Question

what is the overlay of GEICO Insurance company? what is also the understanding of their Equilibrium Theory?

what steps and or ideas that were implemented?

How is GEICO insurance company now?

Answer 1

The Government Employees Insurance Company is an American auto insurance company with headquarters in Maryland. It is the second-largest auto insurer in the United States, after State Farm. GEICO is a wholly-owned subsidiary of Berkshire Hathaway that provides coverage for more than 24 million motor vehicles owned by more than 15 million policyholders as of 2017. GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. The insurance agency sells policies through local agents, called GEICO Field Representatives, over the phone directly to the consumer via licensed insurance agents, and through their website. Its mascot is a gold dust day gecko with a Cockney accent, voiced by English actor Jake Wood from 2005 until his termination due to a pay dispute in 2015. GEICO is well known in popular culture for its advertising, having made numerous commercials intended to entertain viewers.

GEICO also offers property insurance, as well as umbrella coverage which GEICO sells, but the risk on the policies are transferred to third party companies. GEICO manages the policies as the “insurance agent” and has a separate customer care team that handles the property and umbrella policies.