Swiss Re Reviews | Glassdoor.co.uk

Swiss Re Reviews

Updated 18 September 2018
630 reviews

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3.6
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Swiss Re Group Chief Executive Officer Christian Mumenthaler
Christian Mumenthaler
132 Ratings

630 Employee Reviews

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Pros
Cons
  • "Lack of transparency by senior management" (in 20 reviews)

  • "Relies too much on work life balance for being a reason to have people stay" (in 9 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (23)

    "Flexible work environment AND pays for performance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Services in New York, NY (US)
    Current Employee - Business Services in New York, NY (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Swiss Re full-time (More than 10 years)

    Pros

    -Offers flex hours, work from home intermitently, accomodates pertinent appts in personal life all provided you're a successfully rated employee at year end.
    -Aids in your development by providing tools necessary for success either thru online internal courses, mentoring with others outside your business line or supporting expense of education while working at Swiss Re and rotation opportunities to other business units to learn more about other areas.
    -Fair cost for benefits in comparison to the cost of other companies outside of Swiss Re. Although costs are rising, so it is for every company
    -Excellent 401k and contributions supported by Swiss Re additionally
    -Can map your success with your manager fairly easily with constant discussions to achieve your goals
    -Bonus compensations are phenomenal compared to those applying to various roles from other organizations provided you do the work and own your success
    -Pays for performers contrary to the posts I have seen. If you get clear directions from your manager on how to improve and do so, you will most certainly be rewarded appropriately. Im sure there is evidence in the teams to support

    Cons

    Hard to find large Cons. Base pay raises are difficult discussions as the larger group of employees see the positive numbers the organization reports/posts and then may not see any base pay increases based on potentially valid reasoning but still does not "feel" good to the average employee. Although, bonus compensation mitigates that should your performance warrant such an award.

    Advice to Management

    Keep educating staff on benefits of working at Swiss Re as I mentioned many above.


  2. "Great opportunities and package"

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

    I have been working at Swiss Re full-time (More than 5 years)

    Pros

    Support development
    Concern for people
    Forward looking

    Cons

    Insurance remains conservative sector and company also struggled to be truly dynamic

    Advice to Management

    Take risk
    Support more global mobility

  3. Helpful (1)

    "Great company, if you are based in Zurich"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Swiss Re (More than 3 years)

    Pros

    People are smart and nice
    Top management is good
    Good technology and enabling resources (you basically have access to everything you need and even more to do your job)

    Cons

    Extremely Zurich centric: your career will not be the same if you are not based there even if you are in one of their major offices. Benefits and salary will not be the same either (pay is below or at market average in nearly all location, but in Zurich they pay a lot more than market average)

    Very poor middle management: technical people became managers but were not prepared for this

    Promotion is based too much on who you know (which is determined by where you are located, even in global roles) and how long you have served in the company (it looks like you are working for the state)

    There is also currently a strong culture shift with more and more consultants joining and cost pressure which affect morale across the entire company

    Advice to Management

    Pay attention to talents (and people in general) outside of Zurich - the company has the infrastructures to enable work to be done in any location...

    Watch out for the culture clash and frustrations you are creating: good/smart people are leaving first. Is that a good way to achieve your cost reduction target?


  4. "Good platform to increase your value in market"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England
    Current Employee - Anonymous Employee in London, England
    Recommends
    Neutral Outlook
    Disapproves of CEO

    I have been working at Swiss Re full-time (More than 3 years)

    Pros

    Strong brand recognised within the industry
    Ethical culture
    Looking to reinvent itself
    Multicultural
    High IQs

    Cons

    Career progress based on years of service and internal network rather than performance.
    Discriminating favouritism
    Lack of gender diversity on A, B, C bands
    Low EQs
    Too many ex consultants defining the new strategy but with no real experience on what they propose

    Advice to Management

    Reward performance. Walk the talk on gender diversity. Hire talent with te required skills and experience to reinvent the company


  5. "SR"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in London, England
    Current Employee - Vice President in London, England

    Pros

    Flexible working and autonomy .

    Cons

    Lack of senior leadership .


  6. "Claims analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Claims in London, England
    Current Employee - Claims in London, England
    Recommends
    Positive Outlook

    I have been working at Swiss Re part-time (More than 10 years)

    Pros

    Good benefits - flexible working, working from home, fully inclusive fair employer. reasonable opportunities to progress
    management want to engage employees

    Cons

    Long hours at times seems endemic


  7. Helpful (1)

    "Currently struggling with the pace of change but hopeful of improvement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in London, England
    Current Employee - Vice President in London, England
    Recommends
    Negative Outlook
    No opinion of CEO

    I have been working at Swiss Re full-time (More than 3 years)

    Pros

    Nice offices, people are brilliant and culture is very friendly. Lots of opportunities to expand knowledge and experience. Feels like a start up but really needs to use some more of its capital to properly future proof itself.

    Cons

    Lack of direction, clearly not listening to advice both internally and externally. Management seem obsessed with changing market segment but won’t protect existing business and staff feel the full frontal assault in poor bonus payments for poor strategies.

    Pay does not increase at base salary level annually. This is very difficult in expensive living locations and ends up with very good people leaving.

    Advice to Management

    Operational effectiveness is not the same as strategy. Too many managers with only skills to deal with positive news and a very outdated habit of promoting technical people to line management roles - out dated for good reason!

  8. "Great place to work"

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

    I worked at Swiss Re full-time

    Pros

    Very good Work culture
    Good Career growth

    Cons

    Makea you very comfortable


  9. Helpful (1)

    "It isn’t the same company I joined"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in London, England
    Current Employee - Vice President in London, England
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Swiss Re full-time (More than 10 years)

    Pros

    Large global company. Buildings are generally nice and modern. Some locations have nice lunch facilities. Some progressive working policies but see below

    Cons

    In some areas where I have worked recently there is poor management capabilities which leads to undue pressure being put on staff to deliver and stop the wheels coming off. Not a pleasant environment. I joined the company many years ago and it seems to be getting worse. It’s not the fantastic company I joined.

    Annual engagement survey process is a joke with staff being told to make sure the results are positive as the consequences in the following year will not be pleasant.

    There is a real mix of traditional line managers who do not embrace modern ways of working which the company is supposed to be promoting and others who do. You are really lucky to find one who does.

    Advice to Management

    Do more anonymous 360 feedbacks of line managers and get the real information to help you understand what life is like as an employee. Walk the floor and talk to staff. The area I currently work in, the M.D. comes in in the morning and literally doesn’t engage with staff. How is that supposed to get staff energised and wanting to perform at their peak.


  10. Helpful (4)

    "Avoid at all costs!"

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

    I worked at Swiss Re full-time

    Pros

    None, would strongly advise against working for Reassure to anyone.

    Cons

    Staff treated very badly, blame culture, poor quality management who seem to take pleasure in treating their people with no respect, outdated systems, low wages ... That's just to name a few!

    Advice to Management

    Try treating your staff with respect instead of promoting a blame culture.


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