The Progressive Corporation – Digital Transformation Strategies
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Progressive Corporation Digital Transformation Strategies Report Overview
The Progressive Corporation is tapping into key disruptive technologies, including AI, big data, insurtech, and Internet of Things (IoT), among others, to digitally transform its operations. The annual ICT spending of The Progressive Corporation is estimated at $2.2 billion for 2022. A major share of this spending is earmarked for acquiring software, hardware, and ICT services from vendors. The Progressive Corporation (Progressive) is a holding company comprising insurance and non-insurance subsidiaries and affiliates. It has three operating segments, namely its personal lines, commercial lines, and property segments. The personal lines segment provides insurance for personal recreational vehicles and personal automobiles. The commercial lines segment provides business-related general liability and property insurance, workers’ compensation insurance, and auto-related liability and physical damage insurance. The property segment offers residential property insurance for homeowners and tenants. In 2022, Progressive’s personal lines segment was the largest operating segment followed by the property segment. Progressive operates across the US through independent agencies and direct distribution channels.
Total ICT Spending 2022 | $2.2 billion |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | AI, big data, insurtech, IoT, fintech, future of work, cyber insurance, and innovation. |
The Progressive Corporation Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies; technology focus areas; technology partnerships; technology introductions; investments; and ICT spending among others.
Digital Transformation Strategies
Progressive has deployed over half a dozen bots to answer customer queries regarding insurance quotes or their insurance plans. To further simplify the development, launch, management, and maintenance of new and existing bots and to equip them with neural voice and various other advanced AI capabilities, Progressive has begun utilizing Microsoft Azure Cognitive Services.
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The Progressive Corporation Technology Theme Focus
Progressive is strengthening its focus on the use of key disruptive technologies to enhance its business operations and service offerings. To do so, it is tapping into key disruptive technologies including AI, big data, insurtech, and IoT, among others.
The Progressive Corporation Technology Focus
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The Progressive Corporation Technology Initiatives
Progressive has been involved in several strategic technology partnerships and collaborations, technology roll outs. technology investments and acquisitions over the past few years. For instance, in 2023, the company entered into a partnership with Zendrive, a telematics company based in the US, to reward safe drivers with discounted auto insurance premiums.
For more insights on other technology initiatives of Progressive, download a free report sample
The Progressive Corporation ICT Spend by Function
- Data center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
The Progressive Corporation ICT Spend by Function, 2022(%)
For more insights on ICT spending by function, download a free report sample
The Progressive Corporation ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
The Progressive Corporation ICT Spend by Channel, 2022(%)
For more insights on ICT spending by channel, download a free report sample
The Progressive Corporation External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
The Progressive Corporation External ICT Spend by Segment, 2022(%)
For more insights on external ICT spending by segment, download a free report sample
Scope
This report provides:
- Insight into Progressive’s technology activities.
- Overview of technology initiatives covering partnerships, technology introductions, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Progressive’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, technology introductions, and investments.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Progressive in 2022?
The annual ICT spending of Progressive was estimated at $2.2 billion in 2022.
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Which was the key ICT spending category by function for Progressive?
Data center was the key ICT spending category by function for Progressive in 2022.
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Which was the key ICT spending category by channel for Progressive?
Internal development and maintenance was the key ICT spending category by channel for Progressive in 2022.
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Which was the key ICT spending category by segment for Progressive?
Software (including cloud SaaS) was the key ICT spending category by segment for Progressive in 2022.
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What are the key technology themes in focus for Progressive?
The key technological theme in focus for Progressive are AI, big data, insurtech, IoT, fintech, future of work, cyber insurance, and innovation.
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