Nearly five months after putting its media account in review and laying off dozens of marketing staffers, Geico has selected IPG shop Mediabrands. The appointment concludes the insurer’s 25-plus-year tenure of working with Horizon. Dentsu Media was one of the other finalists in the review according to multiple people close to the situation. Dentsu Media declined to comment.
Geico, which is owned by Berkshire Hathaway, spent more than $1.4 billion on media in 2021, ranking it as the most-advertised brand in the U.S., according to Ad Age’s Datacenter. Rival Progressive is No. 4 and Allstate and Liberty Mutual are No. 9 and No. 10, respectively.
IPG CEO Philippe Krakowsky in a statement called Geico an “iconic brand” and said the agency is excited to have “the opportunity to bring to bear a range of media and precision capabilities on their behalf.” He added, “By incorporating the full breadth of the contemporary, data-infused expertise at IPG Mediabrands, we can support the GEICO team as they go to market with an audience-led approach that will increase the value of each customer interaction and also drive growth.”