Federated Insurance

  www.federatedinsurance.com
  www.federatedinsurance.com
There are newer employer reviews for Federated Insurance

 

Great Company but you have to be 100% committed or you will fail

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

I worked at Federated Insurance full-time (more than an year)

Pros

The have the best training in the industry hand down. Starting Salary for a Marketing Rep is amazing for someone just out of college. The benefits and retirement package are top notch. The invest a lot of money in their employees and do not want to see you fail. The have industry recommendations which definitely give you a foot in the door when cold calling and cultivating prospects. I very much enjoyed my management and the people I worked with in my District. They have wonderful incentives trips to Hawaii/Australia, cruises, etc.

Cons

They have some out of date practice. They are slow to change. Unfortunately, being a direct writer underwriting has all the control. Federated's underwriting standards and documents required just to quote is absolutely over kill and scares a lot of prospects. Our rates were out of the ball game 19/20 times. The have been giving large increases on customers that have been with us for 10+ years with no claims. Like I said you have to be completely committed to sales and insurance, if you have any reservations do not take the job. If you go through the longer training program you have no certainty of where you will be placed. I was hired out of one city and was put in a city over 3 hours from where I initially thought I would be hired, killed my motivation a little right there.

Advice to ManagementAdvice

Get with the times, use technology better. Trust the marketing reps a little more and you will be much more profitable. Get rid of the old laptops and move to tablets it will be much more effective for your reps.

Recommends
Neutral Outlook
No opinion of CEO

43 Other Employee Reviews for Federated Insurance (View Most Recent)

Sort: Rating Date
  1. 1 person found this helpful  

    Very poor place to work!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Claims in Owatonna, MN
    Former Employee - Claims in Owatonna, MN

    I worked at Federated Insurance full-time (more than 10 years)

    Pros

    Many very excellent employees - small town atmospere - great town to raise kids. Good (not great)benefit package overall.

    Cons

    Culture is toxic - leadership is by fear and intimidation rather than by inspiration. There is no opportunity to rise to the senior management level for Underwriters, Claims Adjusters, HR, IT, Loss Control etc... as all major functions are headed by a Marketer or former Marketer. Employee's are viewed as a liability vs. an asset even though lip service is give to the latter concept. No true innovation is possible as senior managemt will broker no opinions or views different than their own - their attitude is "my way or the highway" (and they mean it!). Very poor communication from the top - no accountability to the owners of this "Mutual Company" who are the policyholders.

    While starting pay is on par with the competition, salary increases are difficult to obtain and measly at best. Bonus' are very small for this wealthy of a company except to a very few (senior management and a select few favorites). Lot's of cronyism and favortism - very much the typical "good old white boys club". In this organization, raises and promotions rely much more on "playing the game" and who you know than how hard you work or how good you are at your job. Performance evaluations are completed on the Jack Welch model (get rid of 10-20% each year) which is fine in a production setting where productivity is easily objectively measured, but does not work well in a company where most of the measurement is subjective (major catagories of the yearly performance review are "Passion" and "Energy" - how can you even begin to objectively measure that!). Managers of even the smallest units are forced to designate someone as "needs improvement" (a professional death sentence) without regard to whether that person exists or not.

    Advice to ManagementAdvice

    Internal company Board of Directors members should be replaced with external independent & objective members who will truly hold senior managment accountable and improve communications with the policyholders who "own" a mutual company as well as the employees. Add senior managment members from outside the organization to reduce cronyism and favortism and allow true innovation to ocur without fear of repercussion. Treat employee's as the "asset" they are instead of simply paying lip service to this concept.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Great commissions but terrible management. Idiots

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Marketing Representative in Birmingham, AL
    Former Employee - Marketing Representative in Birmingham, AL

    I worked at Federated Insurance

    Pros

    Commissions were great but too much emphasis is put on life insurance

    Cons

    Too many management levels. Pushing paper and doing reports does not make anyone happy or make anyone money. Some programs will not work so stop trying

    Advice to ManagementAdvice

    Hire management from outside the company. Don't just fill spot with a warm body. Managers are idiots

    Recommends
    No opinion of CEO
There are newer employer reviews for Federated Insurance

Work at Federated Insurance? Share Your Experiences

Federated Insurance

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.