Geico Insurance Company Essay Example

simultaneously. Consumer Tastes and Preferences Consumers’ tastes and preferences for auto insurance are shifting due to the growing need for convenience. One way GEICO has responded is by offering an expansive list of internet capabilities. Potential customers are able to receive a car insurance quote in 15 minutes or less (“GEICO,” 2013), compare the various policy offerings, and view the multiple discounts that GEICO has to offer.

Current customers are able to view or pay their bill, update their policy, or report and view claims online. Customers have the availability to access information at their convenience, 24/7, without having to wait on an agent to provide the requested information. Another program designed to maximize convenience is the Auto Repair Xpress program (“GEICO,” 2013). A claim adjuster starts by meeting the customer at the repair location. During the repair process, the adjuster ensures the quality of the repairs. Finally, the repairs are guaranteed for as long as the consumer owns the vehicle (“GEICO,” 2013).

This program is designed for convenience and customer satisfaction. Consumers seeking any service are always going to be concerned with the customer service that they receive. GEICO prides itself on excellent customer service. In fact, 97% of policyholders report being satisfied with the service that they receive (“GEICO,” 2013). On their own website, customers rate GEICO auto insurance at 4. 6 out of 5 stars. The great customer service helps to ensure new customer acquisition and current customer retention.