GEICO and the Zarb School of Business have partnered to better understand the engagement and retention of millennials and the expectations of auto insurance customers in rural versus urban markets. Students provided GEICO with evidence-based recommendations to improve outcomes and customer satisfaction.
Dr. Veronika Ilyuk’s market research class focused on the underlying differences between rural and suburban customers. Each team surveyed over 100 respondents from across the United States. The study examined factors that drive consumers’ decision making for auto insurance and the type of appeal that resonates most.
Dr. Janet Lenaghan’s human resource management course examined the millennial employee group. Millennials, or America’s youth born between 1982 and 2000, account for 83.1 million and represent more than one quarter of the nation’s population according to the 2015 U.S. Census Bureau estimates. Their size exceeds that of the 75.4 million baby boomers and they are more diverse than the generations that preceded them, with 44.2 percent being part of a minority race or ethnic group. Students conducted primary research using a variety of different methodologies and presented data-driven recommendations for new initiatives aimed at improving both the engagement and retention of millennials with GEICO.
First place winners for the GEICO case study competitions included Joseph Marrone, Alessandra Villano, Valentina Corasaniti, Alec Eisenberg, Giana Horvath, Maegan Juul and Caitlyn McGovern.
“It is extremely rewarding to work with Zarb students. Their recommendations are fresh ideas filled with creativity and executability. Not only is their data detailed and comprehensive but their deliverables are measurable. GEICO is proud to partner with faculty on case studies such as these as this provides valuable information to GEICO while also contributing to experiential learning opportunities for students that they can utilize in their future careers,” stated Jeannie Toscano, regional college recruiter, GEICO.