Tanner Barney: Forty Under 40
Congratulations to Tanner Barney, vice president, risk and underwriting at Progressive Leasing. He was named one of Utah Business’ 2018 Forty Under 40 honorees.
Tanner Barney joined Progressive Leasing in 2009 and quickly tackled the company’s slow-moving underwriting process. He identified thousands of data sources and built over 150 unique algorithms in order to automate the underwriting process. As a result, the process transformed from an hours-long manual process based on hand-completed forms sent by fax into a digitized, automated process that could produce an underwriting decision within seconds.
These days, the proprietary Progressive algorithms aggregate and analyze over 25,000 data inputs to make a decision on a single lease approval. This “automated decision engine” helped Progressive Leasing grow from $40 million in revenue in 2009 to more than $1.6 billion in 2016.
In his current role, Barney oversees a team of 38 data scientists with backgrounds in computer engineering, applied mathematics, astrophysics, economics and mechanical engineering—this high-powered team manages all underwriting and data science processes and initiatives for Progressive.
COMMUNITY INVOLVEMENT: Barney is actively involved with Big Brothers Big Sisters of America, where he mentored a young boy for over three years. When Progressive Leasing hosted a fundraiser and goods drive for Big Brothers Big Sisters, Barney dressed up as Hulk Hogan to engage employees in the effort, which ultimately raised $10,000 and a mountain of much-needed items for the kids.