Key Takeaways Progressive's policy acquisition costs are central to its profitability and growth strategy.PGR leverages analytics, pricing and AI to manage costs and target profitable customer segments.Higher acquisition spending puts pressure on margins but PGR aims to keep its expense ratio below 20%.For Progressive Corporation (PGR) , policy acquisition costs play a crucial role in determining its profitability. Policy acquisition costs (“PAC”) include costs incurred to acquire and underwrite new insuran ...