Title:  Actuarial Intern_Chicago

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.

The Company

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. 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 on  

Munich Re Specialty North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty Insurance Disclosures

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 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 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 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.