Actuarial Intern

Location: NJM - Trenton, United States of America

Consider joining NJM’s 2027 Paid Summer Intern Program!

This robust program includes

Lunch with leaders; featuring insights from an Executive Leadership Team member, and a former NJM intern. Opportunity to network with leaders and professionals across multiple departments.

Contribute to and collaborate on meaningful work within your department.

Team Intern Project: Research and present a business question to NJM leaders.

NJM Seminars designed to build essential professional skills and expand knowledge of the insurance industry.

Professional headshots to help enhance your personal brand.

Intern Fun

Night at the Trenton Thunder Game

Volunteer activities to give back to the community in which we serve

Networking and social events with fellow interns, former interns, and leaders

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

Commutable to our West Trenton, New Jersey office

Current Sophomores and Juniors 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

The Actuarial Intern can pay from $21- $25 hour.

Starting Rate: $21

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.