Allianz Reviews | Glassdoor

Allianz Reviews

Updated October 18, 2017
708 reviews

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3.5
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Allianz CEO Oliver Bäte
Oliver Bäte
201 Ratings

708 Employee Reviews

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Pros
  • Work life balance: possibility to take days off (2 (in 83 reviews)

  • the working environment is so nice (in 30 reviews)

Cons
More Pros and Cons

  1. Helpful (3)

    "Allianz - Worst company to work for"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    This company offers great benefits.

    Cons

    This company is the worst company to work for. They do not treat their employees with dignity and respect nor do they promote work life balance. There are no opportunities for growth within this organization, management can treat its employees bad and if employee reports this to HR nothing is done about it. There is such a hostile and stressful work environment where there are many employees that are out with illnesses contributed to the stress from this company. Unfortunately management does not care.

    Advice to Management

    Management needs to treat its employees better by offering incentives for a job well done. This is how you get the most out of your employees and they perform better by giving quality work.


  2. Helpful (3)

    "Good People, Horrible HR and Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    No opinion of CEO

    Pros

    The staff at Allianz is great. For the most part, everyone gets along well and respects one another. The benefits and pay is also pretty good.

    Cons

    The management at this company is a joke and the HR department is extremely unethical. Our Senior Management is arrogant and ignorant and would be unqualified for similar positions at other companies. They have been promoted just because they are yesmen and buddies with the boys in Munich. If you are a woman, do not expect to get very far. This is a German organization so if you are not a man, you are getting their coffee.

    Advice to Management

    There is no advice to give except to replace them with qualified people who will not overspend and run the company into the ground.

    As an aside, Wolfgang Schatz is no longer the CEO of this company. The new CEO is an embarrassment.

  3. Helpful (4)

    "Dysfunctional. CS employees are given unrealistic goals and are penalized and fired when they don't reach those goals."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Golden Valley, MN
    Current Employee - Customer Service Representative in Golden Valley, MN
    Doesn't Recommend
    No opinion of CEO

    Pros

    Decent salary and two fairly decent restaurants on site even if your break time doesn't allow you to visit them before they close for the day.

    Cons

    CS employees routinely thrown under the bus by management when a caller doesn't get their way even though as a CS you've been explicitly told x is not allowed. However, if the customer complains loudly enough their bad behavior is rewarded and the employee becomes the fall guy. In addition, the technology they employ is decades behind the rest of the world and frequently fails or provides incorrect information with cumbersome work-arounds. There is little to no vacation time offered other than a small handful of days for an entire department for an entire year. But aside from all that, probably the worst aspect is the unrealistic call handle times imposed - as a CS employee you're assisting customers with complicated financial packages, often times the customer's life savings and/or retirement funds, but you're limited to only 5.25 minutes per call. If you do not meet this limit you're either placed on a firing warning for exceeding the limit and eventually fired for it or you choose deliver poor customer service to keep your calls as short as possible. If you see a problem with the customer's account and they don't bring it up, you sure aren't going to because that would make the call longer so you leave it be and the customer gets screwed. It would seem the mentality is that Allianz already has the customer's money so why do they care that their CS employees are giving poor CS? It seems that they're only concerned with processing as many calls as possible, it's quantity over quality. Even good employees that have been with the company for years must fear for their jobs every day and even though the company states they promote hiring from within, in the call center it's all smoke and mirrors. It's been years since an employee escaped the call center by getting another job within the company. For most the only exit is with their personal belongings in hand, escorted out the door by security. But there are always more warm bodies desperate for a job, isn't that right?

    Advice to Management

    Reexamine your call handle time requirements with the understanding that many problems customers may have can not be adequately handled in under six minutes. Further, provide real and meaningful opportunities for advancement for employees within the call center. There's great talent you're letting slip through your fingers. And honestly, invest in some decent technology already.


  4. Helpful (6)

    "A Firm With Low & No Growth"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    Initially, this firm was booming and growing back in 2008. In fact, this firm was doing very well while the rest of Wall Street was crumpling. Overall, the vacation days are decent, good health benefits, fairly young crowd. Work hours stick to a 9-5 parameter.

