These insurance companies have the highest employee satisfaction ratings in the industry. How does your company compare?
In an industry that isn’t known for its glamour, insurance company leaders face a particular challenge when it comes to getting their employees to remain engaged and show company loyalty. This challenge gets a bit more difficult as the Baby Boomer generation rolls into retirement and Millennials make up the majority of the workforce.
Millennials change jobs at a higher rate than any generation before. According to a Gallup poll, 21% of millennials say they've changed jobs within the past year, which is more than 3 times the number of non-millennials.
So, how can insurance workplaces create a company culture that entices millennials, and other generations, to stay? Just take advice from the companies with the highest employee satisfaction ratings.
To compile a list of best insurance companies to work for, we looked to Glassdoor, a growing database of company reviews directly from the mouths of employees. Glassdoor provides millions of honest reviews for every facet of a company including benefits, salaries, work life balance, senior management, culture and values, and career opportunities.
The following had the highest overall ratings, 3.5 or higher, for large scale insurance companies.
Nationwide insurance received an overall employee satisfaction rating of 3.7 out of 5, from a total of 1,908 employee reviews. Of the almost 2,000 employees who left a review, 75% would recommend working at Nationwide to a friend.
Upper management is highly respected at Nationwide, with their CEO, Steve Rasmussen, receiving an approval rating of 83%.
Past and current employees have rated the insurance company’s workplace so highly due to an excellent work life balance, multiple work from home opportunities, the use of the latest technology in the office, and a great benefit package including paid vacation, a matched 401K, and affordable health insurance.
Nationwide also made Fortune’s 100 Best places to work list for the third year in a row because of their generosity towards their employees. For example, employees willingly take a payroll deduction to help members of their staff in need.
Acuity insurance received an overall satisfaction rating of 3.9 out of 5, from a total of 22 reviews. Of these employees, 95% would recommend working for Acuity to a friend.
Acuity upper management is highly respected, with an 100% approval rating of Ben Salzmann, CEO.
Past and present employees are extremely happy with the company’s benefits which include unlimited sick time, health, dental, and vision insurance, 8% matched 401K, no limit on tuition reimbursement, and plenty of employee appreciation parties. Acuity has also been listed on Fortune’s 10 best workplaces in insurance for these amazing employee benefits.
USAA insurance received an overall employee satisfaction rating of 3.7 out of 5, from a total of 1,997 reviews. Of the almost 2,000 employees who left a review, 72% of them would recommend working at USAA to a friend.
USAA’s upper management is viewed highly by their employees, with an approval rating of 83% for their CEO, Stuart Parker.
Past and current employees are grateful for the company’s work life balance, paid vacation time, matched 401K, and health insurance. USAA is also listed on Fortune’s 10 best workplaces in insurance because their competitive benefits are inclusive of families, including in-office childcare.
Many USAA employees also appreciate the company’s honest, mission driven approach to their work which helps military members and their families reach financial security.
Assurance insurance received an overall rating of 4.4 out of 5, from a total of 61 reviews. Of these reviews, 88% would recommend working for Assurance to a friend.
Assurance’s CEO, Tony Chimino, and upper management are well liked with an approval rating of 97%.
Past and current employees appreciate the insurance company’s paid vacation time, work from home opportunities, 401K plan, and health insurance that includes eye care and dental. Employees also rave about Assurance excellent work life balance and office environment.
The company is listed on Fortune’s 10 best workplaces in insurance for treating their employees like royalty. Offices have de-stressing zones equipped with Nintendo Wii, AppleTV, locker rooms, and fitness equipment. They also have employee appreciation trips once a year that have included trips to professional baseball games and the beach.
Hagerty insurance has received a solid 3.5 out of 5 rating from a total of 61 employee reviews. Of these employee reviews, 60% would recommend working for Hagerty to a friend.
As a family owned business, Hagerty upper management is well respected with an 83% approval rating of their CEO, McKeel Hagerty.
Past and present Hagerty employees enjoy the company’s health insurance, opportunities to advance your career, and the office environment.
Hagerty is listed on Fortune’s 10 best workplaces in insurance because the company offers employees opportunities to explore their passions for antique cars with classes and restoration projects.
Travelers insurance has received a 3.7 out of 5 from a total of 1,763 employee reviews. Of these reviews, 71% of employees would recommend working for Travelers to a friend.
Traveler’s CEO Alan Schnitzer has an 89% approval rating and is one of the highest rated CEO’s of 2017 on Glassdoor.
Travelers employees love the comprehensive 401K plan, health care, the flexible work from home options, and the paid time off that promotes a healthy work life balance.