Auto Insurance For Students

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GEICO is a company based in the United States. GEICO is a personal lines automobile insurance company that stands for Government Employees Insurance Companies. The name may be a bit misleading as it was actually never a government agency. Instead, it was developed as a private firm originally thought up by Leo and Lillian Goodwin to sell auto insurance straight to federal government employees and their families. GEICO assumed that these people would be more financially stable than the general public, therefore being less of a financial risk to their company. GEICO began to insure to the general public in the ’70s after real-time access to driving records became available.

GEICO likes to deal with their policyholders more by telephone and via the Internet. This way it frees up capital that would have to be spent on employing agents throughout the field. However, GEICO does offer field agents and offices, mostly near military bases, and these agents are known as GFR’s, or GEICO Field Representatives. Currently, GEICO insurance provides coverage for 10 million vehicles owned by 7 million policyholders. They are a wholly-owned subsidiary of Berkshire Hathaway.

GEICO’s advertising strategy is known for its sheer volume and that it focuses mainly on their mascots, most notably the gecko and the cavemen. The gecko’s accent was changed a few times, more recently to reflect on the working class, in an effort to “humanize” him and make him “more accessible and someone you enjoy listening to, some bloke you want to get to know.” GEICO also used parody ads, featuring Japanese idol fan clubs, upcoming Saturday morning cartoons that were only fictional, and senator election campaign ads. The ending always goes, “But it won’t save you money on car insurance!” After that slogan is heard, the commercial ends with “Why haven’t you called GEICO?” GEICO is a headstrong company that has proved its worthiness in the amount of years it has been around and the millions of policyholders who are satisfied.