Bankers Conseco

  www.bankersconseco.com
  www.bankersconseco.com

Bankers Conseco Reviews

Updated December 17, 2014
Updated December 17, 2014
14 Reviews
2.3
14 Reviews
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  1.  

    Company which prides themselves on training

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent in Brooklyn, NY
    Former Employee - Insurance Agent in Brooklyn, NY

    I worked at Bankers Conseco as a contractor (less than an year)

    Pros

    Great management team that was concern about personal growth of agents, willing to go the extra mile in terms of hands on training.

    Cons

    Commission based job which has a lot of charge-backs and not necessarily the safest job considering both traveling and various people you come in contact with.

    Advice to ManagementAdvice

    Do consider having pairs on a consistent basis.

    Recommends
  2.  

    Cold calling most days to set up appointments to meet and sell insurance to elderly people who can ill afford it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Sales Person in East Fishkill, NY
    Former Employee - Sales Person in East Fishkill, NY

    I worked at Bankers Conseco

    Pros

    Reasonably good training, although you have to pay for most of the initial training yourself(apparently the company reimburses you for these costs once you reach a certain sales goal.....)weekly free training continues once in the office.

    Cons

    Lots of pressure to make numerous cold calls using overused leads. Main thrust of business is hard selling to the elderly in our community......arranging appointments on the pretext of giving them 'free advice' on Medicare whilst really trying to assess them for suitability for various insurance products ranging from small term life policies to Medicare cost supplement policies. Also attempting to identify financial assets in their possession in order to attempt to move them over into a comparable Bankers vehicle. Most leads you call have been called numerous times by other bankers people!!

    Advice to ManagementAdvice

    Dump the rigid phone scripts where you are not permitted to say the word insurance and allow people to be honest, therefore saving on wasted time both on the part of the salesperson and the potential customer.

    Doesn't Recommend
    Neutral Outlook
  3.  

    Great Office Culture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent
    Former Employee - Insurance Agent

    I worked at Bankers Conseco full-time (more than 3 years)

    Pros

    The supervisors and manger cared about helping to try and grow everyone's business. To become successful and to help everyone achieve their reason why they were there. They treat everyone like family and instill when you do this business you top concern is you treat your clients like family and make you sure you help them and educate them.

    Cons

    Not everyone is cut out to do this business. There are ups and downs and sometimes its not always consistent.

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  5.  

    Challenging but great learning experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Agent in Cincinnati, OH
    Current Employee - Insurance Agent in Cincinnati, OH

    I have been working at Bankers Conseco full-time (less than an year)

    Pros

    Room for growth and independence

    Cons

    Inconsistent income with no draw or base pay

    Recommends
    Positive Outlook
  6.  

    Great potential if you have a financial nest egg already

    Former Employee - Anonymous Employee in White Plains, NY
    Former Employee - Anonymous Employee in White Plains, NY

    I worked at Bankers Conseco as a contractor (less than an year)

    Pros

    Coworkers were very nice and you work on your own schedule. Only in office 2 days a week

    Cons

    Training is rushed. Manager sells a beautiful dream during a group presentation but once you are finished with training it is like you don't exist.

    Advice to ManagementAdvice

    Be completely honest about the position...it would eliminate your high percentage of employees that quit after one month

    Doesn't Recommend
    Negative Outlook
  7.  

    Circus

    • Comp & Benefits
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bankers Conseco

    Pros

    They hire just about anyone.

    Cons

    They hire anyone. Many promises never kept about getting someone started with the company. "Free training" is not free when you end up having to pay for it. Poor business system setup with no real leadership in Buffalo office. Crazy turn over.

    Doesn't Recommend
    Negative Outlook
  8. 2 people found this helpful  

    A lot of people left the company because of bad management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Applications Developer in Chicago, IL
    Former Employee - Applications Developer in Chicago, IL

    I worked at Bankers Conseco full-time (more than 5 years)

    Pros

    Location is the best - great downtown Chicago view

    Cons

    Bad management. All they care about is their own job stability and advancement. Very stressful work environment. Some managers are proud of making people be scared of them. Often they are rude, senseless, authoritative.

    Advice to ManagementAdvice

    Management should treat employees with respect.

    Doesn't Recommend
    Neutral Outlook
  9. 1 person found this helpful  

    Great Company, por employee support

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent in Islandia, NY
    Former Employee - Insurance Agent in Islandia, NY

    I worked at Bankers Conseco full-time (less than an year)

    Pros

    Co-workers and the environment is great. Very laid back, work on your own schedule. Excellent training program. Decent target market

    Cons

    Very low income potential, products generate very small commissions. Company charges each employee $200/month after your first 3 months to supplement leads and office supplies

    Advice to ManagementAdvice

    Don't charge $200/month

    Doesn't Recommend
    Neutral Outlook
  10. 3 people found this helpful  

    Sleazy Operators in an Unheard Of Small Time Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Sales Agent in Islandia, NY
    Former Employee - Sales Agent in Islandia, NY

    I worked at Bankers Conseco full-time (less than an year)

    Pros

    Purport to offer unlimited commission-based opportunities. Laughable once you work there.

    Cons

    All costs are borne by the sales force. You are therefore disposable. Two part office culture - the over vs under 90 day staffs. One year retention rate (did my own informal count with numbers from the office's stats sheets) is about 8-10%. ALERT: will re-issue new replacement policies to every, that's right, every policy holder you sold to immediately after you leave. Underhanded business tactic! That results in large parts of your commissions (your only income) being charged back. If you don't accept their strong arm recovery, threaten legal action via bottom-feeding collections firm Caine and Weiner of Schaumberg Ill.

    Advice to ManagementAdvice

    Operate fairly. Stop recycling leads to the point that people yell about "I called the 800 number once months ago for information and you call me every other week!" End practice of stealing back honest earnings through post-employment chargebacks. Advertise so potential clients have heard of you: you are competing with beloved AARP for crying out loud!

    Doesn't Recommend
    Negative Outlook
  11. 1 person found this helpful  

    Used to be a great place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Systems Analyst in Chicago, IL
    Former Employee - Systems Analyst in Chicago, IL

    I worked at Bankers Conseco full-time (more than 5 years)

    Pros

    Good enviroroment, friendly co-workers on the Bankers side.

    Cons

    Very poor middle mangment.... it went way downhill after Bankers management was replaced by Conseco Managment. Saleries in Chicago were higher than in Indiana due of the cost of living. In my case, Conseco middle managment failed to acknowleded this and was very spitefull.

    Advice to ManagementAdvice

    Revise your HR practices. I did not even get and exit interview after resigning!

    Doesn't Recommend
    Neutral Outlook

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