LEO GOODWIN

LEO GOODWIN

Leo Goodwin was born in 1886,Missouri.His father was a doctor by profession and used to travel on horses to see his patients.Leo by profession is a business men,philanthropist and founder of GEICO.

Leo completed his education as a accountant entered insurance business in San Antonia,Texas. As he became more experienced in the field of business , he came to a conclusion that industry could better serve its costumers and reduce costs by eliminating sales commission to produce premiums and directly dealing with policy holders.With this vision he founded Government employes insurance company(GIECO) in 1936.

In 1940.company experienced the taste of profit . In 1948,GIECO became publicly owned an today it has assets of $7.3 billion.

By the end of 1936, 3700 GIECO policies were in force with the 12 staff working in the company.

He believed that " if he lowered the cost in the company by marketing directly to the customers then he would be able to pass lower premiums and still can earn profits.

Leo and his wife used to work 12 hours a day to standardize the company.

In 2001, his name was given to the Insurance Hall of the Fame .

Leo was a large donor to Nova Southeastern University and he was considered as one of the primary founders .

Building that contains the University law school i,e Shepard Broad Law Center is housed in Leo Goodwin hall which is named for generous entrepreneur and visionary who was committed to advancement of education and research.

In shepard Board law center distinguished invites and legal scholars spend time to teach a seminar with the members of law center faculty,students and alumini.  

GIECO is third biggest direct writer of private auto insurance in America.