Since our beginning in 1937, the Progressive Group of Insurance Companies has been an innovator. We've grown into new markets and pioneered new ways to meet consumers' needs, including offering competitive rates and initiating 24-hour, in-person and online services. As a result, we are the third largest U.S. private passenger auto insurance group, with annual premiums over $14 billion.
Progressive's vision is to reduce the human trauma and economic costs associated with automobile accidents. We do this by providing our customers with services designed to help them get their lives back in order again as quickly as possible.
Governing our vision, decisions and behavior are our Core Values — pragmatic statements of what works best for us in the real world.
We revere honesty. We adhere to the highest ethical standards, provide timely, accurate and complete financial reporting, encourage disclosing bad news and welcome disagreement.
We respect all people, value the differences among them and deal with them in the way we want to be dealt with. This requires us to know ourselves and to try to understand others.
We strive to communicate clearly Progressive's ambitious objectives and our people's personal and team objectives. We evaluate performance against all these objectives.
We strive constantly to improve in order to meet and exceed the highest expectations of our customers, shareholders and people. We teach and encourage our people to improve performance and to reduce the costs of what they do for customers. We base their rewards on results and promotion on ability.
The opportunity to earn a profit is how the competitive free-enterprise system motivates investment to enhance human health and happiness. Expanding profits reflect our customers' and claimants' increasingly positive view of Progressive.