Progressive Insurance has been given a high ranking by Information Week magazine’s Information Week 500 for its “Name Your Price” tool, along with other technology applications.
Although the company has always been ranking on the list for innovative business technology, this is the first time the company has ranked in the top five.
Progressive Name Your Price
Progressive’s “Name Your Price” is the company’s exclusive online tool that allows customers to decide what they would like to pay for on their auto insurance. It works by allowing shoppers to enter basic information about themselves and their vehicles on the company’s website.
Name Your Price Options
After the information is entered, the customer gets to “Name Your Price,” then an available package of coverages, limits and deductibles will be provided closest to the price the customer enters. Customers also have the option of dragging a slider bar from left to right to see how coverage options change based on adjustments in the price they’ve selected.
For auto insurance customers in a financial crunch, an option to name their own price can bring on a sense of freedom and empowerment, which may be why the technology helped the company rank so highly on the list. With families looking for any way possibly to cut back on expenses, comparison-shopping online and looking for discounts are all great ways for customers to get the most bang for their buck.
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