AI Prospecting for Progressive

Progressive is ending its dwelling fire insurance, affecting non-primary residences and rental properties, to focus on owner-occupied homes and bundling home and auto insurance. Nonrenewal notices began going out as early as November 19[1]. In Texas, Progressive has stopped offering new homeowners' insurance policies due to weather-related volatility and natural disaster risks[3]. The company also reported a significant increase in Q3 net income to $2.3 billion, despite catastrophe losses from Hurricane Helene[2].

In October 2024, Progressive reported strong growth with a 19% increase in net premiums written to $6.57 billion and a 19% rise in net premiums earned to $6.38 billion. Personal auto policies increased by 19% to 23.2 million, and total companywide policies grew by 16% to 34.3 million. Net income saw a modest 1% growth to $408.2 million, while the combined ratio increased by 2.4 points to 94.1[1].

In October 2024, Progressive reported a 19% increase in net premiums written to $6.57 billion and a 19% rise in net premiums earned to $6.38 billion. Personal auto policies increased by 19% to 23.2 million, and total companywide policies grew by 16% to 34.3 million. Net income saw a modest 1% growth to $408.2 million, with the combined ratio increasing by 2.4 points to 94.1[1].