RUNNING HEAD: GEICO STRATEGIC PLAN
GEICO Strategic Plan
MBA580
University of Phoenix
Executive Summary
This a challenging and exciting time for the Auto Damage Department for GEICO located in Phoenix Arizona. Due to past circumstances compared to current the department is now able to develop fundamental to progress the department in to a knowledge and profitable area. The ever rising rates of labor and costs of medical and physical damages rising the department is challenges to maintain a level of payment in relation to the amount of premium taken in each year. The more the department is able to control these costs the lower rates can be offered to customers, therefore, increasing growth.
Each of the goals is affected the success of the each other. The plan will be develop to have targets and tasks aligning with the short term and longterm goals. The efforts will be uniformed as a team to create a driving well rounded operation. The department will develop employees creating lower severity, increasing sales all while remaining profitable. Growth and staffing will be set to reach a goal at an aggressive but comfortable pace.
Background
The auto damage department of GEICO auto insurance is responsible for negotiating and settlement claims in each respective area. The Phoenix metro area has seen increased growth over the past five years. During this growth the auto damage department has been challenged with covering the claims in this area despite being understaffed. The department is now fully staffed to handle the volume in the area. However, the area still experiences increases in new business resulting in more claims each year. The Phoenix metro department of GEICO w ...