Actuarial Internship

The purpose of this internship is to introduce students to the Rate Development areas of the Actuarial Department. The core objectives of the Actuarial Department are to analyze forms and rates to recommend changes to management that will maintain company profitability and to monitor loss reserve adequacy. The Rate Development area is responsible for analysis of rate and reserve adequacy using mathematical models to forecast future losses and operational costs.  Employees in Rate Development are expected to pursue a rigorous exam process developed by the Casualty Actuarial Society through which they may obtain credentials as an actuary.  Some interns have already begun this exam process, but it is not a requirement to seek the position.

While interning in the Actuarial Department, the students will gain experience applying actuarial models to real world insurance data for rate indications and loss development forecasts.  They will develop reports to management which include exhibits of summary statistics and key metrics involved in the decision-making process for rate changes and reserve level adjustments.  Interns will have the opportunity to learn from our team of actuaries as they evaluate model results for financial impacts, trends, and potential strategies for profit and success of the company.  They will be able to participate in filing preparation and interactions with the Department of Insurance regarding the regulatory compliance of our rate structure.  This internship provides a unique opportunity to work alongside credentialed industry professionals while analyzing multiple different lines of business and model types commonly applied in the insurance industry.

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