Actuarial Intern

Actuarial Intern

The Company

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

Munich Re Specialty North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders, and insurtech partners.

Products include property, casualty, professional liability, and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs.

The Opportunity

The Actuarial intern will gain basic knowledge about insurance data, products, pricing, rating plans, rate reviews/rate indications, industry trends, and market analysis.

They will learn the Insurance Programs business, which offers insurance products through MGAs/MGUs, while assisting with project work to gain insights into actuarial and general insurance concepts.

This internship is being offered in Chicago, IL.

Responsibilities:

• Assist with automating existing manual data pulls utilizing standardized queries and a series of user-specified criteria.
• Assist with the construction and evaluation of peril-specific loss triangles for commercial property business to establish supplemental benchmark LDFs.
• Assist actuaries with any ad-hoc Program-specific projects as needed, including but not limited to rate study support.

Job Requirements:

• Strong analytical abilities including understanding of advanced mathematics and statistical concepts.
• Demonstrated ability to think logically, work collaboratively, and perform analysis in a timely manner.
• Solid written and oral communication skills.
• Strong command of Microsoft Office applications including Excel, Access, Word, and PowerPoint, as well as some knowledge of programming and database such as VBA, Python, and/or SQL. Power BI experience is a plus.
• Rising Junior, Senior, or Master's degree college student majoring in Actuarial Science, Mathematics, Statistics, or similar background requiring quantitative analysis. Prefer to have passed one (1) or more actuarial exams.

At Munich Re, we see Diversity, Equity, and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.

We strive to provide a workplace where all of our colleagues feel respected, valued, and empowered to achieve their very best every day.

We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer.