Progressive Casualty Insurance Company, Allstate, Allianz is Dominating the Market for Global Usage Based Insurance Market in 2018

PROGRESSIVE CASUALTY INSURANCE COMPANY:

The company was established in 1973, headquarters at U.S. The Progressive Group of Insurance Companies has always lived up to its name by being one step ahead of the insurance industry, and finding new and affordable insurance solutions. The company has business segments such as personal lines, commercial lines, property, investments, fees and other revenues, and service businesses and market focused segment is Personal Lines. The company has its presence in U.S., U.K., and Europe.  Subsidiaries of Progressive Group of Insurance Companies include Progressive American Life Insurance Co. (America), PCIC Canada Holdings, Ltd. (Canada), ARX Holding Corp (America) and others.

  • In September 2017, the company has introduced ELD Usage-Based Insurance Program for Commercial Truck Drivers. This launch extended the company’s service portfolio

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ALLSTATE:

ALLSTATE was founded in 1931 at Northbrook, IL, U.S. All states focuses on providing the top class services and products to their customers to safeguard them with the uncertainties of the life and to help them for a safe future. The business segments of Bureau Veritas include allstate protection, service businesses, allstate life, allstate benefits, allstate annuities, other business segment and market focused segment is Service Businesses.The company has 10,000 employees. The company has its presence in US, Europe, Canada, Puerto and Rico.

  • In September, Allstate launched a product for life insurance which will pay on monthly basis rather than lump sum amount. This is consumer driven product which will help the company to cover more market share and to aware the people about life insurance.

ALLIANZ:

Founded in 1890, headquarters at Germany, Europe. The company focused on wide range of insurance and asset management products to their customer globally. Their aim is to make every customer feel safe about their future with their best insurance flans. Business segments of the company include property-casualty insurance operations, life/health insurance operations, asset management, and corporate and other. The company has approximately 140,000 employees. The company is ISO 9001:2008, ISO 10668 certified. The company has its presence in Australia, Italy, America, Singapore, Bermuda, and others. The subsidiaries of Companhia de Seguros Allianz Portugal S.A., Oldenburgische, Landesbank AG, Pacific Investment Management.

  • In January 2016, Allianz launched BonusDrive for their young customers having their own telematics which helped in better and safe driving with cost effectiveness. This launch reduced the premium by a good margin.