Federated Insurance Reviews

Updated July 9, 2015
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3.5
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Jeffrey E. Fetters
31 Ratings

Pros
  • Great training program, family atmosphere (in 8 reviews)

  • Some of the best training in the industry (in 3 reviews)

Cons
  • Upper management will always be from a marketing/sales side of the company (in 4 reviews)

More Pros and Cons

54 Employee Reviews

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  1. Great place to work

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

    I have been working at Federated Insurance

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Strong salary and benefits Flexible schedule Uncapped commission Growth opportunity

    Cons

    will not be the right fit for everyone

    Advice to Management

    None


  2. Marketing Representative

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

    I worked at Federated Insurance full-time (More than 8 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Good training and support. Excellent for learning the industry and honing skills. Sales incentives are nice and unlimited earning potential is there (kind of).

    Cons

    Limited market which leads to limited opportunity in certain areas (look for turnover). High end value oriented which means your prices are higher than everyone. This is not a good scenario when businesses are not flourishing do to economic pressure. Corporate attitude is a bit greedy towards the customer - will max out debits to get more premium on loyal accounts regardless of any claims history (I saw 30% - 75% increases at times on accounts with zero claims). The health insurance is absolutely horrible in some areas. Basically self insured with a card that says you have coverage (not in all states). The expense reimbursement program is a sham. They take money from your regular pay and force you to fill out reimbursement forms to get it back. If you don't have enough expenses then you LOSE your money! It forces people to LIE on their forms so then can get their own money back. It benefits the corporation so they do it anyway. TONS of pressure to sell life and disability insurance. It became the primary focus for most of the year and was very stressful.

    Advice to Management

    Don't be so greedy. Allow more premium flexibility so marketers can build a sustainable base for a long career. I earned more than 7 top incentive trips and was a leader in the company but 2 years of hard core underwriting and greedy behavior drove off my base and it became a $50k per yr job with angry prospects. Not a good recipe for long term success.


  3. Marketing/Sales

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

    I worked at Federated Insurance full-time (More than 3 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Friendly, company tries to make you feel part of a team. Tend to send marketing reps gifts for special events while you are new.

    Cons

    Company is quick to let you go if you fall short on a quota. Mgmt. doesn't push additional training, tend to think this is an advantage to you if you quit.


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  5. Marketing Representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales and Marketing Representative in Columbus, OH
    Current Employee - Sales and Marketing Representative in Columbus, OH

    I have been working at Federated Insurance full-time (More than 3 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Compensation, flexibility, base salary, commission structure, protected territory, training program. Great product, selling directly to A level business owners. Dealing with them protecting their business in all facets of risk management. 85k first year average, 162k company average. The structure is there, training and support is there, need to go do your job.

    Cons

    First few months on job can be tough. Will face rejection. Must build quality relationships and have thick skin at first. The rewards are there.

    Advice to Management

    Keep recognizing and supporting marketing representatives. It's a tough job but a very rewarding job.


  6. Great Company - Bad Management

    Former Employee - Claims Representative in Overland Park, KS
    Former Employee - Claims Representative in Overland Park, KS

    I worked at Federated Insurance full-time (More than 3 years)

    Recommends
    Negative Outlook
    Approves of CEO
    Recommends
    Negative Outlook
    Approves of CEO

    Pros

    The company has adopted a really solid business model by targeting niche accounts. Towards the end of my career there they started to make a shift to start going after larger business which I feel is a move in the wrong direction and that they should stay true to their roots by targeting mom and pop businesses.

    Cons

    Management was non existent.

    Advice to Management

    Address internal issues in the office head on rather than trying to gather a bunch of evidence on someone and then throw it all at them during their annual performance review.


  7. Helpful (1)

    Marketing Rep

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

    I have been working at Federated Insurance

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

    Pros

    can make good money fast

    Cons

    they feed you a lot of numbers that aren't so accurate

    Advice to Management

    Management is very sensitive and protective of their area. Don't think you are going to move around to any other territory.


  8. Claims Analyst

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

    I have been working at Federated Insurance full-time

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Good experience can be gained here as they have a good training program. After you complete the program and are hired, it is easy to be hired by another company for more pay and better working environment.

    Cons

    Terrible management. Some of the management that have been there for years do not have the updated training to do their job properly. No recognition for a job well done, ever. Constant criticism to everyone about how to do your job differently.

    Advice to Management

    Stop thinking your way is the only way.


