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For any business to thrive in the insurance industry, it must be versatile enough to adapt to the dynamic business environment. GEICO has proven that it was cut out for the highly competitive auto insurance sector considering its growth trend and rise as the second-largest player in the U.S.
In fact, its mission and vision statements reveal how progressive GEICO has been for over 80 years since it opened business in 1936. A corporate vision statement indicates where a company aspires to be in the future. GEICO’s vision emphasizes on the impacts the company wants to have on the overall welfare of its stakeholders and the communities.
On the other hand, a corporate mission statement describes the particular ways that would lead to the realization of the mission statements. For GEICO, the mission statement highlights the affordability and dependability of its insurance products to all its clients. To stay afloat and relevant for so many years calls for more than simply corporate statements. This is as evidenced by the core values of this organization.
GEICO mission statement is “to provide affordable and dependable direct auto insurance to drivers across the United States, while also representing our customers in their time of need following an accident.” For years, this is exactly what GEICO has been gifting its customers with everywhere it operates. The high number of covers it has given out vindicates the top position that it holds today among all other auto insurance companies. The mission statement has the fooling points:
- Improving communities
- Improving lives
The first component in this mission statement is satisfied by the various policies that GEICO offers to keep people and companies secured against any unforeseeable eventualities. The property, business, and motor vehicle insurances have for a long time restored people and businesses to their original economic situation, maintaining the stability of the society. Similarly, the responsiveness and the sacrifice that GEICO depicts while helping its customers when unfortunate events occur show how much the company cares about the lives of its clients.
GEICO official mission statement is yet to be published on its website. Despite this, the organization has shown that it is determined to “offer more than car insurance by keeping all people secured against all unanticipated threats.” Since its establishment, GEICO has maintained its word, and gone ahead to expand its insurance coverage to include other aspects and properties other than motor vehicles. The vision statement has the following components:
- Keeping people secured
- Exceeding expectations
Today, GEICO is recognized as a top brand due to its affordable yet dependable insurance covers. The packages that the company offers give customers varied options to choose from. In fact, while many other insurances limit what they can cover to only a few types of assets, people and companies enjoy much more through GEICO.
GEICO core values comprise “service, integrity, and growth.” Ever since its establishment, GEICO highly values the importance of going all out to offer its customers the best services. The company acknowledges that this is what has enabled it to grow into the corporation it is today, coupled by delivering its services the right way. In this way, everyone grows together with the company.
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