Geico bounces back but still faces big IT challenges
Geico has a reputation for being a technology laggard in the Personal Lines
P&C industry. They've acknowledged this. But Progressive, their longtime rival,
is the industry technology leader. So much so that they avoided the massive
post-covid meltdown that the rest of the industry experienced. So how is Geico
going to catch up? By implementing the same package software core systems that
the rest of the industry have. Or by building tools that enable much more
granular and event driven risk selection throughout the policy lifecycle? Which
is where the money is and is something core systems can't solve.
April 17, 2024
