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Home / Geico Insurance Company – About GEICO Profile

Geico Insurance Company – About GEICO Profile

Geico Insurance Company: GEICO  stand for The Government Employees Insurance Company is an American auto insurance company with headquarters in Chevy Chase, Maryland. It is the second-largest auto insurer in the United States, after State Farm.

GEICO is well known in popular culture for its advertising, having made numerous commercials intended to entertain viewers.

Geico Insurance Company

GEICO is built on ingenuity, perseverance, innovation, resilience, and hard, honest work. Take a moment to review GEICO’s milestones, or read the whole story and learn about the people and events behind GEICO.

 

GEICO – Corporate Profile

Type
Subsidiary
Industry Insurance
Founded 1936; 83 years ago
Fort Worth, Texas, United States
Founders Leo Goodwin Sr.
Lillian Goodwin
Headquarters
Chevy Chase, Maryland, United States
Key people
Bill Roberts (CEO)
Products Auto insurance
Revenue $25.483 billion USD (2017)
Number of employees
40,000
Parent Berkshire Hathaway
Website www.geico.com

 

GEICO History [ Milestones ]

1936 – GEICO is established by Leo and Lillian Goodwin.

1948 – Investment banker Lorimer Davidson joins the company and expands its pool of investors.

1951 – Columbia University business student Warren Buffett makes his first purchase of GEICO stock.

1958 – Leo Goodwin retires and is succeeded by Lorimer Davidson.

1959 – GEICO opens its new headquarters in Chevy Chase, MD.

1964 – GEICO passes the 1 million policies-in-force (PIF) mark.

1965-1966 – GEICO insurance premiums reach $150 million; net earnings doubled to $13 million.

1980 – GEICO introduces 24/7/365 telephone customer service.

1993 – New chairman Olza “Tony” Nicely implements a new strategy to expand the customer base; increased focus on advertising results in higher national visibility.

1996 – Warren Buffett purchases outstanding GEICO stock, making GEICO a subsidiary of Berkshire Hathaway, Inc.

1999 – The beloved GEICO Gecko® makes his debut in a wildly popular GEICO ad campaign.

2002 – GEICO passes the 5 million PIF mark.

2004 – The GEICO Caveman enters the scene with the “So easy a Caveman can do it” ad campaign.

2007 – GEICO passes the 8 million PIF mark.

2009 – GEICO passes the 9 million PIF mark and opens for business in Massachusetts making GEICO coverage and services available in all 50 states and the District of Columbia.

2010 – GEICO passes the 10 million PIF mark. GEICO is the first insurance company to offer the ability to purchase a policy in a mobile-friendly format via iPhone and Android mobile devices.

2012 – GEICO passes the 11 million PIF mark.

2013 – GEICO surpasses 12 million policies-in-force and insures more than 20 million vehicles.

2014 – GEICO passes the 13 million PIF mark and insures more than 22 million vehicles.

2016 – GEICO adds its 14 millionth policy.

2017 – In its best growth year ever, GEICO passes 15 million and 16 million PIF.

Today – GEICO passed 17 million policies in force in 2019 and now insures more than 28 million vehicles. The company looks forward to, even more, growth, founded on quality coverage and outstanding GEICO customer service.

History Mileston references given.

The Stats On GEICO

  • More than 17 million auto policies in force and growing
  • GEICO insures more than 28 million vehicles
  • Tony Nicely, Executive Chairman
  • Bill Roberts, President, and CEO
  • Second-largest private passenger auto insurer in the United States (A.M. Best)
  • One of the fastest-growing major auto insurers in the U.S.
  • Employs more than 40,000 associates
  • Maintains 17 major offices around the country
  • Provides 24-hour service, seven days a week, 365 days a year
  • Seven affiliated companies to meet the insurance needs of drivers

 

Others Insurance offered by GEICO:

In addition to auto insurance, GEICO can help you with:

  • Motorcycle, ATV, RV, and Boat insurance
  • Homeowners, Renters, Condo, Co-op, and Mobile Home insurance
  • Personal Umbrella Protection
  • Life insurance
  • Flood insurance
  • Overseas insurance
  • Business Owners Policy
  • Professional Liability insurance
  • General Liability insurance
  • Commercial Auto insurance
  • Collector Car insurance
  • Identity Protection
  • Jewelry insurance

Where to Reach GEICO:

Corporate headquarters:
5260 Western Avenue, Chevy Chase, Md. 20815

Mailing address:
One GEICO Plaza, Washington, D.C. 20076

Regional offices:

  • Buffalo, New York
  • Dallas, Texas
  • Fredericksburg, Virginia
  • Lakeland, Florida
  • Macon, Georgia
  • San Diego, California
  • Tucson, Arizona
  • Virginia Beach, Virginia
  • Woodbury, New York

Service centers:

  • Honolulu, Hawaii
  • Indianapolis, Indiana
  • Kansas City, Kansas
  • Iowa City, Iowa

Claims centers:

  • Houston, Texas
  • Marlton, New Jersey
  • Seattle, Washington

 

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References

Geico Insurance Company
Geico Insurance Company

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