Geico launches agency review to expand creative roster

Geico, one of the nation’s largest auto insurers, has launched a review to expand its creative agency roster, Ad Age has learned. The brand is looking to better engage with its customer base, according to a person familiar with the matter, though it wasn’t immediately clear what the exact scope of the work would be. The Martin Agency has been Geico’s creative lead for 31 years, forming one of the longest agency-brand relationships in the industry. The insurance giant is one of the Interpublic Group of Cos.’ shop’s top three clients by revenue, according to information recently provided by the agency to Ad Age. A Geico spokesman declined to comment. An IPG spokesperson confirmed the review and said two IPG agencies are participating. Agency Review Tracker Stay up to date with the latest account reviews Click here Over its three-decade-plus tenure with Martin, Geico has produced such memorable characters that it even created a documentary-style campaign chronicling the efforts last year. Called “Legend of the Lizard,” a 15-minute film highlighted the history of the gecko mascot, who first appeared 26 years ago in Geico’s ads. In late 2023, Geico brought back its Caveman mascot, also conceived with Martin, after a nearly 15-year absence, as part of the lead-up to the gecko work. But the insurer has been taking a fresh look at its agency relationships lately. In 2023, Geico awarded its media business to IPG Mediabrands, consolidating creative and media under the same holding company. That review ended Geico’s 25-year relationship with Horizon Media. The review comes in the wake of Omnicom’s Group proposed acquisition of IPG. The IPG spokesperson said the review is not related to the merger. After the holding companies announced the deal in December, they held meetings with clients, according to multiple people close to the situation. These people said most meetings were positive, but added that Geico and Omnicom client State Farm inquired about potential conflicts. Also read: The latest on the proposed Omnicom-IPG merger In November, Geico confirmed that Chief Marketing Officer Damon Burrell would be leaving the brand this month after almost three years in the position. Burrell, who had worked at Estee Lauder before joining Chevy Chase, Maryland-based Geico in 2022, announced his departure in a post on LinkedIn. “Looking back, I could not be prouder of my team, what we’ve built and all that we have accomplished knowing that it will continue to deliver great value for years to come,” he wrote. While at Geico, Burrell spearheaded the brand’s media review in 2023, added celebrity talent such as Will Arnett to its commercials and ramped up its social media presence on platforms such as TikTok in an effort to connect with Gen Z. He is one of several marketers who are exiting the brand; Jared Vestal, who had been VP of growth and journey marketing, left in October to work at Independence Pet Holdings; and Gary Aurand, who had been senior director of brand and creative, also left in October to work at CoStar Group. Ad Age Best Places to Work 2025 50 companies doing a standout job See the full list here A Geico spokesman did not respond to a question about the status of the CMO search. Burrell’s replacement will be tasked with differentiating the brand at a time when insurers are under pressure to recruit younger customers. Owned by Berkshire Hathaway, Geico has seen its advertising budget wane in recent years. The brand spent $558.6 million on advertising in 2023, a 28% decline from 2022 and less than half of the brand’s $1.145 billion 2021 budget, according to Ad Age’s Datacenter. Geico parent Berkshire Hathaway ranks as the nation’s third-largest auto insurer when measured by direct premiums written with 12.3% market share as of 2023, according to the latest available data published by the Insurance Information Institute. State Farm ranked first with 18.3% share, followed by Progressive at 15.2%. Berkshire is down from its recent peak of 14.4% share in 2021. This story has been updated with a comment from IPG Become an All Access subscriber Get access to exclusive resources including Leading National Advertisers, World’s Largest Advertisers, Agency Report, Agency Review Tracker and TV Pricing Report. Click here

Geico launches agency review to expand creative roster

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