About this role
Company Details
Berkley Fire and Marine seek to be the most sought-after Specialty Inland Marine Solution provider, recognized for extraordinary people who deliver exceptional results consistently for all its stakeholders. Our main strategy includes having a specialty focus, empowering our people, using data and analytics to increase effective and efficient operations and investing in our future through innovation. We maintain a strong local presence in each of our markets, keeping underwriting and support close to the customer.
Berkley Fire and Marine is a member company of W. R. Berkley Corporation; a Fortune 500 company whose insurance company subsidiaries are rated A+ (Superior) by A.M. Best.
Responsibilities
Join our team as an Actuarial Intern and gain hands-on experience in the field of actuarial science. Our team is small, but you will work closely and report to our Senior Actuarial Analyst in Chicago while also gaining exposure to our Chief Actuary and other disciplines within Berkley Fire and Marine, contributing to various projects that impact our business and clients. Interns are provided with the opportunity to work on innovative projects and gain experience through various departments: including underwriting, claims, operations and actuarial.
The Berkley Fire and Marine 10-week framework ensures that interns not only get a comprehensive understanding of our insurance operations but also feel engaged and prepared to contribute effectively to their future careers.
Key functions include but are not limited to:
- Assist in data collection, analysis, and interpretation to support actuarial projects.
- Learn and help execute the monthly price monitoring and reserving process for Berkley Fire and Marine.
- Prepare summary level reports to ensure understanding of the process
- Prepare rate indications for one of our niche books with summary level findings
- Support the development and maintenance of actuarial models and databases
- Collaborate with team members to enhance efficiency and development of new actuarial methods
- Learn the specialty inland marine market from the various other disciplines which sit in the Chicago office and gain exposure to other operating units within the WR Berkley umbrella
Qualifications
- Must be enrolled in accredited University pursuing a bachelor’s degree in actuarial science, Mathematics, Statistics, or a related field and have completed 50 hours of credit toward graduation.
- Must be able to work independently in an entrepreneurial environment.
- Strong analytical and problem-solving skills.
- Proficiency in Microsoft Excel and other statistical software.
- Excellent communication and teamwork abilities.
- Eagerness to learn and apply new concepts in a professional setting
- Must be available to commit to a 10-week internship (work hours: 3-4 days a week)
Additional Company Details
The Company is an equal employment opportunity employerSponsorship Details
Sponsorship not Offered for this RoleOther facts
About Berkley
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance. Each of the Berkley companies, or operating units, within Berkley participates in a niche market requiring specialized knowledge about an industry, product or territory.
What you'll do
- Interns will assist in data collection, analysis, and interpretation to support actuarial projects, and learn to execute the monthly price monitoring and reserving process. They will also prepare reports and collaborate with team members on enhancing efficiency and developing new actuarial methods.
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