Progressive Plans Major Hiring Amid Auto Insurance Growth; Chubb Faces Q1 Challenges
Progressive Insurance is expanding its workforce by over 12,000 employees in 2025 to sustain its year-over-year growth. The hiring will focus on claims adjusters, customer care, IT, analyst roles, legal, and corporate positions. Progressive added over 5 million policies and increased net premiums written by 21% to $74.4 billion in 2024. Its Q1 2025 profit rose 10% year-over-year to nearly $2.6 billion, supported by a combined ratio of 86%, indicating efficient claims management and profitability. The company is offering a mix of remote, hybrid, and in-person roles in several key states and emphasizes its flexible workplace model and career development programs.
In contrast, Chubb Limited experienced a decline in Q1 2025 net revenue and P&C underwriting income fell by 68.5% compared to Q1 2024, largely due to significant catastrophe losses from California wildfires. Despite a net premium growth of 3.2% and stable core operating income, Chubb's combined ratio increased to 95.7%, reflecting higher claims costs. The CEO highlighted economic uncertainty, trade challenges, and inflation risks impacting the insurance sector’s outlook.
According to J.D. Power's 2025 U.S. Insurance Shopping Study, consumer behavior in auto insurance showed a record 57% of customers actively shopped for policies in the past year, driven by both price changes and service factors. The study noted a decrease in auto premium inflation to under 2% by late 2024, stimulating higher shopping rates. Bundling policies remains popular, with 33% of shoppers seeking package deals. Usage-based insurance programs have seen a slight resurgence, offered by 17% of insurers in 2025. Customer satisfaction rankings placed Erie Insurance at the top among large auto insurers for the second year in a row.
This report highlights the dynamic state of the U.S. insurance market, marked by strong growth and workforce expansion at Progressive, underwriting challenges at Chubb, and evolving consumer demand characterized by increased shopping activity and interest in embedded and usage-based insurance options. Industry players continue to navigate economic uncertainties while investing in talent and technology to enhance competitiveness and customer engagement.