Midsize companies, ranked No. 8
At Prosper Insurance Co., “everyone deserves to prosper.”
That principle and commitment towards its clients and employees has helped the Virginia Beach independent insurance company rank among the top workplaces in Hampton Roads for the past five years.
Growth and profits remain steady at Prosper despite the effects of post-COVID challenges.
“Things are still going well,” said Morgan Pecora, the company’s vice president of human resources. “Being in the insurance business, we didn’t suffer as much during COVID since everybody always needs insurance.”
Post-COVID realities, however, have caused Prosper to change some of its marketing strategies and employees’ work schedules, noted Pecora. “We’re in the process of doing a digital pivot, focusing more towards technology for leads and marketing strategies instead of total reliance on our organic model of realtors and loan officers.”
In terms of work schedules, the company has a rotating hybrid model where 50% of employees work from the office and 50% telework, Jessica Fitzgibbons, vice president of company growth, said via email. The company moved back to a mostly remote schedule after surveying employees.
In February 2019, Prosper made an ambitious decision to leave its 6,000-square-foot location near Mount Trashmore and move into a 17,396-square-foot facility near Lynnhaven Mall. Company growth was so robust that another move was anticipated in a few years.
In March 2020, then-Gov. Ralph Northam ordered a statewide shutdown of all nonessential businesses and personnel in the wake of the coronavirus pandemic. Prosper has no regrets about its move, Pecora said, but for right now, the company is staying put at its present location.
Founded in 2010 by Drew Monroe and boyhood friend, Rohan Shetty, Prosper has also been featured in Inside Business’ annual “Roaring 20 fastest-growing companies” list, in addition to other regional business publications.
One of the company’s long-term core values is “work hard, play hard,” Pecora said. Since COVID, several of the company’s annual fun events for employees and families have been modified to virtual activities to maintain its family-friendly company culture. That effort is still a priority in 2022.
“We’ve been just as good as in the past,” Pecora said. “We have a lot of metrics to keep our play hard aspect in place. We recently hired a full-time employee engagement coordinator to make sure our culture stays where it’s at — to maintain our fun culture and different initiatives, like our volunteering and wellness programs.”
“We strongly commit to our core value of giving back,” Fitzgibbons said. “We do this by volunteering with local organizations quarterly. Recently, we’ve worked with Cheeriodicals to put together care packages for CHKD patients. Our team participated in Virginia Beach’s annual Polar Plunge benefiting the Special Olympics. Clean the Bay Day is another one of our favorites. We’re always looking to support organizations or groups that are close to our employees’ hearts.”
Although creative efforts and commitments to employee morale continue to pay off for Prosper, an ever-changing jobs market might require additional innovations.
“We have seen a little turnover. It hasn’t been great but more than we’ve seen in the past,” Pecora said.
“So much has changed over the past two years and (we) will change, adapt and flourish,” Fitzgibbons added. “Prosper will continue to listen to our team and change with the times.”
Address: 2929 Saber St., Suite 200, Virginia Beach
Business news for the Hampton Roads region
Top executives: Drew Monroe, President; Adam Howarth, vice president of operations; Jessica Fitzgibbons, vice president of company growth; Morgan Pecora, vice president of human resources
Benefits include: Health, dental, vision, disability and life insurance; education and development; competitive pay, paid time off; generous maternity and paternity leave as well as adoption assistance; gym membership; 401(k) retirement plan with contribution matching
Fun factor: There’s no shortage of fun at Prosper. A few recent company favorite events: magic shows, field day, corporate 5K and wine tastings.
Community service: Prosper volunteers with local organizations quarterly. Recently, they worked with Cheeriodicals to put together care packages for CHKD patients and participated in Virginia Beach’s annual Polar Plunge benefiting the Special Olympics. Clean the Bay Day is another company favorite. They survey employees regularly and allow them to suggest ways the company can get involved around the community.