Actuarial Intern

First Chicago Insurance Company (FCIC; Bedford Park (IL); On-site; USD 28,000 - 37,000; Part time

Job summary

First Chicago Insurance Company is seeking an eager intern to join the Product & Actuarial Analysis department in Illinois. You will gain hands-on experience with actuarial concepts, product development, and finance reports.

Ideal candidates are pursuing actuarial science or related fields, with strong communication and problem-solving skills. The role requires up to 40 hours per week and availability for on-site work. Compensation ranges from $20 to $27 per hour.

Qualifications

• Pursuing an Actuarial Science, Math/Statistics, Economics, Finance, or other related degree with a GPA of 3.0 or better
• Excellent verbal and written communication skills
• Great organizational and problem-solving abilities
• Knowledge of Microsoft Word and Excel

Responsibilities

• Assist with new product development including competitive rate comparisons
• Create supporting exhibits and prepare filings for submission to department of insurance to satisfy state regulatory requirements
• Complete data preparation and reserve reviews on various lines of business
• Create and update monthly/quarterly financial reports

Job description

First Chicago Insurance Company is looking for an eager, ambitious, and diligent intern to join their Product & Actuarial Analysis department. This is a great opportunity for a college student to gain true business experience in a hands-on working environment.

The Actuarial intern will be introduced to insurance terminology and concepts in general and exposed to a variety of Product/Actuarial projects and techniques.

DUTIES & RESPONSIBILITIES:

• Assist with new product development which includes competitive rate comparisons and various other competitive studies
• Create supporting exhibits and prepare filings for submission to department of insurance to satisfy state regulatory requirements
• Complete data preparation and reserve reviews on various lines of business
• Create and update monthly/quarterly financial reports

Intern will be involved with wide variety of insurance products which may include: Non-Standard Auto, Commercial Auto, and General Liability.

QUALIFICATIONS REQUIRED:

Pursuing an Actuarial Science, Math/Statistics, Economics, Finance, or other related degree with a cumulative grade point average of 3.0 (out of 4.0) or better

• Excellent verbal and written communication skills
• Great organizational and problem-solving abilities
• Knowledge of Microsoft Word and Excel
• SOA/CAS exams a plus but not required
• Ability to work 40 hours a week
• Willing to work part-time during the school year
• Must be able to work in U.S. without sponsorship

Estimated Compensation Range: $20/hr.-$27/hr.*

*Published ranges are estimates. Offered compensation will be based on experience, skills, education, certifications, and geographic location.