Job details

Actuarial Intern_Philadelphia

Actuarial Intern_PhiladelphiaThe CompanyWe 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.The CompanyMunich 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. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.Munich Re Specialty North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information onMunich Re Specialty North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty Insurance DisclosuresThe OpportunityThe Actuarial intern will gain basic knowledge about insurance data, products, pricing, rating plans, rate reviews/rate indications, industry trends, and market analysis etc. 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 Philadelphia, PA.Responsibilities:• Assist with improving existing processes to enhance efficiency and accuracy of reporting and data refinement.• Assist in enhancement of existing tools designed for business performance measurement.• Assist pricing actuaries with the evaluation of claims data.• Assist actuaries with any ad-hoc projects that may arise.• Analyze basic and outlier losses arising from Severe Convective Storm.• Assess Loss Development Factors for General Liability and other lines of business.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 as well.• 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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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$27 / HOURLY (est.)

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$22.5

$31.5

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What You Should Know About Actuarial Intern_Philadelphia, Munich Re

Are you ready to jumpstart your career as an Actuarial Intern in the vibrant city of Philadelphia? At Munich Re Specialty North America, we're on the lookout for enthusiastic individuals who are eager to learn and grow within the world of specialty property and casualty insurance. As an Actuarial Intern, you'll dive into the exciting realm of insurance data, gaining hands-on experience with pricing, rating plans, and market analysis. You'll work closely with seasoned actuaries, assisting them in improving existing processes, analyzing claims data, and tackling ad-hoc projects that challenge your analytical skills. It's a fantastic opportunity to understand how our organization operates and how we tailor our comprehensive solutions to meet the unique needs of our clients. If you're a rising junior or senior pursuing a degree in Actuarial Science, Mathematics, or Statistics and have a knack for advanced mathematics and statistical concepts, we would love to meet you! A working knowledge of software like Excel, Access, Python, or SQL is a bonus, and your ability to communicate effectively will certainly shine in our collaborative team environment. Join us in building a diverse workplace where your contributions matter, and together we'll explore innovative ways to address evolving risks in the insurance industry. Don’t miss out on becoming part of a team that not only values your input but encourages you to bring your best self every day. Come be a part of Munich Re Specialty North America and make meaningful connections while shaping your future!

Frequently Asked Questions (FAQs) for Actuarial Intern_Philadelphia Role at Munich Re

What responsibilities does the Actuarial Intern at Munich Re Specialty North America have?

As an Actuarial Intern at Munich Re Specialty North America, you will play a crucial role in enhancing our processes and tools. This includes improving reporting accuracy and efficiency, assisting pricing actuaries with claims data evaluation, and analyzing losses from Severe Convective Storms. You will also have the opportunity to work on various ad-hoc projects that arise, allowing you to gain a comprehensive understanding of the actuarial field.