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Geico

Geico

Company: Berkshire Hathaway Inc.

Brand Value: $6,491 Million

Headquarters: Chevy Chase, MD

Category: Insurance

Year formed: 1936

GEICO is the second-largest auto insurance brand in the United States, offering coverage in all 50 states and the District of Columbia. After its purchase in 1996 by Berkshire Hathaway, it began a large-scale television and direct response advertising program. Its numerous campaigns, including those featuring its iconic gecko, brought entertainment and humor to the insurance category and have made the brand one of the most visible and recognizable in the United States today. Its slogan has long been “15 Minutes Could Save You 15 percent on Car Insurance.” That low-cost focus has meant that policies are sold mainly by direct response, with customers applying for coverage directly to the company via the Internet or over the telephone. The brand also strives to provide excellent service to customers, with the goal of establishing long-term customer relationships. In recent years, while overall industry loss costs have risen, GEICO has posted strong growth.

 

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