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Geico Auto Insurance

 
GEICO Auto Insurance is a personal lines auto insurance company based in the United States. GEICO Auto Insurance, also known as GIECO, stands for G overnment E mployees I nsurance CO mpany. Despite the name, it was never a government agency but rather a private firm originally founded by Leo and Lillian Goodwin to market auto insurance directly to federal government employees and their families. GEICO Auto Insurance was based on the assumption that such persons would constitute a more financially stable and less risky pool of potential insureds than the general public. After real-time access to computerized driving records became available in the 1970s throughout the United States, GEICO gradually began to insure the general public as well.

GEICO Auto Insurance is well known by name in America, not only because of their humorous television ads, but also the sheer volume of them. This is because the company generally prefers to deal directly with consumers via the telephone and the Internet, freeing up capital that would otherwise be spent on employing insurance agents in the field. GEICO Auto Insurance does, however, market their products through a small number of field agents, most of which are based near military bases. These agents are known as GFRs (Geico Field Representatives).

GEICO Auto Insurance is a wholly-owned subsidiary of Berkshire Hathaway and currently provides coverage for 10 million vehicles owned by 6 million policyholders. GEICO Auto Insurance claim numbers are 17 digits long, and are known internally as "ridiculously long claim numbers". GEICO Auto Insurance has found that driving down costs brings drivers by the droves into its fold.

Note: BamAutoInsurance.com is not affiliated with GEICO Auto Insurance. BamAutoInsurance.com is an independent company focused on providing consumers valuable auto insurance information. We do not sell insurance for GEICO Auto Insurance. We offer free qoutes to consumers who have no obligation to purchase products from our partners to whom we send auto insurance shoppers like yourself.

 
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GEICO Auto Insurance Financials
Fiscal Year End: December
Revenue (2003): 7784.00 M
Revenue Growth (1 yr): 16.70%
Employees (2003): 21,390
Employee Growth (1 yr): 7.00%

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