Many have received discounts, Renwick reported.

In an increasingly rate-positive insurance environment, Renwick said the product could have more importance as a tool to allow consumers to “control their own rate level.”

The insurer distributes its insurance products directly and through agents, who are competing with each other to come up with the best pitch for Snapshot, Renwick said.

Agency sales of Snapshot have lagged direct sales but Renwick said he hopes the product becomes a good thing for agents.

“I suspect it'll just take some time in the marketplace,” he said. “As it plays out, agents should be more willing to get on board.”

The company's advertising has been effective in communicating the product to customers, and it is hoped that once there is a wider acceptance, Snapshot will be easier for agents to sell to consumers.

Agency business grew 2 percent during the third quarter this year compared to last year. Direct business grew 5 percent.

Third-quarter net income fell more than 40 percent to $150.7 million compared to $261.1 million a year ago during the same quarter.

Progressive reported a net realized loss on securities investments of $52.6 million during the third quarter.

The company incurred about $63 million in third-quarter catastrophe losses, including about $20 million from Hurricane Irene.

Net premiums written and policies-in-force grew 4 percent and 5 percent, respectively, compared to the third quarter in 2010.