Progressive: Name Your PriceMeanwhile, Mayfield Village, Ohio-based Progressive stands out at the outset of the quoting process with its name-your-own-price feature. In fact, pricing customization is a theme of the insurer's tool: a sliding ruler at the end of the process that makes the necessary adjustments to allow customers to pinpoint their budgets exactly.
"We're hoping other firms will start integrating this name-your-own-price feature," Wistrom reports. "It makes it so much easier for users to pick the price they want to pay instead of going through and playing with individual policy amounts. Usually they're going to be looking at price, not policy amounts."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio