Equitable Life Insurance Company of Canada

www.equitable.ca
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Equitable Life Insurance Company of Canada Reviews

Updated November 9, 2014
Updated November 9, 2014
10 Reviews
3.1
10 Reviews
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Recommend to a friend
Approve of CEO
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Ronald Beettam
3 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    Wonderful company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Group Administration Specialist in Waterloo, ON (Canada)
    Current Employee - Group Administration Specialist in Waterloo, ON (Canada)

    I have been working at Equitable Life Insurance Company of Canada full-time (less than a year)

    Pros

    Friendly environment
    Work as a team

    Cons

    Not much room to vertically advance

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Experience at Equitable

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

    I have been working at Equitable Life Insurance Company of Canada full-time (more than 3 years)

    Pros

    Equitable Life values work-life balance by providing a flexible work schedule to employees. People in the company are friendly and willing to help. Because the company is small an individual has the chance to work on many different tasks rather than being specialized on one particular task. There is less bureaucracy compared to other companies so that tasks get done faster. Equitable is an excellent corporate citizen with a strong culture of volunteerism and charity. Several events are organized during the year. Finally, Equitable provides an excellent benefits package to its employees.

    Cons

    Because the company is small it is harder for an employee to obtain a promotion. One may feel that at times, people are strongly encouraged to participate in a charity event.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Web developer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Web Developer in Waterloo, ON (Canada)
    Former Employee - Web Developer in Waterloo, ON (Canada)

    I worked at Equitable Life Insurance Company of Canada full-time (less than a year)

    Pros

    Latest tools are available to work with

    Cons

    The Agile process is never fully explained

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
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  5.  

    This move was a huge mistake.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wholesaler in Toronto, ON (Canada)
    Current Employee - Wholesaler in Toronto, ON (Canada)

    I have been working at Equitable Life Insurance Company of Canada full-time (less than a year)

    Pros

    It is a small company. So you get to have good job variety. ie) none of the support the role would have with another firm. There whole life product is very good ... and they are still a mutual company.

    Cons

    Senior management needs to move on ... at the highest levels. This company is very small in comparison to its competitors. As a result to drive sales they bought business with high comp products and MGAs that wouldn't have been able to get contracts anywhere else. They have literally lost millions of dollars with less than ethical sales practices and advisors. And now they are making things worse by terminating MGAs and advisors.

    Advice to ManagementAdvice

    This company can't survive. Their investment products are so uncompetitive. And while the whole life is good, they are a tier 3 company who can't win over any serious MGA or established advisors. They have been terminating advisor contracts very quickly, often without valid reasons, and word is spreading. They will not be able to compete as economies of scale become more important. They need to demutualize and sell.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Bad leadership which leads to awful work environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Waterloo, ON (Canada)
    Former Employee - Anonymous Employee in Waterloo, ON (Canada)

    I worked at Equitable Life Insurance Company of Canada full-time

    Pros

    None really, unless you like cleaning up years of mismanagement and dealing with the same leaders that created the mess.

    Cons

    Senior leadership team (President and management team reporting to President) have several very BAD members; some are laughing stock of the employee base. These bad senior leaders are destroying the company; they stifle employee moral, they make bad business decisions, they drive good people out of the company, and justify their own existence through a fear through position management style (“I’m the boss, do what I say, or else!”).

    Company has illusions of grandeur; believe they can be innovative in product development yet they cannot even copy competitor’s products after several years. Worse still they attempt convince employees they are first to market, but lack of understanding of marketplace further proves leaderships inability to properly lead.

    Pay for new staff is generally well above existing staff pay; which just means that new staff will eventually be brought below market levels overtime. Very little promotion of employees, which may in part be due to very little investment in training of staff (though they will counter they do, but if you compare to competitors it would be less than 10% spend per employee). Benefits are very bad.

    Office is dirty, has very old and often broken office furniture, though top leaders have nice new offices that take up 10% of the space for their 100th of the employee proportion.

    I would strongly caution any candidate considering a role at the company.

    Advice to ManagementAdvice

    To the few good management team members, don't let you weak counterparts get away with their actions. Demand the Board intervene!

