Bond and Specialty Insurance Intern: Underwriting Professional Development Program

Location: IL - Chicago

Who Are We?

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Job Category

Underwriting

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range$0.00 - $22.00

Target Openings

1

What Is the Opportunity?

Applicants must be authorized to work for any employer in the U.S. now and in the future. The company does not sponsor/support H-1B petitions, TN, or Forms I-983/STEM OPT, for this role.

Applications for this posting will be reviewed on a rolling basis. We encourage you to apply as soon as possible.

The Bond & Specialty Insurance (BSI) Underwriting Internship Program provides qualified interns with an excellent opportunity to gain first-hand experience, receive valuable on-the-job training and learn more about the property & casualty insurance industry.

What exactly is an Underwriter? Insurance is the contractual transfer of financial risk from one party to another. Underwriters (Account Executives) are the heart of the insurance process, gathering and researching pertinent information and then using finely tuned analytical skills to evaluate the acceptability of business and institutional risk. However, underwriters are more than just analysts – they are the core relationship builders with our agents and clients. They are responsible for managing a profitable portfolio of business through our distributing agents and brokers. An underwriting career includes a dynamic blend of analytical and marketing skills – it's challenging, stimulating and a superb career choice.

BSI provides management liability, professional liability and surety to businesses of all sizes. It also provides traditional property casualty coverages to financial institutions, and is organized into six separate and distinct business units which include:

-Commercial Surety (protects a third party from the failure of an insured to perform or fulfill an obligation); -Construction Services (insuring the bond between contractors and clients); -Financial Institutions (insurance for community banks, credit unions, insurance companies, investment advisors and large depository & non-depository institutions); -Private/Non Profit Liability (insurance products for private companies and non-profit institutions); -Professional Liability (coverage protects against liability claims for negligence, errors and omissions in the performance of professional services); -Public Company Liability (insurance products crafted to address the diverse management liability exposures faced by today's public companies.) Positions last approximately 10-12 weeks beginning in late May/early June and ending in mid-August.

Housing assistance is not provided.What Will You Do?

Each intern will be expected to complete challenging and meaningful project work over the course of this program. In addition, there are core assignments and a designated coach to further develop interns’ knowledge of insurance underwriting, sales and marketing.

Learn to leverage modern analytical and artificial intelligence (AI) tools/platforms with the ability to apply critical thinking to evaluate limitations related to quality and accuracy of AI-assisted outputs.

Participate in the Enterprise Internship experience which includes Executive Speaker Series, Networking events, and Rising Senior Intern Symposium.

Perform other duties as assigned.

What Will Our Ideal Candidate Have?

Preferred cumulative GPA of 3.0 or above.

Obtained or pursuing a Bachelor's degree in Business Administration, Economics, Finance, Liberal Arts (with business focus preferred), Management, Marketing, Risk Management and Insurance.

Working knowledge of Microsoft Office.

What is a Must Have?

Pursuing or obtained a Bachelor’s degree.

What Is in It for You?

Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.

Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.

Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.

Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.

Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and