Actuarial Intern

About the Role

NJM Insurance Group is seeking dynamic, energetic interns eager to learn about the company by assisting with various projects in the Actuarial department. As an Actuarial Intern, you will be assigned to one of the following teams:

• Personal Auto Pricing
• Property Pricing
• Commercial Lines pricing
• Reserving

Program Highlights

• Contribute to and collaborate on meaningful work within your department.
• Team Intern Project: Research and present a business question to NJM leaders.
• NJM Seminars: Designed to build essential professional skills and expand knowledge of the insurance industry.
• Professional headshots to enhance your personal brand.
• Networking and social events with fellow interns, former interns, and leaders.
• Lunch with leaders, featuring insights from an Executive Leadership Team member and a former NJM intern.
• Opportunity to network with leaders and professionals across multiple departments.
• Intern Fun:
• Night at the Trenton Thunder Game
• Volunteer activities to give back to the community.

Key Responsibilities

• Learn about the insurance industry and basic Actuarial techniques (such as extension of exposure on-leveling, loss development triangles, etc.) and apply them to solve real business problems.
• Learn and heavily utilize Excel, SQL, SAS, and/or PowerBi in various projects.
• Lead a pricing or reserving project, develop recommendations based on the analysis, and present findings to management and/or other departments.
• Conduct research and provide ad-hoc assistance to on-going projects with other actuaries in the department.
• Gain experience in a professional setting by working closely with other actuaries on a day-to-day basis.
• Communicate results to management.

Examples of Prior Intern Projects

• Creating a tool that automated the analysis of quotes and bind information.
• Completing a Countrywide reserve review for an entire Line of Business.
• Developing an automation tool that iteratively analyzes 100’s of rating variables.
• Performing in-depth analysis of a pricing variable by utilizing a simulation tool to test rates against competitors.
• Conducting a thorough competitor insights analysis for the launch of a new Line of Business.
• Performing cluster analysis to define customer classes.
• Completing full profitability and impact analysis of a potential new product.
• Analyzing industry loss trends and developing proposals.

Requirements & Tech Stack

• Commutable to our West Trenton, New Jersey office.
• Willingness and ability to learn Property & Casualty Insurance.
• Advance skills in MS Word, Outlook, and Excel.
• Self-directed learner with the ability to learn quickly and pursue the Internship with enthusiasm and focus.
• Ability to work well on a team or individually.
• Excellent interpersonal, written, and verbal communication skills.

Qualifications

• Current Sophomores and Juniors pursuing Math, Actuarial, Statistics, Quantitative Finance, or other quantitative field.
• Must have 3.0 GPA or higher, overall.

The Actuarial Intern can pay from $21- $25 hour. Starting Rate: $21