  9. Marketing Representative

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

    I worked at Federated Insurance

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    --Education (Pre & Post) --Service Support --Management --Compensation

    Cons

    --Antiquated Marketing/Sales Practices --Frequent Noncompetitive Product Pricing

    Advice to Management

    This company would be unstoppable IF they found a way to couple their high product integrity & professional service with modern digital marketing techniques/processes. Please consider that when I directly asked 10+ marketers if they would take a salary pay cut for more competitive pricing on prospective business, they all said yes. You hire good people; give them the chance to prove it.


  10. Helpful (1)

    Great for SOME, Average for MOST.

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

    I worked at Federated Insurance full-time (More than 5 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great management. Fantastic culture of recognition. Good training.

    Cons

    Very average pay (SERIOUSLY, I know they painted a beautiful picture, but keep reading the full review). In the interview, when they show you "AVERAGE PAY" for a marketing rep, you MUST KNOW THIS: There are a handful of reps who make about millions/year and this throws off the numbers CONSIDERABLY. I was told that one of these "super reps" lives in the same neighborhood as Prince. You need to have 3 things to make that "average" number. EVEN IF YOU ARE AN "ABOVE AVERAGE" rep. I earned Chairman's Council many years in a row and made less than HALF of the AVERAGE pay that they tout in the interviews. You need THREE things to make the real money. 1) Activity 2) Talent 3) Luck... yes, you need to be in a territory that has the right kinds of large accounts that will end up paying the large commissions. Some have it, most don't. Think that's garbage or sour grapes? If I hadn't lived it, I would think that was garbage too. We make our own luck in sales, right? Yes.... but you can't make petroleum accounts appear where there are not any within a territory. You can't make million dollar premium machine shops appear where there are not any. There ARE differences from territory to territory. You need an above average territory for above average pay... it was a tough lesson for me to learn, even after earning multiple Chairman's Councils in a row. I made a fraction of the "average pay" for a rep. Also, know that the underwriting appetite changes constantly. You might be hot on a type of business and able to write it consistently for a few months, before underwriting panics and decides they no longer want that type of business (they will say they DO want it, just at a MUCH, MUCH higher price...). But in reality, they don't want it and they quote an unrealistic price and unrealistic RENEWAL pricing for your existing accounts, just to get them off the books. They say everything is a cycle. I tripled the size of my territory in 5 years. Then in the course of just over a year, underwriting walked away from 65% of all of that business that I had written, cutting my income by tens of thousands of dollars. I don't want to ride that "cycle." It would be fine if I earned that "average" money they talk about, but I didn't. If you jump in and expect to get rich, you should work to take over a territory of a guy who is retiring and is rich already. If they say there aren't any of those territories open... well, of course there aren't. The open territory they are offering is open because it wasn't that desirable. The rich guys stay in their territory to keep making money!

    Advice to Management

    Pay your good people more.... considerably more. You lose talent and flounder to replace them, forcing yourself to pay untrained NEW people more than you paid experienced, award-winning reps.


  11. Helpful (1)

    Great Pay, Excellent Training, Horrible Managers all around

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

    I worked at Federated Insurance full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great training, Great pay, Great benefits, You are provided with a lot of tools

    Cons

    There is a high importance to sell every line of insurance, yet Life ins is 95% of your success. Sales managers are very hit or miss. they can be your best resource/friend/asset or someone you want to crash your car with every time they ride with you. Just because your manager was good in sales doesn't not positively correlate to their skills on managing and leading others. VERY bad rates on many P&C lines of business. You are only able to write around 15-20 lines of business. You will only be competitive in around 3-5 lines of business. Also, about 5% of your quotes with be competitive. Underwriting is a pain in the butt and too strict. No exceptions made. Too micromanaged Pay structure is confusing/difficult (even for a veteran CPA) You are the CSR rep for your accounts. You collect all info, input the policy info, take pictures, send in info, help with underwriting, put the quote together, and obviously deliver/sell the policy. 10-20% in every policy every year, have fun going to bat for every client even if they are your best! Expected to sell $20k+ annual premiums to every client you have. Must sell $60k+ premium per year in Life Insurance premium (while selling all other lines of insurance) Moving to Minnesota for a year. The town sucks, the locals hate you, the employees either hate you or like you. You are in a fish bowl and people will turn you in for driving too quick or having too much fun. Welcome back to elementary school.

    Advice to Management

    Just because your MR is good at his job selling, does not mean you need to promote that person to District Managing. Some people are good at Sales, some are better at Managing. Get rid of the DMM/RMMs that have been around for 20+ year. They are out of touch with reality. They are just staying around to keep their deferred compensation.



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