    Cons

    Very unstable, no growth or opportunity for most workers. Management don't know how to manage, there is very low or no moral. HR is almost do not exsist. There is no cohesiveness or integregration, each department is in its own world. The RIS group is ran like a muck, they do their own things, have their own cake & coffee hours.

    Advice to Management

    Management should allow growth & opportunity for your employees. They need to hire or lay off the right people, they should not lay off top, quality workers. I have seen many top, quality people get lay off. They need to wake up & smell the coffee.


  5. Helpful (4)

    "Don't work for this company, at least not in the US."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    The company in the US finally has a vision that positions the lines of businesses to go to market as a single entity.

    Cons

    **Poor systems and overall IT infrastructure
    **Some managers are incompetent and shouldn't be managing people. In certain circumstances, they have an "in" with the good ol boys" club, allowing them to be managers

    Advice to Management

    Get rid of the good ol' boys club and position people based on their true skills. The current set up cab be demoralizing and zap employees' energy.


  6. Helpful (7)

    "Toxic Environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook

    I have been working at Allianz full-time

    Pros

    Subsidiary of well capitalized global insurance company with excellent employee benefits such as health insurance and 401k (100% match up to 7.5%).

    Cons

    New York office is a mess. Senior leadership in United States has created a toxic environment with poor treatment of employees and unethical behavior. Employee turnover is a problem (fired or resigned) over the past 3 years (close to 100% turnover). Two lawsuits have been filed against the company by former US employees in the last 12 months (only 14 employees in NY office). European headquarters is aware but ignoring the problem.

    Advice to Management

    Replacement of senior leadership.


  7. Helpful (4)

    "U.S. is the worst division of an, otherwise, great global company."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Westport, CT
    Current Employee - Anonymous Employee in Westport, CT
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Former colleagues. Allianz Real Estate is part of a larger global company. Allianz Global is a stable company with terrific benefits and a solid track record.

    Cons

    The US CEO and MD are the worst managers you could ever work for. The office was run through intimidation and reputation destruction. Every employee was miserable and looking for other jobs. There are federal lawsuits and other major issues because of his treatment. The best decision I made was leaving. The turnover/fire rate the previous poster indicated is accurate. If you like being treated like garbage, take a job there. If you value professionalism, run as fast as possible in any other direction.

    Advice to Management

    Get rid of the U.S. CEO and Managing Director. Replace them with ethical people and retain the talent you have left.

  8. Helpful (3)

    "Absolutely Awful"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Underwriter in Alpharetta, GA
    Former Employee - Senior Underwriter in Alpharetta, GA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Generally pays mediocre bonus. Some work remote.

    Cons

    Production pressure bordering on harassment. Low authority for underwriters and underwriters are lowest class of employee with do it all yourself with 30 year old systems no support staff. Onus is on line underwriters to make up for general disorganization and poor management. Management is mostly amateurs all from the same cloth -prior company. German ownership control seems to account for unwillingness to invest in technology and some overly conservative underwriting with much missed business opportunities.

    Advice to Management

    Put your underwriters first instead of at the bottom of dumping pile. Get some technology.


  9. "Unless your a member of the good ol boys club..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    They have nice amenities, clean environment, steady hours if you are a regular employee and not a temp employee. Holidays and weekends off.

    Cons

    Difficult to work your way into regular employee status, low paying as a temp employee. Feel every day like it may be the last day of an income. Benefits are poor and very expensive.

    Advice to Management

    Learn to be better to your employees. Equality goes a long way. Offer better benefits. Give people the chance to grow.


  10. Helpful (4)

    "Don't plan on this being a career. Sweatshop."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Claims
    Current Employee - Claims
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Connected to a big global company (Allianz)

    Cons

    The US claims organization leadership is best described as arrogant and abusive. Creates a disrespectful "sweatshop" environment. The "old boy" network is alive and well here...performance doesn't matter; how loyal you are to "leaders" that make snap decisions with little information, and routinely berate their employees does. Enter at your own risk. Invest your career time elsewhere...you only have one life.

    Advice to Management

    Treat your employees with dignity and respect. Stop wearing the "bull in a china shop" reputation as something positive. What it really means is that you don't listen, you are abusive to others, and you are not respected. That is the true definition.


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