GEICO has been sponsoring ads for the past couple of weeks
At first, Agency Checklists thought that we had read the Sponsored Ad wrong. After re-reading the ad, however, we realized that it was actually true. GEICO is hiring local agents in Massachusetts. In what many of our readers might categorize as a surprise move, the insurer is now offering “talented professionals” the opportunity to become a GEICO Agency Owner in the Greater Boston Area.
The following is the Sponsored ad that it has been circulating recently on Linkedin:
Moreover, here is the job description from the Linkedin page:
Fulfill your dreams of owning your own business.
Be your own boss and build a rewarding career while receiving tremendous support from one of America’s most successful and stable companies!
As a GEICO Local Agent, you own a local GEICO insurance agency and are an independent contractor exclusively writing business for GEICO and affiliated companies.
Your potential customers are already interested in GEICO’s products because of our low rates, reputation for outstanding customer service, and extensive advertising campaigns. A big part of your job is getting these prospective customers to call you or walk into your local retail location. GEICO will help you achieve your goals through assistance with local advertising, community event marketing and effective car dealership liaisons.
GEICO pays excellent commissions. If you’re interested in a career with huge potential, read more about why you should become a GEICO Local Agent at the following link:
https://www.geico.com/careers/opportunities/own-an-agency/why-become-a-local-agent/
So what does it mean?
The GEICO website says that it has been hiring GEICO insurance agents since 1961 and that “… Each local agent is licensed to help with insurance on your car, motorcycle, boat, ATV, RV, and more.” Moreover, the insurer says that “With an agent, you’ll get the personalized service and professional insurance advice you’re looking for.
Since GEICO does not have an office in Massachusetts and they did not respond to our outreach on Linkedin, it is hard to say what this move means. According to one poster on the social media platform Quora, however, GEICO hand selects markets in which to offer these agency owner opportunities.
In the Quora discussion entitled, “What are the problems with starting a GEICO Agency“, the poster discusses the issues he sees that makes owning a GEICO agency different from others. A few of the points he touched on are as follows:
- Limited Territory Availability
- Exclusivity (captive)
- Competing Distribution Channels
- Licenses must be obtained by GEICO Field Representatives (agents)
- Ownership of Renewals (Agents do not own the book of business. GEICO does)
But, why Boston?
Apart from Boston being a major insurtech capital, GEICO has been gaining ground in the private passenger marketplace in Massachusetts since its decision to enter here after the arrival of “Managed Competition” in 2008. Add to that, the growing population in the Greater Boston Area, its suburban/urban mix, and the ability of independent insurance agents here to continue to dominate the Personal Lines marketplace, one can see why the country’s second largest auto insurer might find Boston an attractive market in which to expand its agency business.
Another possibility is that it has rolled out a campaign to recruit more Local Agency Owners in order to continue to increase its market share everywhere. This reason also seems likely after checking the GEICO jobs page on Linkedin. It seems that GEICO is looking for Local Agency Owners in a variety of markets including Portland (ME); Washington, DC; Fayettville; Green Bay; Boise; and the Greater Milwaukee Area to name just a few.
So how has been the response thus far?
While Agency Checklists is not privy to GEICO’s metrics, the following are some of the statistics that we have observed from its Linkedin ad.
Since its publication two weeks ago, the job posting, which it categorizes as a Mid-Senior level, has received 104 views with eight actual applicants.
Agency Checklists will keep our readers updated on this interesting addition to the Massachusetts insurance marketplace as we learn more information.
