Progressive Direct exits Aussie car insurance market
If you’re a Progressive policyholder you can expect to receive a letter in the mail featuring a Notice of Intention, but you can also access any information you need right now here.
The good news for Progressive’s existing customers is that their premium, level of cover and other policy features won’t change and nor will they have to take any action to ensure that they’re still insured.
The deal is expected to come into effect on November 4th, but could see the Progressive masthead run until 2020.
Customers can also rest easy knowing that Progressive Direct’s innovative digital culture is set to continue under Hollard’s guidance with current Country Manager, Simon Lindsay staying on after the acquisition.
“We'll benefit from a shared vision and local scale advantages to reinforce our core value proposition for our customers with quality, online and materially lower-cost car insurance,” said Lindsay.
What to do next?
- Check the mail: A Notice of Intention will be sent to all Progressive Direct policyholders informing you of the sale and providing contact information for any further queries or questions.
- Remain calm: No need to scramble for a new policy or worry if you’re still covered - your policy won’t change during the sale.
- Shop around: If your policy is up for renewal soon or you just want to see how your current policy stacks up, check out Mozo’s comparison tables for a range of car insurance policies.