Tag Archives: GEICO

GEICO Lauded with Women Technologists Award

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GEICO, the nation’s second largest and fastest-growing auto insurer, recently earned the prestigious Top Companies for Women Technologists award.

The award recognizes companies committed to building workplaces where women in technology careers can thrive. This year, the presenting AnitaB.org organization evaluated dozens of U.S. companies representing 574,000 technologists across a variety of industries.

AnitaB.org evaluated nominees on the basis of representation, employee experience and programs and policies.

GEICO earned the highest total score for a company with a technical workforce between 1,000 and 10,000. AnitaB.org cited GEICO for a “corporate culture that revolves around promoting diversity and inclusion” and “creating several rotational programs for entry level technologists and management that provide ongoing training for continued professional growth.”

“GEICO has always made diversity a top priority by promoting an all-inclusive environment that emphasizes leadership, training and career-advancing roles for women in IT,” said Marie Motowylak, GEICO director of decision sciences and business transformation. Motowylak accepted the honor on behalf of GEICO and added, “It’s important that we continue to create these opportunities that lead to successful and rewarding career paths.”

GEICO Executive Vice President and CIO Greg Kalinsky said, “Our commitment to innovation and our role in helping GEICO use technology to delight our customers has created incredibly dynamic technology opportunities for our IT associates. They tell me they are more successful and having a bigger impact than they ever dreamed. They are having unexpected careers that they find very rewarding. That’s what we love to see.”

Kalinsky noted, “We think the company’s success in all things digital – from its award-winning website to its best-in-class mobile app – has been aided by having a diverse and committed workforce and presenting associates with dynamic career choices. Our focus on modernizing all systems that support our associates and customers is a testament to the critical role IT plays in our success. I am truly humbled and thrilled for all GEICO associates to be recognized as a Top Company for Women Technologists.”

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO on Ward Group’s Top 50 Insurers for 27th Year

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Few companies are able to stand the test of time and maintain an outstanding financial performance spanning nearly three decades.

GEICO has notched a spot on Ward Group’s 2017 list of 50 top performing insurance companies. GEICO is one of only a few companies to have earned a top 50 designation for 27 consecutive years.

“The ability to remain in this position for more than two decades is a remarkable achievement in our company’s history and demonstrates a high-level of trustworthiness from our growing customer base,” said Bill Roberts, GEICO president and chief operating officer. “We are proud to be recognized by The Ward Group as a top performing insurance company.”

To develop its annual top 50 list, Ward Group analyzes the financial performance of nearly 3,000 property and casualty insurance companies domiciled in the U.S., and identifies the top performers over the previous five year period (2012-2016).

Jeff Rieder, partner, head of Ward Group mentioned that low investment returns, rising loss costs, and competitive market conditions continue to impact financial returns for the industry. “In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results,” said Rieder.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO’s Catastrophe Response (CAT) Teams on the Job in Florida

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GEICO’s Catastrophe Response (CAT) teams are now on the ground in Florida.

The CAT teams include auto damage adjusters, supervisors, managers, and IT personnel that are ready to assist policyholders in the wake of Hurricane Irma.

Georgia, South Carolina, and Tennessee adjusters are also ready to assist in those areas.

GEICO is staffing drive-in claims centers throughout Florida. At the same time several hundred associates around the country are taking loss reports and answering incoming calls. As roads open and areas become more accessible GEICO adjusters are expected to see several thousand vehicles through the week.

Berkshire Hathaway’s GEICO is the top auto insurer in Florida, and has the most at risk with Hurricane Irma possibly headed for landfall on the state’s east coast.

In 2016, GEICO had a 20.68% market share of all auto policies in Florida.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Berkshire Hathaway Most Vulnerable Auto Insurer in Florida

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Berkshire Hathaway’s GEICO is the top auto insurer in Florida, and has the most at risk with Hurricane Irma possibly headed for landfall on the state’s east coast.

In 2016, GEICO had a 20.68% market share of all auto policies in Florida.

The Category 5 storm. which has been leaving a trail of destruction through the Caribbean, could hit Florida in the early morning hours of Sunday.

The magnitude of the hurricane has Florida Gov. Rick Scott warning that the damage could be greater than 1992’s Hurricane Andrew, which caused 65 fatalities and $26.5 billion in damage.

“I want everybody to understand the importance of this. This is bigger than Andrew,” Gov. Scott said.

GEICO will be sending its Catastrophe Response (CAT) teams to Florida. The CAT teams include auto damage adjusters, supervisors and managers, and IT personnel.

Last week, GEICO sent CAT teams to Houston in the wake deal with the estimated 50,000 vehicles the company insures that were damaged by Hurricane Harvey.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO CAT Teams on the Ground in Houston

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GEICO has sent its Catastrophe Response (CAT) teams to Houston to handle damage claims in the wake of the massive flooding caused by Hurricane Harvey.

The hurricane may be the most destructive hurricane in U.S. history due to the estimated 500,000-1,000,000 vehicles that were damaged. Initial estimates put the number of those vehicles that are insured by GEICO at around 50,000.

The CAT teams include auto damage adjusters, supervisors and managers, and IT personnel.

