Actuarial Intern- Summer 2027

Federated Insurance Company; Owatonna (MN); On-site; USD 50,000 - 62,000; Full time

Benefits offered by this job

Paid volunteer time

Gift matching opportunities

Comprehensive benefits package

Job summary

A leading insurance firm in Owatonna, Minnesota, is offering a full-time summer internship starting June 7, 2027, and ending August 18, 2027. This opportunity is geared for juniors or seniors majoring in Actuarial Science, Math, or Statistics, requiring a GPA of 3.2 or higher. Interns will engage in meaningful projects including data analysis and regulatory reporting, with a pay rate of $27.00 per hour. The company emphasizes professional development and offers comprehensive benefits to its employees.

Qualifications

• Be a junior or senior majoring in Actuarial Science, Math, or Statistics.
• Have a minimum overall GPA of 3.2.
• Have strong computer knowledge including Microsoft Excel.

Responsibilities

• Perform company level experience and rate level studies.
• Collect and organize data to create reports.
• Assist with rating filings and other regulatory reporting.

Skills

Microsoft Excel

Data analysis

Statistical analysis

Education

Actuarial Science, Math, or Statistics major

Job description

Who is Federated Insurance?

At Federated Insurance, we do life-changing work, focused on our clients’ success. For our employees, we provide tremendous opportunities for growth. Over 95% of them believe our company has an outstanding future. We make lives better, and we’re looking for employees who want to make a difference in others’ lives, all while enhancing their own. Federated’s culture is grounded in our Four Cornerstones: Equity, Integrity, Teamwork, and Respect. We strive to create a work environment that embodies our core principles and values. We value and respect individual differences, and we leverage those differences to achieve better results and outcomes for our clients, employees, and communities. Our top priority in recruitment and development of our next generation is to ensure we align ourselves with truly exceptional people who share these values.

What Will You Do?

Internships are a great way to hone your skills in a professional setting. You’ll be exposed to a variety of meaningful projects that may include performing company level experience and rate level studies, collecting and organizing data to create reports, calculating impact of assumption changes on current book of business, and assisting with rating filings and other regulatory reporting. You’ll collaborate with team members daily. Your colleagues want you to learn and succeed, and you’ll benefit from their coaching and feedback. Even better, your contributions will be valued and rewarded – as you will be an important member of our team. This is a full-time, in-person summer internship starting on June 7, 2027 and ending on August 18, 2027.

Qualifications Needed:

• Be a junior or senior majoring in Actuarial Science, Math, or Statistics
• Have a minimum overall GPA of 3.2
• Have strong computer knowledge including the ability to use Microsoft Excel or equivalent spreadsheet software
• Maintain the confidentiality of business and personnel information

Pay for this internship is $27.00 per hour. Pay may vary depending on passed Actuarial Exams and previous internship experience. More information can be discussed with a member of the Recruiting team.

What We Offer

We offer a wide variety of ways to support you as a whole, both professionally and personally. Our commitment to your growth includes opportunities for internal mobility and career development paths, inspiring excellence in performance and ensuring your professional journey thrives. Additionally, we offer exceptional benefits to nurture your personal life. We understand the importance of health and financial security, offering encompassing competitive compensation, enticing bonus programs, cost-effective health insurance, and robust pension and 401(k) offerings. To encourage community engagement, we provide paid volunteer time and offer opportunities for gift matching. Discover more about Federated and our comprehensive benefits package: Federated Benefits You.

Employment Practices

All candidates must be legally authorized to work in the United States for any employer. Federated will not sponsor candidates for employment visa status, such as an H1-B visa. Federated does not interview or hire students or recent graduates with J-1 or F-1 visas or similar temporary work authorization.

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