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Generali and Progressive Announce Telematics R&D Agreement | Business Wire

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TRIESTE, Italy & MAYFIELD VILLAGE, Ohio–(BUSINESS WIRE)–The Generali Group and The

Progressive Group of Insurance Companies, among the world leaders in

car insurance telematics, entered into an R&D collaboration to improve

their individual data analytics capabilities and foster product offering.

Thanks to this agreement the two groups will share knowledge in

telematics to benefit from synergies of scope, scale and expertise.

Leveraging their experience as the leaders in the markets in which they

operate, Generali and Progressive will further innovate their behavioral

profiling systems to explore a new generation of customized car

telematics solutions which will reward safer drivers, helping them to

improve their driving through personalized customer feedback.

Valter Trevisani, Chief Insurance Officer of Generali, said: “The

collaboration with Progressive allows Generali to accelerate the

execution of the strategy in regards to Connected Insurance and advanced

analytics. Joining forces with a leading player like Progressive will

enable a further step in sophistication of our product offering and data

analytics capabilities, to support an additional improvement of our

technical performance.”

Pat Callahan, Personal Lines President of Progressive Insurance,said:

Progressive pioneered telematics usage in the US auto insurance

marketplace, and we’re constantly striving for customer-centric

improvements to those capabilities. Consumers continue to opt into our

voluntary Snapshot program with increasing frequency and we know that

key driving behaviors – like actual miles driven, braking, and time of

day of driving – can carry more than twice the predictive power of

traditional insurance rating variables, like a driver’s demographic

profile, and the year, make and model of the insured vehicle.

Collaborating internationally with Generali allows us to further expand

and deepen our customer insights in order to help safer drivers save

even more money through our Snapshot program.”

In Europe Generali has a leading position in car telematics and in

Italy, in 2011, it was the forerunner in introducing a pay-how-you-drive

solution with Genertel, the Group direct insurance company.

Generali has more than 1 million policies concentrated in Italy with a

wide range of solutions tailored to serve different customer segments

varying from mileage-based to behavioral ones and sold both by agents

and direct channels. In mid-2015 Generali acquired full control of

MyDrive Solutions, an English start-up founded in 2010, among the

leading companies in the use of data analytics tools to profile driving

styles with the aim of identifying innovative and tailor-made products

for the customers and favorable tariffs for low risk drivers.

Progressive is the US leader in usage-based insurance. Since introducing

the first wireless telematics device in 2008, more than 4 million

drivers have tried Snapshot and during that time Progressive has

collected more than 15 billion miles of driving data. Snapshot is a

voluntary discount program in which drivers can save money on their car

insurance by sharing a picture of their driving habits with Progressive.

People who drive less, in safer ways and during safer times of day are

most likely to get a discount.

ABOUT THE GENERALI GROUP

The Generali Group is one of the largest global insurance providers with

2015 total premium income of more than €74 billion. With above 76,000

employees in the world serving 55 million clients, present in over 60

Countries, the Group has a leading position in Western European

Countries and an ever more significant presence in the markets of

Central and Eastern Europe and in Asia. In 2015, Generali was the sole

insurance company included among the 50 smartest companies in the world

by the MIT Technology Review.

ABOUT PROGRESSIVE

The Progressive Group of Insurance Companies makes it easy to

understand, buy and use auto insurance. Progressive offers choices so

consumers can reach it whenever, wherever and however it’s most

convenient—online at progressive.com, by phone at 1.800.PROGRESSIVE, on

a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and

trucks, motorcycles, boats, recreational vehicles, and homes. Home

insurance is underwritten by select carriers, including its

majority-owned subsidiary, American Strategic Insurance (ASI).

Progressive is the fourth largest auto insurer in the country; a leading

seller of motorcycle and the #1 insurer of commercial auto insurance;

and through ASI, one of the top 20 homeowners carriers. Progressive also

offers car insurance online in Australia at http://www.progressiveonline.com.au.

Founded in 1937, Progressive continues its long history of offering

shopping tools and services that save customers time and money, like

Name Your Price®, Snapshot®, and Service Centers.

The Common Shares of The Progressive Corporation, the Mayfield Village,

Ohio-based holding company, trade publicly at (NYSE:PGR).

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