Coping With Electronic Commerce:
Electronic Patient Information
June 06, 2009
Coping With Electronic Commerce:
In The Auto Insurance World
Over the last three decades, the meaning of electronic commerce has changed. At first electronic commerce meant the facilitation of commercial transactions electronically. Now electronic commerce, also known as e-commerce, can be defined as business actives conducted using electronic data transmission over the Internet and the World Wide Web. Other transactions included in conducting e-commerce could be businesses trading with other businesses and internal processes that companies use to support their buying, hiring, ...view middle of the document...
From their beginnings, Progressive has been a front runner for new and innovative techniques to auto insurance. Progressive was the first auto insurer to offer drive-in claims service and to allow customers to pay their premiums in installments. One of Progressive goals is to make auto insurance accessible and easy so more people could protect their vehicles and in return bring big profits. Progressive has experience an upswing up growth since the early 50’s and which help fuel the decision to become a public company in 1971. In 1987, Progressive surpassed $1 billion in premiums and that same year the New York Stock Exchange listed their stock under the PGR symbol (Progressive, 2009). They currently have over 28,000 employees in more than 450 offices throughout the country. Progressive business philosophy was to approach auto insurance in an innovative way, setting them apart from their competitors. Progressive is definitely utilizing the first-mover advantage, which is a strategy that companies use to gain a competitive edge. First-mover advantage is defined as the benefit a company can gain by introducing a product or service before its competitors. Progressive has had a host of accolades and achievements (Progressive, 2009):
• In 1990, Progressive introduced Immediate Response® claims service, which is available 24/7, to provide customers with personal service and support immediately after they have reported a claim.
• In 1994, Progressive was the first to introduce Immediate Response® Vehicle (IRV), which is a specially marked vehicle that brought trained claims professionals to wherever customers needed them.
• In 1995, Progressive was the first major auto insurer in the world to launch a Web site, which push them ahead of their competitors by gaining momentum in the online world.
• In 2003, Progressive was the first to launch a concierge level of claim service by allowing customers to drop off their cars at a claims service center for repairs and they pick their customers up once the repairs are complete.
• In 2008, Progressive.com earns the No.1 spot on the Keynote Systems Q4 2008 Insurance Carrier Scorecard and has won every scorecard published since 2004 and has held the top spot for 13 of the last 14 scorecard rankings published since 2000.
By Progressive being the first auto insurer it placed them at the forefront of the online world of technology, giving them an edge over their competitors like State Farm, Allstate, GEICO, and USAA. Progressive is known for being one of the more innovative insurance companies. Many consumers would agree the reason they utilize the internet is because of lower prices, convenience, and personalization; Progressive gives consumers those more times over. Some of the benefits of Progressive using e-commerce are increasing revenue, ability to reach more consumers, and saving the company money in the process. Also, a benefit e-commerce provides within...