I agree, but Progressive is also probably the most successful insurer in transitioning to insuretech. They aren't necessarily a standard insurance company. I haven't gone over their financials, so I can't give you a completely informed and educated opinion, but there is a lot more to consider than just P/E. They very well could continue to expand and cut down on expenses. Their brand recognition is unmatched and they have streamlined their business for customer ease of use on both the insured and retailer side to an impressive degree.