GEICO Begins Recruitment for New York Operation

August 20, 2009

  • August 20, 2009 at 1:55 am
    Bob says:
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    Does anyone know if GEICO is trying to do this direct without agents. I was aware of their renters program advertising but did not know they were trying to insure dwellings.

  • August 20, 2009 at 6:15 am
    Jersey Jack says:
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    Of course they are. When did GEICO ever use agents?

  • August 21, 2009 at 7:31 am
    Schmo, Joe says:
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    GEICO does not write any property policies in NY on their paper, they are all written on Traveler’s paper with a Geico logo. GEICO is basically a broker for Traveler’s. With how much business Geico takes from Traveler’s each year, I wonder if Traveler’s writes that much HO business for GEICO to offset the losses. I would imagine not, but the kickbacks muct make it all worth while.

    Big Thanks to Traveler’s for supporting their independent agency force!!

  • August 21, 2009 at 8:17 am
    Bob says:
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    It appears that GEICO does not gain an expense advantage by going through Hartford. If GEICO experiences profitability in the homeowners market I imagine they’ll part ways. Years ago I worked for a preferred auto insurance company that took on Progressive as a partner to give our agents a non-standard auto market. The company I worked for no longer exists. Hartford may find out the hard way that’s Warren Buffet in grandma’s clothes.

  • August 21, 2009 at 9:04 am
    Han Valen says:
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    Wow. If you believe that GEICO is selling insurance w/out agents, then file a complaint.
    That would be enough to get GEICO fined quite a bit… particularly if all 300 of those employees weren’t agents.

    That is a pretty serious charge there Bob. I would love to see your proof.

  • August 21, 2009 at 9:53 am
    Bob says:
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    Van you know that we’re talking about independent and direct writing agents – the professional ones, not the random order takers at the end of a phone. Earth to Van

  • August 21, 2009 at 9:54 am
    Mark says:
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    There is a diffence between an Agent and a Policy Peddler.

  • August 21, 2009 at 2:45 am
    Kim says:
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    I think they are only allowed to hire cavemen and lizards.

  • August 27, 2009 at 3:57 am
    SWFL Agent says:
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    Geico does have agents (brick & mortar) is some areas and has for quite a while. Many are near military bases however they are beginning to open new offices in other areas. No harm in trying to capture the segment that just wants to walk in and see a face. They do offer the same rate through their local agents as they do online/phone while Progressive offers a different rate for the direct channel and agent channel. It’s interesting. Progressive claims the loss results are different by channel, thus the rate difference,while Geico doesn’t seem to care. Of course Geico is kicking Progressive’s tail right now so maybe Progressive has been “over thinking” the rate differential concept.



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