Pros
-Although CoVerica is a private company, the founder of the company is giving current employees an opportunity to take ownership of the company via stock, in order to see the company live beyond his involvement. This will ensure that CoVerica maintains its unique family-oriented culture and adheres to its values, and not Wall Street influence (e.g., private equity money, going public, etc.). -CoVerica is consistently profitable. This enables the company to payout year-end bonuses, like in '22. -In quarterly surveys, CoVerica employees continue to give the company positive marks. Most recently, the employees gave the company a score of 9, which means that the company has far more strong advocates than detractors. -The culture at CoVerica encourages innovation. The company is seeking to launch a white-label software solution in 2024 that will enable Salesforce users in the insurance space to process commercial certificates. Beyond that, we incentivize our employees to help make our proprietary systems and processes better by submitting their great ideas (feature requests) or deficiencies in the system (bugs). -CoVerica gives back to the community. The company gave approximately $40,000 to local nonprofit causes that support animal rescue, eliminating homelessness, comforting survivors of domestic abuse, and more. -CoVerica invests in its employees by providing an in-house trainer, ample training and learning opportunities, and regular social outings (e.g., the company has a BBQ deck!). -We love our customers, and they love us. At the time of this writing, our customer satisfaction rating is 97.88%! -CoVerica has a youthful culture. The supermajority of our managers is 35 years or younger. I've worked at Fortune 500 companies (UBS Investment Bank and Freddie Mac), a Top 50 hedge fund (Ellington Management Group), a Top 20 community foundation (The Pittsburgh Foundation), and run and sold a tech company - and I can honestly say this is a great place to work!
Cons
-CoVerica is working to put in place defined career paths that will lay out how someone can advance in the company in both title/responsibilities and compensation. -The Company is very humble about its successes. CoVerica can stand to do a better job of advertising/telling our story to the uninitiated. -CoVerica is at the forefront of InsurTech, and at times this can create stress when newly built software has a bug or the state of it is in an early version.