Munich Re Sucks Customer Reviews and Feedback
Munich Re Group or Munich Reinsurance Company is a reinsurance company based in Munich, Germany. It is one of the world's leading reinsurers. ERGO, a Munich Re subsidiary, is the Group's primary insurance arm. Munich Re's shares are listed on all German stock exchanges and on the Xetra electronic trading system. Munich Re is included in the DAX index at the Frankfurt Stock Exchange, the Euro Stoxx 50, and other indices.
"Worked to the bone with no career advancement" was the title that a former employee use for shared his experience working at Munich Re Group, posted by Indeed on March 2019: The managers here are clueless and hire low quality analysts. Incompetence begets incompetence. They put you through a massive number of overtime hours only to scrap a project/change a deadline. Career advancement seems to be based mostly on luck, and not merit.
Data Analyst Intern (Former Employee) says"Worst experience ever. They hired me as an intern and throughout my time there, they didn't give me any work to do. I wasted my 2.5 months and all the manager did was talk about how they are trying to innovate new things and blah blah. Worst IT team too. Took ages to get issues fixed."
Underwriter (Current Employee) says"I’m an underwriter and working at Munich re is like working in 1980s. Major system outages, systems old. Seems all decisions are made in Germany. I feel bad for IT people.People are niceTerrible IT systems"
Operations specialist backup (Current Employee) says"Company is in process of complete outsourcing to India. Don't bother. Management is completely tone deaf and has absolutely no care for employees or consultants.NoneNo future no care"
Talent Acquisition Manager (Current Employee) says"Actuarial dominated company---good for business, very bad for corporate culture. This festers into operations and HR and promotes a finger pointing and zero accountability. HR function lacks leadership, integrity, and vision. You can do better than Munich Re (MARC), I encourage you to do so."
Provide administrative support (Former Employee) says"Manager was a train wreck, he got promoted. His manager took over and completely screwed everyone, then got let go with a golden parachute. Then they brought in someone from the outside that tore apart the entire division and sent everyone packing with out packages.noneManagement is only concerned with their pay and big bonuses."
Senior Claims Consultant (Former Employee) says"employees are left to sink or swim. Management was reluctant or unwilling to provide direction or instruction. Downtown Toronto location difficult to get to and commuting alone can consume 2 to 3 hours a day.decent compensationsee above"
Business System Consultant (Former Employee) says"Professional and prestigious company which help me opened eye to the global. Excellent downtown location with flexible working hours. Huge amount of business which means I have to ensure all the business requirement I defined must be very concise to avoid any system issues."
System Administrator/Program Coordinator (Former Employee) says"I enjoyed my position at Munich Re as I was always asked to perform various tasks to meet departmental needs. I was involved in all aspects of the department's workload including training other underwriting assistants and managing the company's internet based submission system.Great benefits and loyalty."
Analyst (Current Employee) says"Culture spouted at interview differed drastically after employment. Apparently, everything depends on the department you work in. Some allow wfh, comp time and others don't. Management has no coaching experience and would rather take the easiest way out rather than explore reasons why your work may be taking longer than expected. In my case it turned out to be IT settings but I had to find that out on my own. My boss just wrote me off as slow. As I said, the management team should all be required to take coaching classes to help cultivate and grow the talent on board.on-site gymlimited benefit choices, poor management"
Reinsurance Analyst (Current Employee) says"The managers here are clueless and hire low quality analysts. Incompetence begets incompetence. They put you through a massive number of overtime hours only to scrap a project/change a deadline. Career advancement seems to be based mostly on luck, and not merit.Young and relatable workforce, office looks nice, paid OT (if you ask nicely)Long hours, low pay, managers who do not care about you"
UNDERWRITER/PRODUCTION UNDERWRITER (Current Employee) says"Management is poor and there is no mobility for an Underwriter. The culture is quote, quote, quote. Don't attempt to learn or grow. If you want to advance look elsewhere."
Underwriting Analyst - Specialty Markets (Former Employee) says"Company lacks advancement opportunities especially for their underwriting analysts. Currently they recruit college graduates and put them through the actuarial/underwriting training programs. Future underwriting positions are reserved for them as well."
Structurer (Former Employee) says"Im klassischem Rückversicherungsgeschäft ist die Munich Re sicherlich eine der besten Adressen. Bei alternativen Geschäftsfeldern konkurriert sie mit Banken und zieht da deutlich den Kürzeren, was sich folglich auch auf die eigene Karriere auswirken kann.Gratis MittagessenKeine Aufstiegschancen und keine Gehaltserhöhungen"
Network Administrator - Regional Data Center (Current Employee) says"Great company to work for, providing you have a good management team. Micro-management runs rampant within the teams."
Corporate Accountant (Former Employee) says"A busy work schedule, high pressure to meet dead lines during quarter ends. Wonderful employee benefits. Learned to multitask successfully. A highly professional environment.flexible working hoursexcessive workload"
Data analyst (Current Employee) says"Salary is low for the sector. Other insurance companies pay much more for the same job! All you need do is look on glassdoor at other companies like legal and general and you will see how cheap munich re is."
Inspection Specialist (Current Employee) says"The great thing about this job is that you get to manage yourself. You schedule your client visit, take care of your own travel arrangement, set your own hours, and travel to various locations within your area of responsibilityYou get to manage yourself, the benefits are fantastic, and you get to work from home.You don't get a formal initial hire orientation that can answers questions about the company"
Assistente Administrativa (Current Employee) says"Bom ambiente de trabalho e contato com outras áreas da organização."
Support Specialist (Current Employee) says"Company has high standards for sustainability and environmental impact. Company is changing with great goals for the future. Excellent location in NJ with another addition in PA."
Vice President (Former Employee) says"At Munich Re it is all about process. There is very little freedom that allows an entrepreneurial environment to flourish. While I did learn a great deal working there, the culture can be a bit stifling. If you are a "lifer" at the company, like being given a lot of instructions, you will do well there. However, if you like an environment that allows you to do different things that are "outside the box" or entrepreneurial, you will find it to be a difficult place to work."
Prasad says"Recently received award against Great Lakes (wholly owned subsidiary of Munich Re) from Financial Ombudsman. However, the company failed to honour the decision and is ignoring even Financial Ombudsman."
Lennex Mills says"Munich RE own Great lakes Insurance SE who insured myself they also have a financial interest in UK General the loss adjusters who were appointed to address my Insurance claim. The company simply business was the broker who introduced me to Great lakes. They failed to pay 50% of my claim and refused to give any explanation."