Oliver Wyman Actuarial - Life Internship - Summer 2027

Oliver Wyman; Chicago (IL); Hybrid; USD 61,000 - 73,000; Full time

Job summary

Oliver Wyman in Chicago invites motivated actuarial interns to join the Life team. You’ll contribute to pricing, valuation, and model transformation across life products, annuity, and long-term care work, gaining hands-on experience in client-facing projects.

The program includes an actuarial bootcamp, mentorship, and exposure to data engineering and cloud initiatives. This internship supports hybrid work and offers a pathway to develop professional skills and build a career in actuarial

Qualifications

• Actuarial modeling experience required or pursued
• Data analysis and assumption reviews experience preferred
• Industry trends research to support client engagements

Responsibilities

• Support actuarial modeling and analysis related to valuation, pricing, and financial projections
• Assist with data analysis, assumption reviews, and sensitivity testing exercises
• Research industry trends and emerging topics to support client engagements
• Prepare analyses, exhibits, and presentation materials for internal and client-facing discussions

Skills

Actuarial modeling

Data analysis

Industry research

Job description

Company Overview

Oliver Wyman is a global leader in management consulting, with offices in 60 cities across 29 countries. We combine deep industry knowledge with specialized expertise in strategy, operations, risk management, and organizational transformation. Our 7,000+ professionals help clients optimize performance, improve operations and risk profiles, and capture the most attractive opportunities.

Company Overview

Oliver Wyman is a global leader in management consulting, with offices in 60 cities across 29 countries. We combine deep industry knowledge with specialized expertise in strategy, operations, risk management, and organizational transformation. Our 7,000+ professionals help clients optimize performance, improve operations and risk profiles, and capture the most attractive opportunities.

Within Oliver Wyman, the Actuarial Practice provides customized actuarial services and strategic insight to insurers, provider systems, regulators, and private equity firms. We bring together actuarial expertise, advanced analytics, and technology to solve complex problems and enable forward-looking decisions.

Our team includes 600+ professionals (including :300 credentialed actuaries) across 41 global locations. We work closely with Marsh, Mercer, and Guy Carpenter to support clients on strategy, operations, capital efficiency, and large-scale transformation.

Summer Internship Roles

Actuarial Intern – Life

Life Overview

Focuses on life, annuity, and long-term care work, including pricing, valuation, and actuarial model transformation.

Life Locations

Atlanta, Chicago, Seattle

What You’ll Do As a Life Intern

• Support actuarial modeling and analysis related to valuation, pricing, and financial projections
• Assist with data analysis, assumption reviews, and sensitivity testing exercises
• Research industry trends and emerging topics to support client engagements
• Prepare analyses, exhibits, and presentation materials for internal and client-facing discussions

Example Life Projects

• Life and annuity product development, pricing, and valuation
• Assumption setting and model methodology review
• M&A due diligence and financial projections
• Model transformation, conversions, and long-term care analytics
• Cloud implementation, software development, and data engineering projects for actuarial teams

In addition, all interns participate in our actuarial bootcamp which consists of a series of presentations, case studies, and mentorship sessions over a six-week period during the summer and aims to give participants a valuable and directly applicable skillset for future employment opportunities within the actuarial industry.

Internship Compensation & Benefits

Intern weekly pay (U.S.): $1,350 – 1,600 USD, depending on role, practice and location.

Work Authorization

Candidates must have permanent, unrestricted U.S. work authorization. Visa sponsorship is not available for this role. (Please note, CPT and OPT are considered restricted forms of work authorization)

Why join us?

• Come aboard if you are excited by challenges and want to work across different cultures.
• We want you to step out of your comfort zone and embrace your curiosity.
• Our consultants learn on the job and receive formal training to develop their communication, presentation, analytical, and client management skills.
• You’ll find genuine colleagues who stand by their beliefs and measure success by the lasting impact you create together.
• We believe in flexibility, including the opportunity of hybrid working. You are also invited to join our colleague resource groups and social activities.

We hire you to be you

• Our open, inclusive, and down-to-earth culture will enable you to bring your best self to work.
• You’ll work alongside authentic colleagues who do serious work, but don’t take themselves too seriously.
• There’s no corporate mold to fit and hierarchy doesn’t get in the way.

Oliver Wyman is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visitoliverwyman.com, or follow us onLinkedInandX.

The Actuarial Practice of Oliver Wyman, a Marsh business, advises clients across a broad spectrum of risk management issues. We are a rapidly growing group with offices expanding across the globe. Our actuaries hold the highest professional qualifications and are nationally recognized as experts in their field(s). We use mathematical and statistical modeling skills and our qualitative assessment methodologies to assist clients in evaluating and addressing risk. Our solutions help clients manage and prepare for the potential financial consequences of uncertain future events. We bring a combination of broad-based expertise with specialized knowledge of specific risks, allowing us to provide independent, objective advice in the three primary areas of risk: healthcare, life and annuity, and property and casualty.

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting [e-mail].

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one "anchor day" per week on which their full team will be together in person.