Zurich North America Reviews in New York City, NY | Glassdoor

Zurich North America New York City Reviews

Updated May 15, 2017
51 reviews

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New York City, NY Area

2.7
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Mario Greco
5 Ratings

51 Employee Reviews

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Pros
  • Professional teams to work with, good work ethics, work life balance (in 46 reviews)

  • Good benefits- good culture, very cosmopolitan (in 55 reviews)

Cons
More Pros and Cons

  1. Helpful (6)

    "Now just like all the others"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive Underwriter in New York, NY
    Current Employee - Executive Underwriter in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Zurich North America full-time (More than 10 years)

    Pros

    Good people. Salaries are comparable with the rest of the insurance industry. Employees are treated with respect. Not much else to say.

    Cons

    CEO Mike Foley is ex McKinsey and he is a numbers guy. Very interested in monitoring each step of the underwriting process. Everything is now tracked by an app. You have very little discretion - so many guidelines regarding class and rates - hardly ever competitive in the marketplace anymore. I've worked here for 16 years and I've seen a lot of changes.

    Advice to Management

    Don't rely on computers to do your underwriting. The programs are not as good as humans yet. Someday they may be. For now, empower your people to do their jobs the way they know how.


  2. Helpful (5)

    "Cost Cutting Every Few Years"

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

    I worked at Zurich North America full-time (More than 5 years)

    Pros

    Benefits packages. Community involvement. Location in New York.

    Cons

    Constant cost cutting initiatives lead to mass layoffs every 3-5 years. Poor management.

  3. "Claims Specialist"

    Star Star Star Star Star
    Current Employee - Claims Specialist in Parsippany, NJ
    Current Employee - Claims Specialist in Parsippany, NJ

    I have been working at Zurich North America full-time (More than 3 years)

    Pros

    Solid Company, both international and domestic

    Cons

    Reduce the high turn over rate

    Advice to Management

    Care more about the employees verse the matrix which determine production


  4. Helpful (5)

    "Actuarial Support Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Melville, NY
    Former Employee - Anonymous Employee in Melville, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Zurich North America part-time (More than 10 years)

    Pros

    Zurich has great benefits, flexible hours

    Cons

    always in a state a flux, always at risk of reorg and downsizing, do not value seasoned employees

    Advice to Management

    need stability


  5. "Zurich"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwrting Associate in New York, NY
    Current Employee - Underwrting Associate in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Zurich North America full-time (Less than a year)

    Pros

    Big company, opportunity for growth

    Cons

    Slow pace work environment. Onboarding can take a while.


  6. Helpful (1)

    "Executive Assistant"

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

    Pros

    Benefits, location, room to grow...

    Cons

    Consistent down sizing, Hostile Manager

    Advice to Management

    Communication with assistants


  7. Helpful (12)

    ""Abandon Ship""

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriting Assistant in New York, NY
    Former Employee - Underwriting Assistant in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Zurich North America (More than 3 years)

    Pros

    Flex Hours and Summer Schedule were nice; manager I personally work for was very good; some really good, decent people in the office.

    Cons

    Where to begin??? Now being a former employee I must say that from the outside, seeing that they can spend who knows what on an expensive state of the art corporate HQ in Schaumburg but can't even retain their own employees is a very bad look. People I keep in touch with who are still at the company feel like their job security is totally up in the air with the impending layoffs that are still to come. I was there while TBW (anyone who works here or worked here knows what those initials mean) was being implemented and to be honest the process just didn't make that much sense; take all of the Underwriter's in office work and give it to the UA's to do? Like they didn't have enough to do already? The morale was very low while I was still there and everyone I've spoken to says that it's just getting worse. MASSIVE disconnect between upper management and employees in the field. Seems like every other person is a Assistant Vice President, Executive Vice President, etc. Management way too bloated making up way too much of the salary pool. When I left, all the employees were in basically an "Abandon Ship" mode in which everyone was looking for jobs outside of the company. A lot of talent has been let go or left on their own due to the direction the company has been heading. Also, they are now doing work tracking, in which employees have to submit how much time they are spending working on things and how they are using up the time in their day. Liked working there when I first started, but the TBW philosophy of "let's dump everything on operations to do and not increase their salary at all, and then try to explain it by saying that this is what you should have been doing in the first place to fit your talent" totally turned me off. So an Underwriter can do the same exact work as me but be paid double and triple? No thanks.

    Advice to Management

    - Ditch TBW, it's not a good philosophy.
    - Work tracking shows that you have zero faith in your employees and diminishes trust and morale.
    - Kind of simple but how about retaining your employees who actually do all of the work and cutting out bloated management which doesn't?
    - Too much time wasted on bad training.
    - Complete overhaul needed.

  8. Helpful (4)

    "Underwriting"

    Star Star Star Star Star
    • 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
    No opinion of CEO

    Pros

    Large insurance company, several offices around the US, global presence therefore has the pros of a large company and follows work life balance as industry norm

    Cons

    Too driven by consultants rather than industry expertise. Internal promotions have limited financial reward compared to joining from another company/form the outside. Lacks focus on people therefore high turnover

    Advice to Management

    Too driven by consulting and not industry expertise. No focused enough on the people, the strong managers and underwriters too actuarial driven with out proof of results that will work compared to the relationships that are lost due to turnover


  9. Helpful (4)

    "Underwriting"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriting Assistant in Melville, NY
    Former Employee - Underwriting Assistant in Melville, NY
    Doesn't Recommend
    Negative Outlook

    I worked at Zurich North America full-time (More than a year)

    Pros

    Competitive Salary and bonus offerings with steady salary increases

    Cons

    Stereotypical bureaucracy in which nothing works effectively and money and resources are completely wasted. Many jobs are being offshored.

    Advice to Management

    Too focused on general ideas or the "Zurich Way". Spend more time taking into consideration the employees feedback and making practical changes.


  10. "no title"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwriting Manager in Jamaica, NY
    Current Employee - Underwriting Manager in Jamaica, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Zurich North America (More than a year)

    Pros

    good company to work for oh yes

    Cons

    nothing bad will I ever say about this company

    Advice to Management

    no advice to give such great people


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