Progressive 2011 Annual Report Download - page 6

Vision and Values
VISION
We seek to be an excellent, innovative, growing, and endur-
ing business by cost-effectively and profitably reducing
the human trauma and economic costs of auto accidents
and other mishaps, and by building a recognized, trusted,
admired, business-generating brand. We seek to maximize
shareholder value and to provide a positive environment
that attracts quality people who develop and achieve ambi-
tious growth plans.
CUSTOMER VALUE PROPOSITION
Our Customer Value Proposition provides a litmus test for
customer interactions and relationships and innovation.
Fast, Fair, Better That’s what you can expect from Progressive.
Everything we do recognizes the needs of busy consumers,
who are cost-conscious, increasingly savvy about insurance,
and ready for new, easy ways to quote, buy, and manage
their policies, including claims service that respects their
time and reduces the trauma and inconvenience of loss.
CORE VALUES
Progressive’s Core Values serve as the foundation for our
corporate culture. They govern our decisions and define the
manner in which we conduct our business and how we
interact with all interested parties. We want them understood
and embraced by all Progressive people. Growth and change
provide new perspective, requiring regular refinement of
Core Values.
Integrity We revere honesty. We adhere to high ethical
standards, provide timely, accurate, and complete financial
reporting, encourage disclosing bad news, and welcome
disagreement.
Golden Rule We respect all people, value the differences
among them, and deal with them in the way we want to be
dealt with. This requires us to know ourselves and to try
to understand others.
Objectives We strive to communicate clearly Progressive’s
ambitious objectives and our people’s personal and team ob-
jectives. We evaluate performance against all these objectives.
Excellence We strive constantly to improve in order to meet
and exceed the highest expectations of our customers, agents,
shareholders, and people. We teach and encourage our people
to improve performance and to reduce the costs of what
they do for customers. We base their rewards on results and
promotion on ability.
Profit We seek to earn a profit by offering consumers prod-
ucts and services they want. Profit is how the free-enterprise
system motivates investment and rewards companies that
consistently create value.
Communicating a clear picture of Progressive by stating what we try to achieve (Vision),
how we interact with customers (Customer Value Proposition), and what guides our
behavior (Core Values) permits all people associated with us to understand what we expect
of ourselves and each other and how we conduct our business.
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