(Bloomberg)—Progressive Corp., the fourth-largest U.S. auto insurer, is searching for the right message to attract customers to its Snapshot product that tracks a person’s driving to set rates, CEO Glenn Renwick said.
Surveys of prospective customers have shown that “you get about 30 percent of people saying, ‘Yeah, why not?’; you get another 30 percent of people saying, ‘Maybe, I need to know more’; and you get about 40 percent of people saying, ‘No way in hell,’” Renwick said today on a conference call to discuss results at the Mayfield Village, Ohio-based company.
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