IAT Insurance Group reviews

I’m glad to hear you found another job that suits you better – certainly your health and wellbeing is paramount and we wish you the best. Change was necessary at IAT. The company's historical results from our insurance operations was not acceptable – with combined ratios in excess of 100 each year. We made a number of changes, including raising expectations in terms of our target results and establishing an effective performance management system. Our Human Resources team has done a stellar job and I could not feel better about the quality of our HR team. We now provide much more constructive feedback to our employees. In the past there was very little if any differentiation in pay for performance. The majority of our employees were frustrated and wanted to be compensated for their measurable performance, not just because of their pay grade or based on what their peers earned. As a result of these changes, in 2015 and 2016, we achieved the best results the company has ever had. Combined ratios in the mid-90s - generating underwriting profit for the first time in the company’s history! We paid our largest bonus pool in 2016 for the 2015 performance year. In 2017, we paid out 30% more than we did in 2016. This pool excludes the executive team. In 2017, 80% of our employees (excluding the executive team) received a bonus. The majority receiving a larger bonus than prior years. If you did not receive a bonus, it means your performance was in the bottom 20% of the company. Yes, we’ve talked to our managers about Glassdoor reviews because it’s an opportunity for us to get feedback and also show potential new hires the exciting opportunities available at IAT. We encourage all employees to provide feedback, not just managers. Employee feedback is something we solicit at every turn. In fact this year was the second year we conducted an anonymous employee engagement survey managed by an outside firm led by Kevin Kruse. We are pleased that our overall score was 3.8 out of 5, and our highest score was in the area of Trust at 4.2. 87% of our employees responded to this engagement survey – one of the highest response rates the firm has ever seen. The most important thing, however, is that our survey results improved in 2017 over last year because we responded to the feedback we received and addressed many of the concerns our employees shared. Today, IAT is a stronger organization with better financial results and better performance in the marketplace. We are retaining and developing our staff and we are attracting some of the industry’s best and brightest talent. All is not rosy – we are still adapting to some of the changes and we are also experiencing some growing pains. But there is no debate that IAT is a company on the rise, and a successful organization needs team members who recognize that their best performance is what will move us forward and we will reward them for it! Bill Cunningham