Modern three-story office building with "Best Egg" signage, large glass windows, and surrounding green landscaping under a clear blue sky.
Best Egg Headquarters in Wilmington (Courtesy)

Wilmington-based fintech Best Egg just joined forces with one of the insurance industry’s biggest players. 

Progressive Insurance has named the 11-year-old company its newest personal loan provider, expanding an existing relationship.

Under the expanded collaboration, Best Egg loans will be available through Progressive’s ecosystem. Customers will be able to explore unsecured and secured loan products directly through the insurer’s platform. 

The partnership underscores Delaware’s growing role in fintech.

“It’s really leveraging our core capabilities, and combining them with the strength of the Progressive brand,” Stephen Ovadje, chief marketing officer at Best Egg, told Technical.ly. “Those things together just made perfect sense.”

The partnership underscores Delaware’s growing role in fintech, per Ovadje.

The new offering reflects a growing trend among large insurers to broaden their ecosystems with adjacent financial services, aiming to keep customers engaged beyond traditional policy interactions. By integrating personal lending alongside insurance products, Progressive has more to provide its customers, while Best Egg gains exposure to a national customer base at scale.

Ovadje said customers typically turn to Best Egg for three main reasons:

Man in a gray suit and light blue shirt, wearing glasses, smiling, standing in front of a gray backdrop with vertical brown stripes.
Stephen Ovadje (Courtesy)
  • Covering unexpected expenses
  • Consolidating and restructuring debt
  • Managing cash flow

Best Egg’s loans are paired with financial health tools designed to help borrowers track progress over time, he said.

For Progressive, the move reflects a broader strategy of expanding access to financial tools beyond traditional insurance products. “We’re constantly looking for ways to bring value to customers,” said Progressive’s Erwin Raeth, in a release.

Best Egg is one of Delaware’s largest fintech lenders, and Ovadje said working with a national brand like Progressive reinforces Delaware’s reputation as a hub for financial technology talent and innovation.

“I think it continues to reinforce the fact that Delaware is on the map as a fintech hub,” Ovadje said. “We wear that badge with pride.”