Actuarial Intern - Summer of 2024

<strong>Personal, compassionate service is what we&rsquo;re known for at NJM. We seek the best and brightest to help our customers when they need us most. As part of the NJM team, you'll not only enjoy some of the best benefits in the industry, you'll also be joining a company that's committed to professional development, diversity and innovative thinking.</strong><br /><br /><strong>What is it like to work at NJM?&nbsp; Click <a href="https://www.youtube.com/watch?v=6XVn3U0XK-0&amp;feature=emb_logo" target="_blank" title="Video" rel="noopener noreferrer">here</a> to see!<br /><br />If you don't see the position you are looking for, apply <a href="https://njm.wd1.myworkdayjobs.com/en-US/njm/introduceYourself" target="_blank" title="Introduce Yourself" rel="noopener noreferrer">here</a>.<br /></strong>

Trenton

NJM Insurance

<p><strong>This isn&rsquo;t just insurance.&nbsp; It&rsquo;s NJM.</strong></p> <p>When you join the NJM family, you&rsquo;ll work with talented people who care about doing the right thing by our policyholders as well as each other. You&rsquo;ll be part of a financially strong and stable company that has flourished on relationships, integrity and service for more than a century. NJM is a special place where you can propel your career, help others and make friends &ndash; all at the same time.&nbsp;</p> <p>NJM is proud to offer our employees continuous learning options, outstanding benefits, access to wellness programs, and a wide range of opportunities to give back to the communities we are privileged to serve.&nbsp;</p> <p>Leading, independent consumer publications repeatedly recognize our commitment to customer and claims satisfaction. In addition, NJM has been named to the Forbes list of the Best Employers in New Jersey three years in a row, based on feedback directly from our employees.</p> https://www.njm.com/about/careers

keywords: position summary,learn,leadership,qualifications,skills

Part time

Overview: <p><strong>Consider joining NJM&rsquo;s 2024 Paid Summer Intern Program!&nbsp; </strong></p> <p>&nbsp;</p> <p><strong>This is a robust program that includes:</strong></p> <ul> <li>Lunch with our leaders.</li> <li>Meaningful work where you are a contributor and collaborator.</li> <li>Team Intern Project: Researching and presenting a business question to our top leaders.</li> <li>Leader Presentations: Insurance Industry, Key Departments and how they work and more.</li> <li>Informational interviews in areas you want to learn more about.</li> <li>Intern Fun: <ul> <li>Night at the Trenton Thunder Game</li> <li>Two volunteer events to give back to the community in which we serve.</li> <li>Lunch &amp; Learns</li> <li>Networking</li> <li>Weekly game days</li> </ul> </li> </ul> <p>&nbsp;</p> <p><strong>Here is what our interns said about us this year:</strong></p> <p>&nbsp;</p> <p>John: &ldquo;NJM is a place to learn and grow. The community is truly special.&rdquo;</p> <p>Kyle: &ldquo;I cannot recommend this internship enough to other students! The SIU internship has become a cornerstone of my professional and academic development and has laid a foundation for my future endeavors.&rdquo;</p> <p>Maggie: &ldquo;People are here to help, and we are here to learn.&rdquo;</p> <p>Joe: "I truly cannot imagine having interned at someplace other than NJM over the past year. I consider myself so extremely lucky to have had this excellent opportunity!"</p> <p>&nbsp;</p> <p><strong>Summary:</strong></p> <p>&nbsp;</p> <div> <p>NJM Insurance Group is looking for several dynamic, energetic interns who are eager to learn about our company by assisting various projects in the Actuarial department. As an Actuarial Intern, you will be assigned to one of the main teams in the department: Personal Auto Pricing, Property Pricing, Commercial Lines pricing, or Reserving.</p> <p>&nbsp;</p> <p>Project assignments vary year to year but there are several common themes:<br /><br /></p> <ul> <li>Teaches basic knowledge of Actuarial techniques and provides meaningful applications of coding languages.</li> <li>Involves data gathering/transformation and learning to extract insights out of data.</li> <li>Provides a chance to work closely with other actuaries on a day-to-day basis and gain experience in a professional setting.</li> <li>Offers an opportunity to communicate results to management.</li> </ul> <p><br />To be successful as an Intern, you should be willing to help with any tasks assigned by a supervisor. You will be involved in upcoming and current projects.</p> <p>&nbsp;</p> <p><strong>Examples of Prior Intern Projects:<br /><br /></strong></p> <ul> <li>Creating a tool that automated the analysis of quotes and bind information.</li> <li>Completing a Countrywide reserve review for an entire Line of Business.</li> <li>Developing an automation tool that iteratively analyze 100&rsquo;s of rating variables.</li> <li>Performing in-depth analysis of a pricing variable by utilizing a simulation tool to test rates against competitors.</li> <li>Conducting a thorough competitor insights analysis for the launch of a new Line of Business.</li> <li>Performing cluster analysis to define customer classes.</li> <li>Completing full profitability and impact analysis of a potential new product.</li> <li>Analyzing industry loss trends and developing proposals.</li> </ul> <p><strong>&nbsp;</strong></p> </div>
Responsibilities: <ul> <li>Learn about the insurance industry and basic Actuarial techniques (such as extension of exposure on-leveling, loss development triangles, etc.) and applying them to solve real business problems.</li> <li>Learn and heavily utilize Excel, SQL, SAS, and/or Power BI in various projects.</li> <li>Lead a pricing or reserving project, develop recommendations based on the analysis, and present findings to management and/or other departments.</li> <li>Conduct research and provide ad-hoc assistance to on-going projects with other actuaries in the department.</li> </ul>
Requirements: <ul> <li>Current Sophomores and Juniors who will be rising Juniors or Seniors for the summer of 2023.</li> <li>Pursuing Math, Actuarial, Statistics, Quantitative Finance, or other quantitative field.</li> <li>Must have 3.0 GPA or higher, overall.</li> <li>Self-directed learner with the ability to learn quickly and pursue Internship with enthusiasm and focus.</li> <li>Advanced skills in MS Word, Outlook, and Excel.</li> <li>Ability to work well on a team or individually.</li> <li>Excellent interpersonal, written, and verbal communication skills.</li> <li>Willingness and ability to learn Property &amp; Casualty Insurance.</li> <li>Ability to pass an NJM pre-employment background check and drug test.</li> </ul> <br /><br />Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.