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1 person found this helpful  

Consistent Growth, Employee Empowerment are Commonplace

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Anonymous Employee  in  Glen Allen, VA
Current Employee - Anonymous Employee in Glen Allen, VA

I have been working at Markel

Pros

Markel has an extremely long, and consistent record of profitability. Even in soft economic markets, Markel Venture's financial investments have proven to be extremely well-made, and compensate for underwriting losses or overhead costs-- which are consistent concerns industry-wide. The company has an excellent employee-development program which allows for semi-autonomous decision making concerning the direction that employees wish their career to go. The famous "Markel Style" also promotes humility, flexibility, innovation, ethical behavior above as core values. I personally find this a refreshing corporate culture.

Cons

Because the organization is so vast and has a great deal of different business units, cross-training or developing an in-depth knowledge of the organization can be time-consuming. The recent initiative to consolidate and stream-line/centralize many processes has helped to cut overhead costs and improve efficiency, which will improve this.

Advice to ManagementAdvice

Markel has a consistent record of profitable, stable growth. Though others in the industry may criticize the rate of growth, I personally Markel's conservative approach to be the best approach, given current market conditions. Keep doing what you're doing, and know that your employees appreciate your expertise and excellent leadership.

Recommends
Approves of CEO

14 Other Employee Reviews for Markel (View Most Recent)

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  1. 1 person found this helpful  

    Great place to work!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA

    I have been working at Markel

    Pros

    The hours are relaxed and there's a familial nature in the work environment. There's a concerted focus by management on longevity and growth. Markel is a great place to work for insurance professionals as there are multiple opportunities for professional growth and development as well as career advancement.

    Cons

    The employee demographics do not lend favorably towards a young ambitious under-30 type. Although co-workers were overly friendly and approachable, it was difficult to develop any real chemistry.

    Advice to ManagementAdvice

    Take a hard look at the corporate age-structure and continue to think in terms of long-run growth. Increase college recruiting efforts.

    Recommends
    Approves of CEO
  2. 1 person found this helpful  

    Changes Hurt Customers and Employees

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

    I worked at Markel full-time

    Pros

    Not aware of any current pros...

    Cons

    Company replaced entire senior product and division management team in 2009 after they generated significant profits for firm over the past 20 years. Markel continues to collect profits from the business created by these former leaders. New management is untested at Markel and has changed many of the characteristics that made Markel and market leader. Customers have also felt changes in relationships with negative impact. For example, Markel recently fired three underwriters in Chicago, but offers a bonus to employees for referring new employees and has numerous underwriting openings throughout the country. What does this mean to the customer? Not much respect for how these changes in staff and service impact them.

    Advice to ManagementAdvice

    Stop acting like a big company and try to return to the philosophy and practices that made you a market leader for many years.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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