GNY Insurance Companies "underwriters" Reviews | Glassdoor

GNY Insurance Companies Employee Reviews about "underwriters"

Updated Sep 20, 2019

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3.4
StarStarStarStarStar
Rating TrendsRating Trends
57%
Recommend to a Friend
81%
Approve of CEO
GNY Insurance Companies CEO Elizabeth Heck (no image)
Elizabeth Heck
21 Ratings
Pros
  • "(in 3 reviews)

  • "There are some good people that work here, who are courteous and knowledgeable(in 3 reviews)

Cons
  • "Underwriters have no authority to make decisions and everything must be referred(in 4 reviews)

  • "There is a huge disconnect between senior management and lower level employees(in 3 reviews)

More Pros and Cons

Reviews about "underwriters"

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  1. Helpful (6)

    "Employees Are Treated Like Children"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at GNY Insurance Companies full-time for more than 3 years

    Pros

    GNY has carved out a nice little niche for themselves in the market and they are very good at what they do. There are some good people that work here, who are courteous and knowledgeable. That is about it

    Cons

    There is a huge disconnect between senior management and lower level employees. Management has no clue what it takes to get stuff done here and the frustrations that employees face on a daily basis. Underwriters have no authority to make decisions and everything must be referred. There is no trust afforded to people. There are also certain managers here who are extremely condescending to lower level/new employees,... who are made to feel like children. I think one of the senior underwriting managers has a graduate degree in micromanaging. Work from home privileges are not extended to all employees. The office is straight out of 1987. Some of the filing cabinets here (and the paperwork in them) are older than some of the employees. Seriously outdated and depressing office environment.

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    Advice to Management

    Pay attention to your employees. If you spent half as much time listening to your employees as you do coddling your brokers, this would be a much better place to work. As stated in other reviews, the office is in serious need of updating. Both the decorations and furniture are 1980's vintage. A modernization would go a long way in making people happier.

    GNY Insurance Companies2018-04-18

    GNY Insurance Companies Response

    April 23, 2018VP Human Resources

    As the author of this review states, GNY is “very good at what they do.” There is a reason for this. Relationships are important to GNY. We believe in developing careers from the ground up and that investment in people requires a lot of coaching and oversight for less experienced staff. To some, that may be micromanaging. To GNY, it is due diligence. We promote from within and several of our supervisory staff members started with GNY as trainees and remain with GNY because they appreciate the mentorship they receive from much more experienced staff members. Trust and authority are given consistent with experience. My recommendation to this author is to speak to their manager or, if you don’t feel comfortable doing so, speak to someone from human resources. Only then can a specific complaint be addressed appropriately.

    Show Less
  2. Helpful (2)

    "Some great people, but a terrible place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Disapproves of CEO

    I worked at GNY Insurance Companies full-time

    Pros

    There are a lot of good people working at this company and they clearly have found a niche market for their products.

    Cons

    Young employees treated like they are children. Highest turnover among young underwriters who are shown zero respect by upper management. These people are the future of the company and anyone with half a brain gets out ASAP. Bad pay, terrible office, micromanagement.

    Advice to Management

    Improve your relationships with your employees and maybe some will stick around.

    GNY Insurance Companies2016-08-16
  3. Helpful (4)

    "GNY is a horribly run company."

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

    I worked at GNY Insurance Companies full-time for more than 3 years

    Pros

    The experience so you can get a job somewhere else.

    Cons

    Management is extremely old and out of touch with young junior underwriters. Underwriting department has the highest turn over. There is no orientation when they hire you. You are isolated on purpose on others if you are a trainee.

    Advice to Management

    Become more flexible. Let employees roll over vacation days from year to year. Add snacks to the kitchen for employees. Give them Columbus day off. Be more transparent to your employees. Stop saying we are growing when you are firing at will.

    GNY Insurance Companies2014-10-11

    GNY Insurance Companies Response

    November 6, 2014Talent Acquisition Specialist

    Overall, we have historically maintained low turnover compared to our industry. A good portion of recent turnover has been due to retirement. Our most recent paid time off policy does allow roll over of vacation or PTO days. With respect to performance management, we are striving to strike the balance in transparency as well as holding employees accountable for their work product.

    Show Less
  4. Helpful (2)

    "Senior Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at GNY Insurance Companies for more than 5 years

    Pros

    If you don't mind underwriting anything besides apartment buildings this company is for you. No stress. No new business production goals for renewal underwriters.

    Cons

    There are separate renewal underwriters and new business underwriters for each broker. So if you enjoy marketing, you'll never have a chance to do it if your a renewal underwriter. Don't even attempt to negotiate additional vacation time, if if its an additional week unpaid. You get 2 weeks to start, additional week after 5 years.

    Advice to Management

    Micro management is an issue. Senior underwriters limit of authority should be increased. Compensation is way below average for Manhattan. You're told salary range is competitive by Human Resources, and when management makes you an offer it is considerably less by at least $15,000. If your not going to be more competitive with salaries at least be flexible with time off.

    GNY Insurance Companies2013-03-04
Found 55 reviews