How is Geico successful
The US company Government Employees Insurance Company better known by the name Geico is a car insurance company and a wholly owned subsidiary of Berkshire Hathaway.
In 2006, Geico had more than 7 million policyholders who held more than 10 million policies for cars, trucks and other motorized vehicles.
Geico is generally a direct insurer who contracts, etc. directly with the policyholder by phone or internet.
In the auto insurance sector, Geico is the largest American direct insurer. The company also has a few insurance agencies, most of which are located near US barracks.
Geico was founded in 1936 by Leo Goodwin and his wife Lillian Goodwin to sell auto insurance direct to federal government employees and their families.
Geico has gained high visibility on US television through some original commercials. These include gecko advertising, Neanderthal advertising (caveman) and 15-minute online advertising. The general advertising slogan is "fifteen minutes could save you fifteen percent or more on car insurance" (15 minutes can save you 15% and more on your car insurance).
The Geico Gecko ad is an animated gecko that has become the company's mascot.
The Neanderthal advertising was so successful that an offshoot series was developed for the broadcaster ABC. This advertisement shows Neanderthals who travel by air, make phone calls or work as assistant directors and are constantly confronted with the general public image of Neanderthals of high backwardness. The advertisement ends with the slogan "Geico: So easy a caveman could do it" (Geico: So easy, even a caveman could do it).
The 15-minute online advertisement parodies typical YouTube nonsense videos and ends with the slogan “There may be better ways to spend 15 minutes online”.
In a commercial published in 2010, Warren Buffett appeared in the typical stage outfit of Axl Rose, singer of the rock band Guns N ’Roses, and achieved considerable response, especially in the US media.
- ↑"Warren Buffett sings". CNN, March 2010, accessed June 10, 2013.
- ↑"Warren Buffett Rocks Out in Insurance Commercial Ad Video For Geico". ABC News, March 2010, accessed June 10, 2013.
Categories:Insurance Company (United States) | Berkshire Hathaway | Chevy Chase, Maryland | Company (Montgomery County, Maryland)
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