Geico
Headquarters: 5260 Western Avenue, Chevy Chase, MD 20815
Key officers: Tony Nicely, Chairman, President, & Chief Executive Officer of Insurance Operations, Lou Simpson, President & Chief Executive Officer of Capital Operations
By offering low rates and multiple discounts options, Geico has become the fastest growing auto insurer in the United States. The company currently insures more than 16 million automobiles and has 12 offices located throughout the country. In addition to auto insurance, Geico also offers other types of coverage including motorcycle, boat, life, and flood insurance. The company recently passed the 9 millionth-policyholder mark in 2009.
Some quick facts about Geico
Geico began as small organization founded by Leo Goodwin and his wife, Lillian in 1936. The company’s abbreviated name stands for Government Employees Insurance Company due to the founders’ initial focus on government employees and military members.
Geico is a subsidiary company of Warren E. Buffet’s Berkshire Hathaway, Inc. Buffet bought his first share of Geico in 1951 and purchased the remaining stock in 1996.
Perhaps one of the most recognizable aspects of the Geico brand is its green reptilian spokesperson, the Geico Gecko. The idea for the Gecko’s creation was due to the fact people mispronounced Geico for “Gecko.” Born out of an advertising agency’s doodle, the Gecko emerged onto television in 2000 and was recently voted as America’s favorite advertising icon in 2005. The company also created the Geico cavemen in 2004, which launched the long running “it’s so easy a caveman could do it,” ad campaign.
Geico recently received an “A++” ranking from A.M. Best for financial strength.
Source: Geico.com, Hoovers.com
Compiled by Life Quotes, Inc. Staff.
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