Full-Time

Procurement

Category Management

Confirmed live in the last 24 hours

Geico

Geico

10,001+ employees

Direct-to-consumer auto and home insurance provider

Financial Services

Compensation Overview

$93k - $154kAnnually

Mid

No H1B Sponsorship

Chicago, IL, USA + 2 more

More locations: New York, NY, USA | Bethesda, MD, USA

Hybrid - Requires onsite presence 3-4 days per week.

Category
Procurement & Sourcing
Operations & Logistics
Requirements
  • Bachelor’s degree or military experience preferred
  • 3-5 years of experience in marketing, product, or real estate business sector
  • Strong problem solving, critical thinking, and analytical skills
  • Proven track record of identifying and implementing improvements to business processes
  • Experience negotiating contracts, including professional services
  • Experience with ensuring customer requirements are met during the negotiation process
  • Experience communicating with senior management and responding to their inquiries and requests
  • Excellent communication and time management skills; able to communicate contract issues to diverse audiences
  • Provide problem-solving and innovative ideas to support internal customers
  • Demonstrated ability to negotiate with vendors to more effectively position GEICO to receive the best value proposals for the corporation
Responsibilities
  • Contract SME for all new and “Key” incumbent renewal contracts for their supplier
  • Works closely with internal team members establishing and maintaining relationships with internal business partners to ensure products and services align with Geico’s information security protocols and domain target architectures
  • Identify value-generating opportunities (e.g., savings, efficiencies, or revenue growth) within supplier engagements, licensing models, or services
  • Comfortable leading RFx events to build leverage with GEICO suppliers and deliver more favorable pricing and contract terms
  • Lead contract negotiations in alignment with Geico contract processes, policies, and procedures
  • Partner with internal risk groups to ensure third party relationships are compliant with all relevant policies and procedures
  • Monitor and ensure successful delivery against third party contractual obligations, including management of SLAs, True-ups, notification windows, etc.
  • Lead execution of policy requirements for managed third-party relationships
  • Plan and lead periodic risk reviews and assessments of supplier relationships

GEICO provides a range of insurance products, with a primary focus on auto insurance. The company sells policies directly to consumers, which allows them to offer lower rates by eliminating intermediaries like brokers. Customers can obtain quotes, manage their policies, and file claims through GEICO's user-friendly website. In addition to auto insurance, GEICO also covers motorcycles, ATVs, RVs, as well as home and renters insurance. What sets GEICO apart from its competitors is its strong online presence and memorable advertising campaigns that enhance brand recognition and customer loyalty. The company's goal is to simplify the insurance process for its customers while providing competitive rates and comprehensive coverage options.

Company Stage

Acquired

Total Funding

N/A

Headquarters

Tulsa, Oklahoma

Founded

N/A

Simplify Jobs

Simplify's Take

What believers are saying

  • GEICO's strong financial performance, as evidenced by its recent $1.78 billion profit in Q2, indicates robust business health and growth potential.
  • The company's new fan engagement platform with MLB could enhance brand visibility and customer engagement.
  • Recognition of military service members through awards highlights GEICO's commitment to community and social responsibility, potentially attracting a loyal customer base.

What critics are saying

  • Allegations of discriminatory practices and ongoing legal challenges could damage GEICO's reputation and lead to financial penalties.
  • The competitive landscape in the insurance industry, with strong players like State Farm and Progressive, requires continuous innovation to maintain market share.

What makes Geico unique

  • GEICO's direct-to-consumer model allows it to offer competitive rates by eliminating intermediaries, unlike many traditional insurance companies.
  • The company's extensive online presence and user-friendly website provide a seamless customer experience for managing policies and filing claims, setting it apart from competitors.
  • GEICO's memorable advertising campaigns have significantly boosted brand recognition and customer loyalty, a competitive edge in the crowded insurance market.

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