Drive Insurance from Progressive Signs Joint Marketing Agreement with Homesite Insurance Group
Drive agents can make monoline homeowners product available to their Drive customers using streamlined technology
MAYFIELD VILLAGE, Ohio — Aug. 16, 2006 — Drive Insurance from Progressive, the largest writer of auto insurance through independent agents and brokers in the U.S., has signed a joint marketing agreement with Homesite Insurance Group, a national provider of home insurance products. The agreement paves the way for a test that will allow selected Drive agents in three states — Ohio, Pennsylvania and Oregon — to provide their Drive auto insurance customers quotes for homeowners, renters and condo insurance policies underwritten and serviced by Homesite.
In the test, independent agents will use Drive's ForAgentsOnly.com (FAO) Web site to provide eligible customers with homeowners product quotes, leveraging existing state-of-the-art technology and making the transaction of selling two monoline policies — auto and home — seamless and easy. New or existing Drive Insurance customers are eligible for a homeowners quote from Homesite if they have prior auto coverage without a lapse and at least 100/300 liability limits.
Drive and Homesite will work together to identify a hand-selected group of about 150 agents in the three states to whom this program will be offered. Drive agents will sign an agency agreement and will be appointed by Homesite; the agent is then the agent of record and owns expiration rights to policies sold.
"It is our goal to make the Drive brand a 'must-have' for all growing, successful independent agencies," said Sharena Ali, product manager, Drive. "Providing agents with more flexibility in packaging home and auto policies and leveraging existing easy-to-use technology can help us to solidify our core position in their offices and give us an additional opportunity to grow together with them."
The three-state test will launch in late 2006; if the test is successful, that is, it helps Drive agents sell more Drive policies, further rollout may happen in 2007.
"We are excited about this opportunity," said Fabian Fondriest, CEO, Homesite. "As a monoline home insurer with technology that is highly compatible with Drive's, we look forward to providing packaged home policies with the ease-of-use that Drive agents have come to expect."
About Drive Insurance from Progressive:
The Progressive Group of Insurance Companies, in business since 1937, provides drivers with competitive rates and superior claims and customer service. The products and services of the Drive Group of Progressive Insurance Companies are marketed to consumers under the Drive Insurance from Progressive brand through more than 30,000 independent insurance agencies in the U.S. Progressive companies using the Drive brand make up a group that is the largest writer of auto insurance through independent agents and brokers in the U.S., based on premiums written. Drive is also a leading writer of commercial auto, motorcycle, boat and RV insurance. Agents and brokers can log in to ForAgentsOnly.com to get an at-a-glance summary of everything they need to manage and grow their Drive business, including referrals, quotes, customer policy information, state and countrywide news and more. For more information, to find a Drive agent, or to get a quote, go to www.driveinsurance.com. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at NYSE:PGR.
About Homesite:
Founded in 1997, the Homesite Insurance Group focuses exclusively on the homeowners market. Homesite writes homeowners, condominium owners, and renters insurance policies in 46 states and the District of Columbia. Homesite brings expertise in risk pricing and catastrophe management, cutting-edge technology, and innovative marketing and distribution strategies to the home insurance business.
