Share this Job

Actuarial Intern

Date: Sep 1, 2021

Location: Erie, PA, US, 16530

Company: Erie Insurance

Division or Field Office:

Actuarial Division

Department of Position: Pricing Department 

Work from:

Corporate Office in Erie, PA

 

At Erie Insurance, we believe in professional and personal development.  With our Future Focus Internship Program, both are provided in abundance.  Not only do we offer the opportunity to gain professional experience in a challenging and competitive setting, but we welcome you as part of the ERIE family.  We ensure that our interns receive the best internship experience possible, which includes multiple educational, developmental, professional, social and networking opportunities.  The esteem ERIE holds in its Future Focus Internship Program is evident at every level of the organization, defined even further by multiple opportunities for socializing with high level leaders, up to and including our President and CEO.  Are you ready for the internship experience of a lifetime?  Look no further.

 

ERIE Insurance recognizes that the recent years have been challenging for many. It is because of that, that ERIE continues to strive to ensure we’re a leader in the insurance industry and bringing in strong talent remains a top priority. Because of that, we rapidly transitioned our (normally in-person) Future Focus Internship program to a virtual program in 2020 and 2021, while other companies and competitors cancelled or delayed their internship programs. This level of commitment to our future talent and organizational leaders, is a testament to ERIE’s stability as an organization and commitment to our Intern Program.

 

Please Note: We are unable to offer this position to individuals who will require current or future immigration sponsorship for employment.

 

Position Summary

 

Opportunity to join our Future Focus Internship Program as an Actuarial Intern
 

Erie Insurance is committed to helping you learn and grow with a challenging internship position that will offer you relevant and real-world business experience. We are currently seeking many high-potential applicants for our upcoming summer internship program as Actuarial Interns!  

 

Who should apply?
 

  • Applications are accepted from full-time college students currently attending an accredited college or university to pursue a four-year degree or to complete a master's degree program full-time
  • A four-year degree student should be completing sophomore, junior, or senior year
  • A minimum cumulative grade point average of 3.0 is required to be considered for an internship

 

About the Internship: The internship includes orientation to the company and the insurance industry through:
 

  • A variety of challenging assignments in a stimulating work environment
  • A personal mentor
  • A welcome breakfast, monthly lunches and wrap up event
  • A variety of educational, social and community service events allowing for collaboration with other interns
  • Social events and other networking activities with senior leaders including the CEO
  • Opportunity to participate in company-wide innovation challenges
  • Relocation assistance may be available to those who qualify
  • We have multiple talent programs and initiatives currently focused on attracting underrepresented students for internships, and other job opportunities here at ERIE Insurance, and ensuring our procedures are free from biases.

Duties and Responsibilities

·  Works with experienced departmental staff to learn actuarial techniques, data sources, and spreadsheets to conduct reviews of rating factors.

·  Assists in conducting detailed analysis of The ERIE's insurance programs, profitability, rating factors, reserve studies, dynamic financial analysis, and experience exhibits. Typical projects have included: deductible studies, trend and forecasts of average paid losses and frequencies, effect of large losses on rate indications, and competitive analysis.

·  Creates exhibits, reports, and charts for actuarial and reserve studies, state insurance department filings, and rate recommendations. Determines appropriate presentation format.

·  Develops a basic knowledge of ratemaking procedures used by The ERIE, competitors, and rate bureaus. Writes programs in SAS and Visual Basic to extract data to spreadsheet format. Reviews data for reasonableness and accuracy.

·  Gathers ERIE and Industry information in response to requests. Presents rate, reserve and other analysis to management and communicates analysis impacts to other departments as required.

Competencies

Ability To Learn And Follow Procedures
Ability to Manage Complexity
Arithmetic Computation
Developing And Maintaining Relationships
Information Management Skills
Interpersonal Communication
Job-Specific Knowledge
Numerical Reasoning
Planning And Organizing
Presentation Skills
Problem Analysis
Oral Communication
Service Orientation
Time Management

Qualifications

High school diploma or GED required. Pursuit of bachelor's degree with completion of sophomore year majoring in Actuarial Science, Mathematics, Statistics, Econometrics or related field required. Minimum 3.0 GPA required. Candidates in their final year of undergraduate study, or pursuing graduate studies are also eligible. Proficiency in probability and statistics as demonstrated by passing the first actuarial exam preferred. Basic knowledge of word processing, spreadsheet, presentation and data base software preferred

Physical Requirements

Lifting 0-20 lbs; Occasional (<20%)
Lifting 20-50 lbs; Rarely
Lifting Over 50 lbs; Rarely
Driving; Rarely
Pushing/Pulling; Occasional (<20%)
Manual Keying/Data Entry; Often (20-50%)
Climbing; Rarely


Nearest Major Market: Erie