Actuarial Summer Intern, 2025 Job Listing at NJM Insurance Group in Trenton, NJ (Job ID R2006177)

Description

Consider joining NJM's 2025 Paid Summer Intern Program! 

This is a robust program that includes:

• Lunch with our leaders.

• Meaningful work where you are a contributor and collaborator.

• Team Intern Project: Researching and presenting a business question to our top leaders.

• Leader Presentations: Insurance Industry, Key Departments and how they work and more.

• Informational interviews in areas you want to learn more about.

• Intern Fun:

  • Night at the Trenton Thunder Game

  • Two volunteer events to give back to the community in which we serve.

  • Lunch & Learns

  • Networking

  • Weekly game days

Here is what our interns said about us:

John: “NJM is a place to learn and grow. The community is truly special.”

Kyle: “I cannot recommend this internship enough to other students! The SIU internship has become a cornerstone of my professional and academic development and has laid a foundation for my future endeavors.”

Maggie: “People are here to help, and we are here to learn.”

Joe: "I truly cannot imagine having interned at someplace other than NJM over the past year. I consider myself so extremely lucky to have had this excellent opportunity!"

Overview

NJM Insurance Group is looking for several dynamic, energetic interns who are eager to learn about our company by assisting various projects in the Actuarial department. As an Actuarial Intern, you will be assigned to one of the main teams in the department: Personal Auto Pricing, Property Pricing, Commercial Lines pricing, or Reserving.

Project assignments vary year to year but there are several common themes:

• Teaches basic knowledge of Actuarial techniques and provides meaningful applications of coding languages

• Involves data gathering/transformation and learning to extract insights out of data

• Provides a chance to work closely with other actuaries on a day-to-day basis and gain experience in a professional setting

• Offers an opportunity to communicate results to management

To be successful as an Intern, you should be willing to help with any tasks assigned by a supervisor. You will be involved in upcoming and current projects.

Examples of Prior Intern Projects

• Creating a tool that automated the analysis of quotes and bind information

• Completing a Countrywide reserve review for an entire Line of Business

• Developing an automation tool that iteratively analyze 100's of rating variables

• Performing in-depth analysis of a pricing variable by utilizing a simulation tool to test rates against competitors

• Conducting a thorough competitor insights analysis for the launch of a new Line of Business

• Performing cluster analysis to define customer classes

• Completing full profitability and impact analysis of a potential new product

• Analyzing industry loss trends and developing proposals

Responsibilities

• Learn about the insurance industry and basic Actuarial techniques (such as extension of exposure on-leveling, loss development triangles, etc.) and applying them to solve real business problems

• Learn and heavily utilize Excel, SQL, SAS, and/or PowerBi in various projects

• Lead a pricing or reserving project, develop recommendations based on the analysis, and present findings to management and/or other departments

• Conduct research and provide ad-hoc assistance to on-going projects with other actuaries in the department

Requirements

• Current Sophomores and Juniors who will be rising Juniors or Seniors for the summer of 2023

• Pursuing Math, Actuarial, Statistics, Quantitative Finance, or other quantitative field

• Must have 3.0 GPA or higher, overall

• Self-directed learner with the ability to learn quickly and pursue Internship with enthusiasm and focus Advance skills in MS Word, Outlook, and Excel

• Ability to work well on a team or individually

• Excellent interpersonal, written, and verbal communication skills

• Willingness and ability to learn Property & Casualty Insurance

• Ability to pass an NJM pre-employment background check and drug test

Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.