Progressive Introduces Insurance Comparison Quoting Platform for Small Business Owners

May 9, 2019

Ohio-based national insurer Progressive has joined the ranks of carriers offering small businesses a platform to buy insurance quickly and simply.

The insurer’s new online BusinessQuote Explorer (BQX) delivers multiple quotes from other carriers. Currently, BQX offers quotes for business owner, professional liability, workers compensation and general liability policies. The target audience is firms with up to 19 employees.

Progressive actually does not currently write the small business coverages available through the platform, Bill Kampf, general manager of Small Business Insurance at Progressive Insurance, told Insurance Journal. Instead, BQX quotes multiple “carefully chosen” carriers: Liberty Mutual, Hiscox, Homesite and Markel.

“BQX was developed as part of our ‘Destination Small Business’ strategy to offer workers comp, business owner’s policy, general liability and professional liability coverage to small business owners that are shopping our brand directly,” Kampf said.

The insurer’s promotion says it will take a business an average of 11 minutes or less to obtain quotes.

More than 20 years ago, Progressive pioneered in comparison-shopping by offering auto insurance shoppers multiple quotes. In 2017, Progressive introduced a similar platform, HomeQuote Explorer (HQX), for home insurance.

Progressive is far from alone in rolling out small business platforms that operate like the various InsurTech startups that are also vying for small businesses. Some carriers are going for direct sales; others are providing access for their agents: