Progressive says they plan to continue their aggressive rollout of usage-based insurance product SnapshotSM, also called Snapshot DiscountSM.
From Progressive’s 3rd quarter 2010 financial report, released yesterday:
SnapshotSM, our usage-based insurance product, is now available to Direct auto customers in 24 states, including 5 states added since the end of the second quarter 2010, and Agency auto customers in 12 of these 24 states. We plan to continue expansion of Snapshot into about 15 additional states, depending on regulatory approval and business results, over the next nine months.
Progressive CEO Glenn Renwick’s comments in today’s management teleconference with industry analysts:
Along with that, we actually expect probably later in the first quarter, maybe around the cusp of the first and second quarter, to be going more national with our Snapshot advertising. So we have some Snapshot advertising designed already and available for a local market test but we’ll wait until we have a slightly increased number of states with our Snapshot. We’ve got 24 there in direct today. I think we put that in the 10-Q, and we’ll have at least 75% of the country covered by that offering, and we’ll nationally advertise it around the end of that quarter.