PGR · 10-Q · 2026Q3 · Full report

Competition and Customer Retention

PROGRESSIVE CORP/OH/ · 2026-11-02 · Importance 25 · Surprise 32

Personal auto shopping and marketplace competition contributed to a 9% year-over-year decline in both trailing three-month and trailing 12-month policy life expectancy. Personal property policy life expectancy fell 7%, which the company attributed primarily to earlier rate increases, greater competition, and a shift toward renters policies. In contrast, core commercial auto policy life expectancy rose 3%, reflecting a business mix shift toward business auto and contractor targets, moderated rate increases, and customer reminders. Progressive identified retention and growth in bundled auto and property households as key priorities.

Key facts

• Progressive identified increasing customer retention and growing bundled auto and personal-property households (Robinsons) as priorities, and planned to continue investing in customer experience. source
• Trailing three-month and 12-month personal-auto policy life expectancy each decreased 9% year over year in third quarter 2026, primarily due to increased shopping and marketplace competition and, to a lesser extent, business-mix change. source
• Trailing 12-month policy life expectancy for core commercial auto increased 3% year over year, reflecting shifts toward business auto and contractor targets, moderation in rate increases, and initiatives including payment and renewal reminders. source
• Personal vehicle new-business applications decreased 1% and renewal applications increased 9% in third quarter 2026 year over year. source
• Progressive’s agency auto trailing 3- and 12-month policy life expectancy decreased year over year at the end of third quarter 2026, primarily due to increased shopping and competition and, to a lesser extent, a change in business mix. source
• Progressive’s direct auto trailing 3- and 12-month policy life expectancy decreased year over year at the end of third quarter 2026, primarily due to increased shopping and competition and, to a lesser extent, a shift in business mix. source
• Progressive’s personal property policy life expectancy shortened year over year at the end of third quarter 2026, primarily because of prior-year rate increases and increased competition, and to a lesser extent a shift toward renters policies. source
• Progressive’s direct personal auto quote volume decreased 6% in both the third quarter and first nine months of 2026; conversion increased 4% and 7%, respectively, compared with the same prior-year periods. source