Zurich Insurance Group Reviews | Glassdoor

Zurich Insurance Group Reviews

Updated July 12, 2018
502 reviews

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3.3
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Mario Greco
116 Ratings

502 Employee Reviews

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Pros
Cons
  • "Work life balance can be difficult to maintain" (in 14 reviews)

  • "Senior management likes the sound of their own voices" (in 20 reviews)

More Pros and Cons

  1. "Great company"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Zurich Insurance Group full-time

    Pros

    Great people and challenging work.

    Cons

    Ups and downs of stock price.


  2. "Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Good company to work for

    Cons

    Competitive Culture not always good

  3. Helpful (12)

    "Avoid at all costs"

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

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

    Pros

    Work from home available
    Good benefits—-they did away with the pension plan though
    New home office with gym and nice cafeteria

    Cons

    It is hard to know where to begin.

    1. If you are an Underwriter, expect to be doing data entry, you clear and register new business yourself, you have to fill out a 200+ data points in an excel spreadsheet for rating and then expect to get 4-5 emails from rating to clarify before getting it back. Rating is in India so there is a language and comprehension barrier but upper management doesn’t care. It takes about 4 hours to clear one piece of new business and fingers crossed the system doesn’t error out, if you report errors to the ASC expect to hear it’s all good because you eventually got it to clear.
    2. Live and die by the underwriting model.
    3. Expect to spend 50% of your time in meetings.
    4. Expect to be a yes person without the ability to provide solutions.
    5. Expect a ridiculous micromanaged environment with a last minute fire drill almost every day so management knows where performance is at (a problem that could be solved with better systems).
    6. Systems do not work so expect to spend 50% of your time on items that should be automated and that are data entry.
    7. The appetite is being dramatically narrowed, to the point where Middle Markets is only focused on certain areas and best of class business. Well that is what everyone wants, you have to take the good with the bad!
    8. Retention is down considerably and no one is writing new business. There are senior Underwriters who haven’t written new business.
    9. Brokers don’t trust Zurich and are not placing new business with them.
    10. There is an extreme lack of accountability with the underwriting assistants, their goals are different from underwriting so they don’t care about writing new business and what’s important.
    11. Turnover is insane. Underwriters are leaving at a fast pace.

    Advice to Management

    I don’t have advice for management. Nothing that is above is any different than what has been said by multiple people.


  4. "Extremely toxic management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Project Lead in Schaumburg, IL
    Current Employee - IT Project Lead in Schaumburg, IL
    Doesn't Recommend

    I have been working at Zurich Insurance Group full-time (More than 5 years)

    Pros

    Good work life balance and pay

    Cons

    -Most IT manager have no people management experience and company is not investing in hiring good managers or training existing ones to manage people
    -A lot of bad management decisions made because it is an "enabled" from higher up
    - Too much favoritism and politics within teams to keep 'friends' with no skills around
    - Firing anyone who raises questions against the manager is a common practice
    - Year end review process has no basis- most managers doesn't even know what the people work on
    - No meritocracy
    - Hiring family friends has become a common practice in IT

    Advice to Management

    Upper management should actively seek anonymous feed backs on managers from employees and investigate the concerns. When you hire people manager , make sure you train them . Being good at writing technical specs or do business analysis doesn't make you a good people manager- hire people with some management experience. When you hire at level 7 and up make sure they are not bringing in only technical know how but good communication skills and management experience. There are manager who never conducted a team meeting and no one knows what others are doing in the team. Lack of transparency is to hide what is going on with regards to the work responsibilities and how people are rated.


  5. Helpful (2)

    "Average experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Analyst in Schaumburg, IL
    Former Employee - Financial Analyst in Schaumburg, IL
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Good headquarters and facilities- all new and really nice. The benefits are decent. Cool events here and there like volunteering and employee meetings.

    Cons

    Not much work life balance or flexibility with alternative work arrangements or work from home, compared to other companies.
    Instability and constant organizational changes, restructuring and layoffs
    Low morale and little faith in senior leadership


  6. Helpful (6)

    "Money Mathers Most"

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

    I have been working at Zurich Insurance Group full-time (More than 5 years)

    Pros

    The benefits are decent but are very similar to what other companies offer.

    Cons

    If it's a choice between making money or or taking care of their employees, this company will ALWAYS choose money. Multiple people in my department are out on workers compensation for stress and new hires often stop showing up after the first 90 days. Excessive smoking and drinking seems to be the norm. Very few people have a positive career outlook. When concerns are brought up to management, employees are told they "ought to be great fully you have a job" as if the Zurich gods mercifully gave you one when you don't deserve it. The attrition rate is terrible. The promotion process is 9 times out of 10 based on favoritism and time with the company. I've seen the company lose plenty of high quality employees because a promotion was given to someone outside the company or someone whose main job function involved kissing up.

    Advice to Management

    Being rude to your employees and treating them like dirt WILL hurt your bottom line. Your employees are the face of your company and if your employees aren't happy, your customers won't be either.


  7. "Room for improvement"

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

    I worked at Zurich Insurance Group full-time (More than 10 years)

    Pros

    Supports a positive work-life balance

    Cons

    Culture of have and have-nots.

    Advice to Management

    Reward your employees with cash, not token gifts.

  8. "great place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Zurich Insurance Group full-time (More than 5 years)

    Pros

    Great place to work, good atmosphere

    Cons

    career progression can be slow


  9. "Vice President property and casualty"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Neutral Outlook
    No opinion of CEO

    I worked at Zurich Insurance Group full-time

    Pros

    Great place to learn. Good process.

    Cons

    Complex political environment. Difficult to innovate due to politics and process.


  10. "Excellent Work place"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Zurich Insurance Group full-time

    Pros

    The experience of being a trainee with a boss that undestrads the importance of your job

    Cons

    The salary isn´t very good


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