Disappointed with the public's initial response to an offer to test drive its telematics program, Snapshot, for free, Progressive Corp.'s CEO says the insurer will launch an aggressive advertising campaign in an effort to catch consumers' attention.
During a recent conference call with financial analysts, CEO Glenn M. Renwick said the Mayfield Village, Ohio-based insurer's projections for the number of new customers expected to participate in the free Snapshot program, Test Drive, "did not meet expectations," adding that the company may have set the bar too high. However, he is convinced that once customers try it they will enthusiastically embrace it.
"Some drivers do get a significant benefit from it," Renwick said.
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