Actuarial Intern - Summer 2024

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

The Opportunity

The Actuarial intern will attain basic coverage and pricing knowledge of casualty insurance, specifically gain insight into habitational, construction, and real estate industries. The intern will work closely with assigned mentor on a specific project, where one gets the opportunity to work and collaborate with actuaries, corporate underwriters and business units, to develop a comprehensive understanding of the fundamental operation of an insurance carrier.

Responsibilities:

• Work with the pricing actuary to form an opinion on the risk.

• Conduct research and develop a strategy on habitational risk within GL primary portfolio.
• Collect, clean and analyze underlying insurance data.
• Collaborate with underwriting, actuarial, loss control, claims, and the brokerage community to gain understanding and knowledge of the habitational industry.

Job Requirements:

• Preferred Major: Actuarial Science
• Accepted Major: Mathematics, Statistics
• Grade Level: undergraduate and master's students

• Self-motived and able to work within a team environment, outcome focused.
• Strong communication skills (both written and oral).
• Excellent technical and analytical skills, logical and concise in approach and demonstrate attention to detail.
• Ability and desire to learn and adapt quickly to a change and fast-paced environment
• Computer Skills: Excel, SQL, Python, PowerBI

This role will be based in Princeton or NYC. The base range for this internship in NYC will be $21 - $30 per hour. The hourly estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual rate will include your specific skills, how many years of experience you have and comparison to other employees already in this role.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.