Product Analysis Intern

First Chicago Insurance Company (FCIC; Bedford Park (IL); On-site; USD 22,000 - 33,000; Part time

Job summary

First Chicago Insurance Company is seeking an eager, ambitious intern to join its Product and Actuarial Analysis Department in Bedford Park, IL. This seasonal role offers hands-on experience in commercial lines, with exposure to rate filings, product initiatives, and regulatory processes.

Qualified candidates are pursuing or recently earned a related bachelor’s degree, possess strong communication and analytical skills, and can commit to 40 hours per week without sponsorship.

Qualifications

• Pursuing or recently earned bachelor’s degree in Business Administration, Actuarial Science, Math/Statistics, Economics, or Finance.
• Excellent verbal and written communication skills.
• Excellent quantitative, organizational, decision making, and problem-solving skills.
• Proficiency in Microsoft Word and Excel.
• Must be able to work in U.S. without sponsorship.
• Internship is not eligible for university course credits.
• Ability to work 40 hours per week.

Responsibilities

• Plan, implement, manage, and/or contribute to projects up to moderate complexity
• Analyze competitor product rates, features, and contract languages
• Within department, assist in the creation of rate, rule, and form filings for submission to the Department of Insurance to satisfy state regulatory requirements
• Across all functional departments, assist in new product developments and existing product enhancements
• Conduct research and provide observations on target markets
• Responsible for special ad hoc projects, analysis, and reporting
• Participate in evaluation of internal/external processes and procedures
• Assist with basic compliance and regulation questions as needed
• Create and update monthly/quarterly reports
• Work with IT to implement basic system and web rate changes and enhancements
• Build strong relationships among team members, ensuring cooperation on project objectives
• In this role, you will be involved primarily with Commercial lines of business.

Education

Bachelor's degree in Business Administration, Actuarial Science, Math/Statistics, Economics, Finance, or related field

Tools

Microsoft Word

Excel

Job description

First Chicago Insurance Company is looking for an eager, ambitious, and diligent intern to join its Product and Actuarial Analysis Department. This is a great opportunity for a college student or recent college graduate to gain true business experience in a hands‑on working environment.

DUTIES & RESPONSIBILITIES:

Interns are introduced to insurance terminology and concepts, and gain exposure to a variety of product initiatives. Specific duties may include the following:

• Plan, implement, manage, and/or contribute to projects up to moderate complexity
• Analyze competitor product rates, features, and contract languages
• Within department, assist in the creation of rate, rule, and form filings for submission to the Department of Insurance to satisfy state regulatory requirements
• Across all functional departments, assist in new product developments and existing product enhancements
• Conduct research and provide observations on target markets
• Responsible for special ad hoc projects, analysis, and reporting
• Participate in evaluation of internal/external processes and procedures
• Assist with basic compliance and regulation questions as needed
• Create and update monthly/quarterly reports
• Work with IT to implement basic system and web rate changes and enhancements
• Build strong relationships among team members, ensuring cooperation on project objectives

In this role, you will be involved primarily with Commercial lines of business.

QUALIFICATIONS:

Ideal candidates will fulfill the following requirements:

• Recently acquired or pursuing a bachelor's degree in Business Administration, 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
• Excellent quantitative, organizational, decision making, and problem‑solving skills
• Proficiency in Microsoft Word and Excel
• Basic knowledge of insurance industry is a plus but not required
• Must be able to work in U.S. without sponsorship
• Internship is not eligible for university course credits
• Ability to work 40 hours per week

*This is a temporary seasonal position and is not benefit eligible.

Estimated Compensation Range: $16/hr-$23.75/hr*

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