Commercial lines president shares reasoning behind the move
Progressive Insurance has announced a rebrand for its large fleet commercial line coverage, which previously went by the name of a business it had acquired.
The product that was known as Protective Insurance will now be named Progressive Fleet & Specialty Programs, the insurance giant said in a news release, as part of a strategic integration of businesses following the 2021 acquisition of Protective Insurance Corporation.
According to the release, the new Progressive Fleet brand aims to showcase Progressive’s expanded expertise in large fleet transportation and niche insurance programs targeting those in the transportation and delivery industries.
“This announcement was part of our strategy when we first acquired Protective almost three years ago,” said commercial lines president Karen Bailo. “Our vision has come to fruition with this announcement enabling us to promote our full suite of capabilities in the transportation market.”
Prior to Progressive’s acquisition, Protective Insurance had a decades-long history in marketing and underwriting insurance products focused on the transportation industry.
Progressive completed its swoop for Protective Insurance in June 2021. The transaction was valued at $338 million, according to a previous release.
“We look forward to joining as one team and profitably growing the business together,” Bailo said of the deal in 2021. “For now, we’ll all remain focused on providing our customers, partners and clients with the exceptional service they expect and deserve, as we work towards making decisions on how to best integrate and operate our businesses to provide greater opportunities for growth.”
What are your thoughts on this story? Feel free to share your comments below.
Keep up with the latest news and events
Join our mailing list, it’s free!
#Progressive #unveils #rebrand #commercial #fleet #product