    Doesn't Recommend
    Negative Outlook
  7.  

    Great place to work - good environment, real opportunity to make a difference.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Waterloo, ON (Canada)
    Current Employee - Anonymous Employee in Waterloo, ON (Canada)

    I have been working at Equitable Life Insurance Company of Canada

    Pros

    Opportunity to make an impact, management willing to listen, good access to senior management.

    Cons

    Smaller company so scale of some work is limited.

    Recommends
  8.  

    The people were great and I learned a lot

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Co-Op Student
    Former Employee - Co-Op Student

    I worked at Equitable Life Insurance Company of Canada

    Pros

    Good people, always a lot to do (busy is better than being bored), good atmosphere

    Cons

    Not enough interaction between teams

    Advice to ManagementAdvice

    None.

  9. 1 person found this helpful  

    Not what I thought

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

    I have been working at Equitable Life Insurance Company of Canada

    Pros

    I moved over from another insurance company because I heard good things. Mostly good people. pay and benefits are fair. Good location and free parking. Future of company seems to be solid. Probably really good place to be if getting close to retirement. Onsite cafeteria food isnt great but convenient to have. I think parts of the company are really good but I just have challenges in my area.

    Cons

    This isnt the team for me. In our areat we have "shhh" signs around and get shhh'd by people even if we are talking about a work issue. I haven't seen this since my library at public school. I wish opco senior management would be more visible. My experiences with both my supervisor and manager have been terrible. I suggested a process improvement idea and my supervisor said it had to come through them. Things are often held over our head like "we should feel lucky to have our upcoming fun day" or that we better stop asking about more dress-down days. We were told we might lose our existing one every two weeks if we didn't stop. I really dont know what it takes to get a promotion as when I talked with my supervisor it was always about needing "5 years" of experience and never about what we can do.

    Advice to ManagementAdvice

    Take better care of your people and give some opportunity for growth and development. This bird is going to fly to another tree very soon because its not fun in this one.

    Doesn't Recommend
  10. 2 people found this helpful  

    Continuing to move towards being great

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

    I have been working at Equitable Life Insurance Company of Canada

    Pros

    In comparison to many of the other stuffy, super conservative life insurers in Canada, Equitable has been making some inroads. The level of politics, the rat-race, and the dog-eat-dog mentality is generally better than peers (far better than most). The compensation is very fair. Expectations are high - challenging, but not impossible. Pride in the company is very strong and quite contagious. Senior Management is generally very approachable (although a bit on the shy side?) Tremendously capable quantity/quality of people in the mid-to-upper management ranks for the most part - including some very progressive thinkers. Strong leveraging of technology for an organization of this size - aren't buried in a myriad of conflicting systems.

    Cons

    Based on the size of the company we should be able to move further and faster from a culture perspective. There is an industry opportunity to be a 'less-traditional' life insurer and Equitable should be the one. People management capabilities are acceptable, but dated - HR policy tends to be behind where we, as a medium-sized, high-capability organization should be. We do lack a "rah-rah" people leader - a "Chief Morale Officer" type of person.

    Advice to ManagementAdvice

    Get out in front of the people in an engaging, morale boosting manner. We aren't buried in bureaucracy and should leverage that to kick it to the next level.

    Recommends
  11. 1 person found this helpful  

    I wish I had never left.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Systems Specialist in Waterloo, ON (Canada)
    Former Employee - Systems Specialist in Waterloo, ON (Canada)

    I worked at Equitable Life Insurance Company of Canada

    Pros

    Good pay, good benefits, comfortable work environment, and senior management very committed to continuous improvement, such as when they brought in Tatham Group for a 5-year process re-engineering project involving all employees at every level.

    Cons

    They are a bit behind the rest of the pack when it comes to technology...the last to get a website for insurers to file automated claims. This can be a tad embarrassing when you must be the face of the company and field calls from plan members. But they are catching up fast.

    Advice to ManagementAdvice

    Listen more to the users of the new system regarding all the bugs that need ironing out.

    Recommends

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