GEICO spent hundreds of millions a lot more in marketing dollars final year than other private insurance carriers, according to a current report.
GEICO’s $ 935.1 million in ad expenditures improved significantly less than a percentage point amongst 2012 and 2013, but the company nevertheless spent $ 280 million a lot more than Allstate, the next-highest spender. Allstate’s ad expenditures were $ 654.8 million, according to the report from House Casualty 360 and Nomura.
Last year’s ad spending at GEICO also came with 11.2 % development in private lines. Competitors in between Allstate and GEICO is hot, with the Gecko-led firm reportedly surpassing Allstate late last year as the leader in premiums nationwide.
In addition, SNL Monetary reported last summer than GEICO was the highest ad spender in 2012, and was again followed by Allstate.
The report’s prime 10 spenders in P/C insurance coverage advertising and marketing last year were:
| Rank | Company | Advertising $ in 2013 (millions) | % change from 2012 |
|---|---|---|---|
| 1 | GEICO | $ 935.1 | .2% |
| 2 | Allstate | $ 654.8 | 4% |
| 3 | State Farm | $ 608.1 | -.2% |
| 4 | Progressive | $ 604.2 | 18.7% |
| 5 | Nationwide | $ 296.7 | 26.4% |
| 6 | Liberty Mutual | $ 197 | 23.4% |
| 7 | UnitedHealth Group | $ 193.3 | -10.5% |
| 8 | Farmers | $ 165.8 | -8.2% |
| 9 | American Family | $ 148.7 | -8.2% |
| 10 | USAA | $ 133 | 120.2% |
After GEICO, Liberty Mutual had the second-highest increase in personal lines development, at 10.7 percent. The insurer not too long ago announced the launch of a new media campaign called “see automobile insurance in a entire new light.”
Report: GEICO Outspent Other P/C Insurers in Ads in 2013
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