progressive CEO Renwick to Retire; Griffith selected as Successor

The modern Corp. introduced that Glenn Renwick, president and chief government officer,  will retire after extra than 15 years as CEO and almost 30 years with the organization, powerful July 1, 2016.  Tricia Griffith, currently personal lines leader running officer, will succeed Renwick as CEO and president and will join the board of directors.

Renwick will preserve as govt chairman of the board.

Stephen Hardis, lead unbiased director of innovative’s board of directors, stated the transition is the result of a method initiated via Renwick several years ago. He said the leadership exchange comes at a “time of electricity” for the company.

“below Glenn’s leadership, progressive has turn out to be one of the maximum successful, revolutionary and revered coverage groups,” said Hardis

Renwick joined revolutionary in 1986. He became named CEO of coverage operations in 2000 and has served because the CEO of the figure company for the reason that 2001.  He has served in a selection of operating roles at some stage in his tenure at modern, which include product manager, the top of the agency’s marketing organisation and enterprise generation chief.

Renwick was given the extra position of chairman following the dying of preceding chairman Peter Lewis in November, 2013.

due to the fact that Renwick have become CEO in 2000, the organisation’s market capitalization has multiplied with the aid of about 155 percent to extra than $19 billion and written rates have more than tripled. Renwick, a former Bell Labs engineer, made modern a pacesetter in e-commerce and cellphone direct sales, online charge comparisons, and patron technologies inclusive of the utilization-based picture, which video display units driver’s driving behavior. In 2008, progressive received a U.S. patent for one among its strategies of processing car harm claims, which it calls its concierge degree of claims provider. innovative holds several different patents, consisting of three for its usage-based coverage applications and one for its online coverage servicing skills. .

In 2015, Renwick accelerated the insurer’s commercial enterprise and its potential to bundle personal strains merchandise with the purchase of home insurer ARX preserving last year. It was the primary provider to offer its auto clients puppy injury coverage.

“it's been a privilege to guide this great enterprise – surrounded via the smartest, maximum entrepreneurial, and revolutionary people in the coverage industry,” said Renwick.

revolutionary has had  a combined distribution model, selling each immediately y cellphone and on line as well as thru unbiased retailers, a strategy that has not take a seat properly with all unbiased agents over the years. It has supported its channels with competitive advertising that rivals that of specific agent car insurers along with GEICO, country Farm, Allstate and nationwide.

over the years, a few unbiased dealers have questioned innovative’s dedication to the unbiased organisation distribution channel even as the corporation become amongst the most important dealers of vehicle insurance via agents. In 2004, the organisation launched a new branding effort expressly for independent retailers and agents: power insurance from innovative. however the enterprise dropped the separate pressure emblem call in 2007 and amassed all sales beneath the innovative name in 2007.

Renwick’s successor, Griffith, joined revolutionary as a claims consultant in 1988 and has served as private traces leader operating officer, responsible for the employer’s personal lines, claims and client dating management businesses, due to the fact April 2015. She held numerous managerial positions inside the claims division before being named chief human sources officer in 2002. In 2008, she back to claims as the organization president, overseeing all claims features. earlier than her current position, she served as president of patron Operations, overseeing claims and the consumer control organization, which accommodates the agency’s touch center organization (sales and delivery), as well as the consumer experience, systems experience and body of workers control corporations.

innovative affords coverage for non-public and industrial vehicles and trucks, bikes, boats, leisure vehicles, and houses. home insurance is underwritten via pick out carriers, along with American Strategic insurance Corp. and subsidiaries (ASI), our majority owned subsidiaries. innovative is the fourth largest auto insurer within the usa.