Actuarial Intern

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

Job summary

First Chicago Insurance Company (FCIC) is seeking an eager actuarial intern to join their Product & Actuarial Analysis department. This hands-on program offers exposure to insurance terminology, product development, and a variety of actuarial projects.

You will gain real business experience in a structured internship, working on non-standard auto, commercial auto, and general Liability lines. The role emphasizes collaboration, data analysis, and preparation of filings and financial reports, with

Qualifications

• GPA of 3.0 (out of 4.0) or better in related degree program.
• Ability to commit to 40 hours per week.
• U.S. work authorization without sponsorship.

Responsibilities

• Assist with new product development including competitive rate analyses and studies.
• Create supporting exhibits and prepare filings for submission to the department of insurance.
• Perform data preparation and reserve reviews across multiple lines of business.
• Create and update monthly/quarterly financial reports.

Skills

Verbal communication

Written communication

Organizational skills

Problem-solving

Teamwork

Education

Actuarial Science / Math / Statistics / Economics / Finance

Tools

Microsoft Word

Microsoft Excel

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.