Federated Insurance Reviews

Updated March 19, 2015
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3.6
46 Reviews
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Jeffrey E. Fetters
28 Ratings

Employee Reviews

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  1. Marketing Representative

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

    I worked at Federated Insurance

    Pros

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

    Cons

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

    Advice to ManagementAdvice

    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.

    Recommends
    Positive Outlook
    Approves of CEO
  2. Great for SOME, Average for MOST.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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)

    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 ManagementAdvice

    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.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. Previous Marketing Representative

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

    I worked at Federated Insurance (more than 3 years)

    Pros

    Great Compensation, Great Management, Great Opportunity

    Cons

    Hard to have an even work/life balance the first three years in this position.

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    Approves of CEO
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  5. Good stepping stone...don't stay too long

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

    I have been working at Federated Insurance full-time (more than 10 years)

    Pros

    Professional atmosphere, great people to work with, work-life balance, less than 10 minute 'commute' if you live in Owatonna.

    Cons

    Career development is highly dependent on who you know versus what you know. It's a good stepping stone, but recommend not buying into the 'it's a great place to work for 30+ years'. Start here to get some good training and experience and move onto another company that will offer you more challenges and a more progressive career path.

    Advice to ManagementAdvice

    Consider the talent you have in those that have worked at the company 10 - 20 years and look to give them more career growth opportunities. Consider providing better compensation for these employees as well. The base compensation always rises for the new guys, but the rest of us get a minimal raise at best.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 1 person found this helpful

    Federated Insurance is a great place to work

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

    I have been working at Federated Insurance full-time (more than 10 years)

    Pros

    Life/Family balance
    Interesting work
    Career advancement opportunities
    Great benefits

    Cons

    Conservative culture - but great people to work with

    Recommends
    Positive Outlook
    Approves of CEO
  7. Great Old Fashioned Company

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

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

    Pros

    Defined benefit pension plan, great people, commitment to staff, family-oriented culture, good advancement opportunities. Management genuinely cares about staff and customers.

    Cons

    Headquarters located in backwater town with not much to do. Sales and marketing is king of the hill.

    Advice to ManagementAdvice

    Consider letting higher level positions work from areas other than home office.

    Recommends
    Neutral Outlook
    Approves of CEO
  8. Great Experience

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

    I have been working at Federated Insurance

    Pros

    Flexibility, good compensation, control of your income

    Cons

    Work hours, stress, constant pressure to reach set goals

    Approves of CEO
  9. Uber conservative... At times, the company is it's own worst enemy

    • 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 3 years)

    Pros

    Great starting place for salespersons.. After Fed training you have your pic of companies to work for
    High starting salary for Marketing Rep's (72K)
    Room for making good money depending on territory you are assigned (can also be terrible depending on territory)
    Defined territories
    Some of the best training in the industry
    Good work life balance

    Cons

    Typical "drink the cool-ade mentallity"
    At times it seems like the company doesn't actually want to write business
    Manager's are either great or terrible and micro to the n'th degree
    Mnagers almost scare marketer's into never leaving (I've never met anyone who has left Fed that is in a better place now-- this IS 100% FALSE... I am and I know plenty of people who are)
    Tought to move vertically without living in Owatonna MN aka Alaskka

    Advice to ManagementAdvice

    Get more consistent with writing business.. clients hate that one year you are the cheapest, they move business to you, and then the next year you price yourself out of the ball game bc your appetite has changed..
    Also, give marketers more broad knowledge of the industry, don't train marketers to think that all other companies are inferior bc I assure you there are some big players who focus on the competitve landscape and are killing it

    Recommends
    Neutral Outlook
    Approves of CEO
  10. Great company, great benefits, promote only from within

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

    I have been working at Federated Insurance full-time (more than a year)

    Pros

    Benefits and company leadership and management were all at the low end of the totem pole at one point and in the same job type as you will start in.

    Cons

    Insurance sales can be a drag and tough depending on hard and soft market types and location.

    Advice to ManagementAdvice

    Get to know new sales people and makes sure they are comfortable.

    Recommends
    Positive Outlook
    Approves of CEO
  11. The people make this company an alright place to work

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

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

    Pros

    Flexible working schedules
    People are great
    Extensive training program
    Benefits on par with other companies
    Gym facilities
    Pension plan
    Management support (with the right managers)
    Community involved company

    Cons

    Very one track career oriented company
    Takes some time for promotions or promotions seem to be "given away"
    Pay lower than major cities
    Located in a smaller town
    Very formal company
    Strict procedures/Very set in their ways
    Not very progressive in business/technology
    Upper management will always be from a marketing/sales side of the company

    Advice to ManagementAdvice

    Be open to new ideas for doing things within the company. Expand your horizons. Invest time and energy in new views/ways of doing things to attract people.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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