corporation, is listed on the New York Stock Exchange (PGR)