Geico launched MyGreatRides at least partly to learn about its market. Companies increasingly are finding that social networks can provide valuable information on customers they want to reach. Geico would not say what percentage of its policyholders are motorcycle riders.
"If we can learn more about the needs of motorcycle riders and what kind of service they expect, we think it will help us with our current customers and potential ones," Kirk La, director of Geico's motorcycle products, wrote in an e-mail Friday.
Motorcycle riders have long had to pay far more for insurance than automobile drivers. Geico built its business on insuring safe drivers but now insures higher-risk drivers. That includes older motorcycle riders, the fastest-growing group of owners.
Source: Lincoln Minor