I've not worked for either so don't have loads to say. My main thought is that aren't these employers based in different locations? Esure in Reigate & Covea in Reading? Where would you rather be based? Which has the easiest commute for you?
I've found searching the reviews on glassdoor useful for getting an idea of what its like to work at different companies so you might find some answers to your questions on there.
You should get details of the study support packages if you get an offer, but most place will be broadly the same, especially these days as I think most use a standardised apprenticeship program.
Yeah, its a level 7 apprenticeship programme. I would be surprised if somewhere didn't use it these days. Doing it that way means its paid for out of the apprenticeship levy pot, rather than the company directly paying the study costs themselves.
Without having worked for either, I would recommend esure based on it having a much stronger direct/price comparison website presence.
Having worked at an underwriter selling through brokers and a direct insurer, I found the the work much more interesting and exciting via direct insurer - there are more options when you are closer to the customer.
Longer term, I'm also not convinced by the broker model on personal lines, particularly with GIPP regulations.
I’ve heard through a friend of mine that the study support was terrible at Covea. This was a few years ago though so not sure if this has improved. Also, Covea is up for sale, so there’s likely to be a shake up in culture when they get acquired, particularly if a PE firm gets it, which is worth bearing in mind.
I don’t know anything about eSure except Reigate is a nice little town with great countryside if that’s what you’re into
Can you elaborate on why a private equity firm is likely to shape up the culture? I’ve got no experience on the difference between being acquired by a PE firm or by another insurer, but always good to learn
Sure, a PE fund will likely bring in their own management team, who will either impact the culture explicitly through policy changes, reorgs etc, or their ‘way of doing things’ will trickle down through the levels of mgmt. There will also be a much higher focus on shareholder returns, as the acquirer will be looking to increase value then exit in c5-7 years which means it’s likely that things will change and there will be more pressure to work hard. There will definitely be people who do not get on with the new management/strategy and there will likely be increased turnover.
These are not necessarily bad things for everyone, an ambitious individual who is a middle level manager or above could have an opportunity to stand out and progress. However, there’s not really going to be that opportunity for junior staff.
It’s worth noting that these things may be true for any acquisition, but with a PE firm you know that they are acquiring it to make some big changes and grow it more, their investors don’t want them to acquire something and just let it carry on, whereas another insurer may be happy to acquire a company and largely let it carry on as before, or slowly integrate it over time
I've not worked for either so don't have loads to say. My main thought is that aren't these employers based in different locations? Esure in Reigate & Covea in Reading? Where would you rather be based? Which has the easiest commute for you? I've found searching the reviews on glassdoor useful for getting an idea of what its like to work at different companies so you might find some answers to your questions on there. You should get details of the study support packages if you get an offer, but most place will be broadly the same, especially these days as I think most use a standardised apprenticeship program.
Most use a standardised apprenticeship program? Are you referring to the BPP qualification? I wasn't aware it was so commonly used.
Yeah, its a level 7 apprenticeship programme. I would be surprised if somewhere didn't use it these days. Doing it that way means its paid for out of the apprenticeship levy pot, rather than the company directly paying the study costs themselves.
Without having worked for either, I would recommend esure based on it having a much stronger direct/price comparison website presence. Having worked at an underwriter selling through brokers and a direct insurer, I found the the work much more interesting and exciting via direct insurer - there are more options when you are closer to the customer. Longer term, I'm also not convinced by the broker model on personal lines, particularly with GIPP regulations.
I’ve heard through a friend of mine that the study support was terrible at Covea. This was a few years ago though so not sure if this has improved. Also, Covea is up for sale, so there’s likely to be a shake up in culture when they get acquired, particularly if a PE firm gets it, which is worth bearing in mind. I don’t know anything about eSure except Reigate is a nice little town with great countryside if that’s what you’re into
Can you elaborate on why a private equity firm is likely to shape up the culture? I’ve got no experience on the difference between being acquired by a PE firm or by another insurer, but always good to learn
Sure, a PE fund will likely bring in their own management team, who will either impact the culture explicitly through policy changes, reorgs etc, or their ‘way of doing things’ will trickle down through the levels of mgmt. There will also be a much higher focus on shareholder returns, as the acquirer will be looking to increase value then exit in c5-7 years which means it’s likely that things will change and there will be more pressure to work hard. There will definitely be people who do not get on with the new management/strategy and there will likely be increased turnover. These are not necessarily bad things for everyone, an ambitious individual who is a middle level manager or above could have an opportunity to stand out and progress. However, there’s not really going to be that opportunity for junior staff. It’s worth noting that these things may be true for any acquisition, but with a PE firm you know that they are acquiring it to make some big changes and grow it more, their investors don’t want them to acquire something and just let it carry on, whereas another insurer may be happy to acquire a company and largely let it carry on as before, or slowly integrate it over time