Ethisphere Institute names Progressive as a 2013 World’s Most Ethical Company

Progressive is honored for the second year in a row for its commitment to innovation, honesty and transparency

MAYFIELD VILLAGE, Ohio–(BUSINESS WIRE)– A track record of commitment to innovation, transparency and monthly financial reporting are just some reasons that prompted the Ethisphere Institute to name Progressive to its list of the World’s Most Ethical Companies for the second year in a row.

The World’s Most Ethical Companies list honors organizations that lead their industry for promoting consistent ethical business standards. Companies are selected based on their ethical leadership, compliance practices and corporate social responsibility.

Progressive’s Core Values are the foundation for its culture of innovation, empowerment and transparency.

“Our culture and everyday focus on our Core Values is something we take very seriously, from our executive team to our more than 26,000 employees,” said Progressive’s Chief Executive Officer, Glenn Renwick. “We have high standards, and while we may not get everything right every time, our Core Values provide a critical litmus test for all we do and any adjustments we must make. We’re proud of how we’ve pushed our industry forward, but equally proud of the respectful way we treat customers, agents, employees and investors. We’re always looking to be better—to be Progressive.”

Progressive Firsts

One of the most tangible examples of Progressive’s transparency is its financial reporting schedule. Every publicly traded company is required to report financial results quarterly. In 2003, Progressive became the first, and still only, public company to report full monthly financials to ensure frequent communication with investors and analysts.

Progressive has a long-standing culture of innovation and superior customer service, including:

• Snapshot®, an optional usage-based insurance program that gives customers personalized discounts off their auto insurance policy based on their good driving habits. Progressive has found that adding key driving behaviors—like actual miles driven, braking, and time of day of driving—are more predictive of claims behavior than traditional insurance rating variables alone.
• Service Centers that enable customers to drop off their damaged car and pick up a rental, …read more

  Source: FULL ARTICLE at DailyFinance