What are the sales goals for Geico sales reps?

Question

I am doing a project for school comparing the different sales goals between sales reps in the the P&C industry. It would be helpful to know the goal, as well as, the actual.

Answer 1

Since GEICO is a "direct writer" and they have very few agents - you will hard pressed to determine what their goals are.....hear their commercials? Save 15% in 15 minutes?? Well, they do this by cutting out an agent that normally makes 12-15% commission for the sale.

BUt...then again....and agent is WORTH the difference.  When you cal MY office, you get to talk with me or one of my licensed staff.  Try THAT when you call GEICO.  Chances are, you'll NEVER talk to the same person TWICE!

Since GEICO has Warren Buffett's financial backing, they work on cash flow and don't really care WHATY they make.

GOod luck and I hope this helps!

Answer 2

I must disagree with the comment from the above 27+ Year insurance agent.

GEICO has over 8,000 licensed insurance professionals who maintain both resident and non-resident licenses in 49 states and the District of Columbia.  This number doesn't include the 1000's of support personnel in underwriting, nor does it include the 1000's of licensed claims adjusters throughout the country.  

You can call GEICO 24 hours a day, 365 days a year.  There is always someone there to service your policy.  In addition the GEICO internet site allows you to quote new vehicles, make changes to your policy in real-time and report and view claims information.  This is a huge plus for anyone with a busy schedule who can't always make it in to a "normal" agents office between the hours of 9-5.

GEICO strives to be the premier low-cost, high value insurance provider of choice.  Moreover, GEICO strives to be number 1 in customer service, which is why if you have an accident on Christmas Eve at 11pm, someone is there to take your call and begin processing your claim immediately.  Likewise, if that special someone buys you a car and you need to insure it, a Licensed Insurance professional is there on New Years day to start your policy and begin coverage immediately.

GEICO also offers Homeowners, Personal Articles Floaters, Small Business Commercial, and many other types of coverage.

Whether the Sales Agent makes a sale or not, the goal is to service the customer and answer any questions they may have about insurance.  The specific goals vary from region to region.  GEICO primarily operates with Licensed Agents who are salaried thereby passing savings on to the customer, whereas independent agents live by commission on the sale and subsequent renewals.  We don't always have the absolute lowest rate, if we did, we would be the only insurer in the marketplace.  We do however, offer the absolute best service with the highest value possible.  Consistently rated in the top 5 insurers in the nation for auto insurance, GEICO offers high value, low cost insurance from a A++ rated insurer.