Progressive unveils rebrand for industrial fleet product | Insurance coverage Enterprise America

Business strains president shares reasoning behind the transfer

Progressive unveils rebrand for commercial fleet product

Motor & Fleet

Mika Pangilinan

Progressive Insurance has introduced a rebrand for its massive fleet industrial line protection, which beforehand glided by the identify of a enterprise it had acquired.

The product that was often called Protecting Insurance coverage will now be named Progressive Fleet & Specialty Packages, the insurance coverage large mentioned in a information launch, as a part of a strategic integration of companies following the 2021 acquisition of Protecting Insurance coverage Company.

In response to the discharge, the new Progressive Fleet brand goals to showcase Progressive’s expanded experience in massive fleet transportation and area of interest insurance coverage applications focusing on these within the transportation and supply industries.

“This announcement was a part of our technique after we first acquired Protecting nearly three years in the past,” mentioned industrial strains president Karen Bailo. “Our imaginative and prescient has come to fruition with this announcement enabling us to advertise our full suite of capabilities within the transportation market.”

Previous to Progressive’s acquisition, Protecting Insurance coverage had a decades-long historical past in advertising and underwriting insurance coverage merchandise targeted on the transportation trade.

Progressive accomplished its swoop for Protecting Insurance coverage in June 2021. The transaction was valued at $338 million, in response to a earlier launch.

“We look ahead to becoming a member of as one group and profitably rising the enterprise collectively,” Bailo mentioned of the deal in 2021. “For now, we’ll all stay targeted on offering our prospects, companions and purchasers with the distinctive service they anticipate and deserve, as we work in direction of making selections on how one can finest combine and function our companies to offer larger alternatives for development.”

What are your ideas on this story? Be at liberty to share your feedback beneath.

Associated Tales