Farm Bureau Financial Services

www.fbfs.com
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Farm Bureau Financial Services Reviews

Updated February 23, 2015
Updated February 23, 2015
40 Reviews
3.4
40 Reviews
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James Brannen
1 Rating

Employee Reviews

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  1.  

    I have been here over 20+ years along with many employees. The company treats its people right.

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

    I have been working at Farm Bureau Financial Services full-time (more than 10 years)

    Pros

    I have been able to grow in my position. I have a lot of latitude and a wide range of duties which I like.

    Cons

    Management is all white males and lacks diversity but they are working on changing that. I'd like to see people have opportunities to rotate throughout the company from Life to PC from underwriting to claims and learn more about the company.

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Solid company that comes with mixed blessings

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

    I worked at Farm Bureau Financial Services as a contractor (more than 3 years)

    Pros

    Outstanding, comprehensive initial training, especially for those new to the insurance field.
    Very competitive new agent contract.
    Excellent insurance offerings, although the 'uniqueness' of some features is oversold as they can be found in many other places as well.
    This is an excellent INSURANCE company with superb claims service...........after all, isn't that why we all buy insurance in the first place?

    Cons

    This is a membership-focused organization and assesses an annual membership fee for all property-casualty customers. While the fee itself is insignificant, it adds one more potential objection point when trying to close a sale. Annual membership renewal invoices can cause existing clients to consider shopping around again rather than just letting policies renew even if they have no other reason to change.

    The membership focus goes all the way down to agent evaluation. An agent who solicits an apartment complex and brings in 10 new members with a $100/yr rental policy each ($1000 annual premium) will be a star, while another who brings in 3 new members with home/auto/umbrella packaged policies worth $ 9000 annual premium will be on the cut list due to lack of memberships.

    Farm Bureau's core competency is in the rural/agricultural market and nobody does it better. Their offerings and pricing in a suburban/city market are not so competitive, and they suffer significant lack of name/brand recognition in those markets. Don't expect to compete on equal footing with your competition in affluent suburban markets.

    Not a 'con' as much as an observation.........Farm Bureau is first and foremost a life insurance company and emphasis on life insurance sales is also very high. Although everyone needs life insurance it takes a special mindset to be successful selling it, and not everybody is comfortable doing so. If you are a property-casualty type of person there may be better fits for you.

    Back office systems are behind the technological curve in many instances.

    Advice to ManagementAdvice

    Find a way to keep the membership organization tail from wagging the insurance company dog. Maybe you could do that by just including the membership fee in your policy premium rather than itemizing it and giving clients one more reason not to buy or renew.

    Either stick to your core competency (rural/agricultural) or sharpen your suburban market offerings and increase name recognition. Find something of value to go with the membership for suburban clients who don't have any interest in Grass and Grain magazine.

    Consider allowing agents to specialize in P/C or Life rather than forcing all agents to do both.

    Modernize business systems to bring them up to industry standards.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Good Company but

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

    I have been working at Farm Bureau Financial Services

    Pros

    Nice people... good ethics.... solid company financials

    Cons

    OLD outdated systems and the people as well. Takes forever to get an answer from an underwriter.

    Advice to ManagementAdvice

    They are in process of hiring all new management, hard to tell if it is working.

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

    Lead Generator

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Lead Generator in Logan, UT
    Former Contractor - Lead Generator in Logan, UT

    I worked at Farm Bureau Financial Services as a contractor (less than a year)

    Pros

    The position affords the opportunity to gain direct sales experience.
    During the winter, management increased the pay scale by 20 percent.
    Management worked around my school schedule.
    It was a low pressure sales environment.

    Cons

    The only con of working at Farm Bureau in this role was :streams of revenue was unstable due to the nature of working on commission.

    Advice to ManagementAdvice

    Management was very considerate and willing to allow a person such as myself to gain much needed work experience.

    Recommends
    Positive Outlook
  6.  

    Very rewarding career, can be challenging but very rewarding and great company backing.

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

    I have been working at Farm Bureau Financial Services full-time

    Pros

    Company is willing to pay new hires like they have been in the business for many years.
    Company treats its customers the right way.
    Great work life balance.

    Cons

    Lots of competition in the insurance world.
    Premium is not intended to be cheapest out there so you have to sell value.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Ok place to work at

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Manhattan, KS
    Former Employee - Anonymous Employee in Manhattan, KS

    I worked at Farm Bureau Financial Services full-time (more than 5 years)

    Pros

    Mostly nice people to work with, and an ok environment. decent product to offer clients. is proactive in offering educational opportunities. had a decent cafeteria - not sure if still present.

    Cons

    meddlesome middle management. Pay is poor, but being in a college town will do that. not always committed to doing what's right, instead does what's easy at times.

    Advice to ManagementAdvice

    You get what you pay for. Trust those on the front lines more. Continue the focus on educational opportunities. Don't be afraid to take chances.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8.  

    made it about 1 year and 9 months which was longer then 14 of the 18 i went through 2 month training class with

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

    I worked at Farm Bureau Financial Services full-time (more than a year)

    Pros

    Training was excellent at Farm Bureau 1st year commissions were very generous

    Cons

    Price is a big obstacle here despite the upper managements rap.

    Advice to ManagementAdvice

    I think upper management is well aware of the challenges to the new agents many of them still shave comfortably ever morning when they wake up in their big beautiful homes focusing on the few that can make it a career. My class was 0 out of 18. You better be a strong marketer with a master plan and an existing customer base that loves you or you will go away too.

    Doesn't Recommend
  9.  

    Comany changes goals and does not fully disclose contract info

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

    I worked at Farm Bureau Financial Services as a contractor

    Pros

    Great oportunity to learn and continue education

    Cons

    Lack of support form management and tough products to sell

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Employer Review

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Farm Bureau Financial Services

    Pros

    Positive, collaborative working environment with room to grow.

    Cons

    I honestly can't think of anything negative.

  11.  

    Administrative Assistant

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

    I have been working at Farm Bureau Financial Services part-time

    Pros

    Flexibility. Very fun work environment.

    Cons

    Work is rarely consistent. Wish there was more training.

    Recommends
    Positive Outlook
    Approves of CEO

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