Mitsui Sumitomo Insurance Reviews | Glassdoor

Mitsui Sumitomo Insurance Reviews

Updated May 3, 2017
13 reviews

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3.0
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Mitsui Sumitomo Insurance President, CEO, and Director Yasuyoshi Karasawa
Yasuyoshi Karasawa
2 Ratings

13 Employee Reviews

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  1. "Work in Progress!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Warren, NJ
    Current Employee - Anonymous Employee in Warren, NJ
    Doesn't Recommend
    Positive Outlook

    I have been working at Mitsui Sumitomo Insurance full-time (More than 8 years)

    Pros

    Great people. Depending on department - supportive management.

    Cons

    Not automated. Cylos. Poor communication. No training.

    Advice to Management

    Sr. Management needs to decide how they want the company to function and then let your employees accomplish what you pay them to do. You need to hold EVERYONE accountable for their actions not just those you do not like. Allow for more advancement from within instead of having people transfer to other departments to advance. Be supportive of CORE values.


  2. Helpful (2)

    "Changing of the guard"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - SQL Developer in Warren, NJ
    Former Employee - SQL Developer in Warren, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Mitsui Sumitomo Insurance (More than 8 years)

    Pros

    There is no end to the work load (i.e. plenty of work).

    Cons

    Work load is large, but staff cuts and brain drain have placed an inordinate amount of responsibility on those remaining, leading to longer hours, stiffer requirements and an overall uneasy attitude.

    Advice to Management

    MSIG once valued family over profit but that is no longer the case.

  3. "Inconsistent focus"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Claims Representative in Cincinnati, OH
    Former Employee - Claims Representative in Cincinnati, OH
    Neutral Outlook
    No opinion of CEO

    I worked at Mitsui Sumitomo Insurance full-time

    Pros

    On a personal level the people are all very pleasant, many opportunities to learn about Japanese culture, good salary

    Cons

    Do not voice anything about how things are done-not a good idea. Poor planning/time management and gossiping/unprofessional behavior in some depts is surprisingly high.

    Advice to Management

    Slow down and think about the impact on your team BEFORE (proactive) acting/planning, protect your people and they will work hard (er) for you. If we are behind in work do not leave right at punch out time. Lead by example.


  4. "Meh"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great team, learned a lot about insurance

    Cons

    Management was lacking, no real growth


  5. Helpful (1)

    "Need to Change Culture"

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

    I have been working at Mitsui Sumitomo Insurance full-time (More than 5 years)

    Pros

    From an underwriter standpoint, this is the type of position you take 3-10 yrs before you retire. Benefits are probably slightly above average when considering the annual bonus $3-$6k average, and the annual pension contribution, which is in addition to 401K match.

    Cons

    There are no; zero, new business goals. Making the underwriting job boring for most after the fire 18-24 months. The book is 95% Japanese related. Some underwriters will write$0 new business premium per year. This is all renewal. Manual files and the file documentation is maddening. It serves limited to no value to the underwriting decision, but justifies jobs to conduct file reviews. The concept of continuous improvement is absolutely unheard of with the leadership. Most employees are so beaten down they don't offer any input. As a result, leadership has no accountability nor incentive to provide resources and tools to make the underwriting decisions better. When leadership is confronted with alternative to improve processes, if they even give a response, its either that's the way it is or that's the way we've always done it. There are no growth opportunities except for the select chosen few that are in the "club".

    Advice to Management

    Before rolling out a new initiative, process, or procedure you need to analyze its impact to the end users. Other companies have used test groups and pilot programs to improve processes. Stop fearing and penalizing employee feedback - have the courage to embrace it!


  6. "Rewarding and professional atmosphere."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Claims Representative in Cincinnati, OH
    Former Employee - Senior Claims Representative in Cincinnati, OH
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent work environment and office morale

    Cons

    Downtown parking is extremely expensive.


  7. Helpful (5)

    "Good company, terrible management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Cincinnati, OH
    Current Employee - Manager in Cincinnati, OH
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Good work life balance
    Generous vacation time
    Good benefit package
    Strength of parent company in Japan

    Cons

    Incompetent management in Cincinnati and Home Office
    Old boys club
    Salary not competitive
    Little opportunity for growth

    Advice to Management

    You have great leaders in the company, sadly they are not found in upper management. Don't let great, loyal people leave because they are fed up with bad management.

  8. Helpful (1)

    "Mitsui Sumitomo Insurance, a global giant is blinded by bad management and saving a few cents."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loss Control Specialist in Los Angeles, CA
    Current Employee - Loss Control Specialist in Los Angeles, CA
    Doesn't Recommend
    Approves of CEO

    Pros

    The Mitsui Sumitomo Insurance Company overall is an average to good insurance company.

    Cons

    However, the Mitsui Sumitomo Insurance Company loss control department's top and mid management is draconian in it's methods of handing it's professional employees is a place to avoid. Employee's morale, lack of fairness and respect, work standards and life balance unfairness must be kept secretive due to the current poor work climate in the insurance and other industries. Communication and any fairness with this management does not existant unless you are located in home office.

    Advice to Management

    Pay attention to details so your customers will receive the service they pay and are legally entitled. Oversight and protected interviews of all loss control employees by a third party reporting directly to you is recommended. Annual professional training and departmental meetings should be held as before. Current department senior leadership is distroying his own staff and the company reputation by standing on employees backs and hands to make himself look good. There is no team.


  9. "Review for MSILM"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)
    Recommends
    Negative Outlook
    No opinion of CEO

    Pros

    A successful, innovative and empowered organisation that had ambition and the ability to succeed. Felt engaged in what we did and the contribution we made for the group.

    Cons

    Great shame about the appallingly handled acquisition of Amlin and the evisceration of what was a great MSI team to be replaced with hubristic, and largely not very good, Amlin management that, despite plenty of assurances to the contrary, didn't take on any of the recognised better practice from MSILM.

    Advice to Management

    Don't be blinded by shiny new opportunities - stick to what you know...


  10. "A great place to work for mummies!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Development Unit
    Current Employee - Business Development Unit
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Mitsui Sumitomo Insurance full-time (More than 5 years)

    Pros

    You don't have to work late as long as you complete your stuff on time..
    It's pretty much a family-oriented place in the Singapore local office.
    The remuneration is pretty reasonable

    Cons

    No leadership at least in the department I'm working for.
    Lunch time is pretty rigid.. (Maximum - 1 hour + 10 mins)

    Advice to Management

    Recognise staff for their hard work and achievement
    Establish an environment of continuous improvement
    Provide opportunities for people to grow, both personally and professionally (Going for courses shouldn't be a matter of just clocking the required hours)


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