GEICO earlier installed express call lines for Hurricane Harvey claims and the company reports its claims teams are effectively answering the incoming calls.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO Celebrates 4 Million Policies Milestone

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GEICO Insurance is celebrating reaching the four million policies milestone.

“Four million policies in force is truly a remarkable achievement in the history of the GEICO Insurance Agency,” says John Zinno, president of the GEICO Insurance Agency. “This milestone speaks volumes about our growth but more importantly, it exemplifies the hard work and dedication of our associates.”

Improved sales, service and customer retention along with a commitment to providing great products and services have been a catalyst for the GEICO Insurance Agency’s growth, and it also ties back into the company’s 20-year-old motto that emphasizes the importance of providing exceptional customer service.

“’Never say no to a customer’ is an attitude that is central to the way we interact with customers,” says Zinno. “It’s imperative that we always go the extra mile to make sure our customers have a remarkable experience every step of the way.”

Headquartered in Fredericksburg, Va., with offices in Buffalo, N.Y., and Virginia Beach, Va., the GEICO Insurance Agency is a subsidiary of the GEICO Corporation. The company offers multiple lines of insurance products, including homeowners, renters, condo, boat and umbrella insurance. Associates in the company’s three locations marked the achievement with a celebration.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO Besting Esurance in Illinois

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GEICO Casualty has been gaining customers in Illinois while its competitor, Allstate’s Esurance, has seen policyholder slippage.

Esurance’s total Illinois policyholders dropped 4% from the prior year to 49,317, according to its June 12 filing with the Illinois Department of Insurance. Nationally, its total policyholders fell 2% to 1.4 million from 1.43 million.

In contrast, GEICO Casualty’s Illinois policyholders grew to 212,029 policyholders as of March 31, which is a strong 15% increase from 183,644 policyholders.

In 2011, Allstate bought Esurance and Answer Financial from White Mountains Insurance Group for roughly $1 billion. Esurance sells auto insurance directly to customers online and through call centers. The unit has never turned a profit, and Allstate has responded by slashing its advertising budget.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO Reaches 15-Million Policyholder Milestone

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Fifteen million is a lot of anything, and for insurer GEICO it represents continued growth that has seen it become one of the dominant players in the auto, motorcycle and recreational vehicle insurance markets.

A Covington, Ga., couple called GEICO recently looking to purchase a new auto insurance policy. Little did they know that their 15-minute phone conversation with GEICO sales counselor Jon Hollingshed of Macon, Ga., would propel GEICO to a record-breaking 15-millionth policy.

“We are extremely excited that the 15-millionth policy was purchased here in Georgia,” said GEICO regional vice president Rhett Rayburn. “For the second time in 12 months, we’ve been a part of a significant policyholder milestone. This is a true testament to the tireless effort and hard work of our GEICO team here in Macon.”

Speaking with the couple over the phone, Hollingshed mentioned that they did their homework by asking the right questions, looking at coverage options, comparing quotes and reading customer reviews. “They reviewed different auto insurance companies but chose to go with GEICO because of our easy sales process, price discounts and mainly positive customer comments,” said Hollingshed.

As for being a part of GEICO’s historic milestone, Hollingshed had no idea that he had just sold GEICO’s 15-millionth policy. “When they told me the good news, I couldn’t believe it,” said Hollingshed. “My initial impression: what are the chances of that happening?”

GEICO (Government Employees Insurance Company) is a member of the Berkshire Hathaway family of companies and is the second-largest private passenger auto insurance company in the United States. GEICO, which was founded in 1936, provides millions of auto insurance quotes to U.S. drivers annually. The company serves more than 15 million private passenger customers, insuring more than 24 million vehicles (auto & cycle).

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO Hiring in Georgia

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One Hundred new jobs are coming to the Peach State, as GEICO continues to grow its operations in Macon, Georgia.

GEICO’s Macon regional office is looking for local Georgians interested in joining its team of claims representatives.

“In the event of an accident, GEICO’s claims representatives are the first to assist our policyholders when they need it the most,” said Shawn Burklin, senior vice president. “That’s why it’s so important for us to have a great team of associates ready and willing to serve our customers. If you are up to the challenge, we want to hear from you.”

Qualified candidates who have excellent customer service, communication and decision making skills, experience with computers, a good work ethic, and are comfortable working in a fast-paced environment are encouraged to apply.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

GEICO Creates Virtual Assistant “Kate” to Answer Insurance Questions

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If you have an insurance question just ask Kate, GEICO’s new virtual assistant. Available through the GEICO Mobile app, you can ask Kate a question and she will respond with quick, personalized answers.

“Interactive voice assistant technology has altered the way customers interact with their mobile devices,” said Pete Meoli, GEICO mobile and digital experience director. “Kate is very intuitive and has been programmed to connect with policyholders at a deeper level.”

Kate is available 24/7 to policyholders and makes self-service easier by answering questions and helping with their policy needs. She has been programmed to know about insurance and can provide customers with specific policy information. Customers can also initiate conversations with Kate by typing or speaking to her.

Meoli notes that Kate has a personal side and will reveal details about herself if asked. “We wanted her to be friendly with a natural interaction,” said Meoli. “She is always learning from our customers and will be an integral part of enhancing their experiences with GEICO.”

Kate is currently available within the mobile app for iOS, with plans to introduce her to Android policyholders in early 2017.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.