ACTUARIAL INTERN JOB DESCRIPTION

Ratemaking methodology and loss development analysis have precise, testable answers. When neither is done well, state rate filings break down and reserve estimates drift from reality. The Actuarial Intern enters P&C insurance at the point where raw data becomes the pricing and reserving decisions that regulators and senior management rely on. Entry to this role typically follows undergraduate coursework in actuarial science or mathematics, and strong performance here is a recognized on-ramp to an Actuarial Analyst seat. Few early-career positions offer this breadth of exposure to CAS exam-track work alongside live business deliverables.

As the Actuarial Intern, you will support pricing analysis, loss reserve development, and state rate filing preparation across personal and commercial lines within a P&C insurance actuarial team. The internship sits within a department that serves both internal business units and regulatory bodies, giving you direct exposure to how actuarial outputs shape underwriting and product decisions.

Career Impact: Completing a P&C actuarial internship with hands-on ratemaking and reserving exposure accelerates progress toward the CAS credential in ways classroom study alone cannot replicate.

Business Impact: The reserve estimates and rate indications this intern produces directly inform the pricing decisions that determine whether a product line remains financially viable for policyholders and the carrier.

Growth Opportunity: Interns who demonstrate proficiency in loss development and data querying routinely advance to Actuarial Analyst roles with broader portfolio ownership and responsibility for filing independent rate changes.

• Develop pricing and profitability metrics reports for senior management across assigned personal and commercial lines.
• Perform loss development analysis to support quarterly and annual reserving decisions.
• Prepare and submit state rate filings in response to insurance product revisions and regulatory requirements.
• Analyze industry trend data, including loss trend, exposure trend, and Increased Limit Factors, to inform pricing assumptions.
• Validate and test data integrity across large datasets to ensure accuracy of actuarial outputs.
• Support peer company research and ratemaking studies using current actuarial methodologies.
• Prepare and present findings and recommendations to regional officers and actuarial leadership.

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field, or equivalent work experience.
• 0 or more years of actuarial or analytical experience, with demonstrated exposure to data analysis in an academic or professional setting.
• Progress toward a CAS or SOA credentialing exam, with at least one exam completed or actively in progress.
• Strong quantitative skills, including the ability to structure and interpret complex data sets in support of pricing or reserving work.
• Ability to communicate findings clearly in written and verbal form to both technical and non-technical audiences.
• Strong organizational skills with the capacity to manage multiple deliverables under defined timeframes.

• Prior coursework or project work in ratemaking, loss reserving, or insurance product pricing within a P&C context.
• Experience with statistical programming or database querying in an academic or internship setting.
• Familiarity with regulatory filing processes or insurance product development at the state level.
• Exposure to profitability analysis or management reporting in a business or financial environment.

• Rate filing accuracy rate, measuring how often submitted filings are accepted without material revision by regulators.
• Loss development factor variance, tracking how closely intern-produced LDF selections align with senior actuarial review.
• Report delivery timeliness, measured as the percentage of assigned reports completed within the defined deadline.
• Data validation error rate, reflecting the frequency of data integrity issues identified post-submission.
• Pricing proposal adoption rate, indicating how often intern-developed recommendations proceed without material revision.
• Typical tools: spreadsheet and data analysis software (commonly Excel or SAS); statistical programming environments (commonly R or Python).

• Base Salary Range: $22 to $30 per hour, depending on exam progress and location.
• Bonus: Internship completion bonus offered by some employers; not universal.
• Equity: Not typically offered at internship level.
• Health Benefits: Some employers extend limited medical coverage to summer interns.
• PTO: Standard holidays observed; limited PTO for multi-month internships.
• Common Perks: Exam reimbursement support, mentorship pairing, and internship program events, including a final presentation.

Figures are estimates based on general US market benchmarks and may be outdated. Adjust based on location, company size, and seniority level.

Applicants must be authorized to work in the United States. Employment in this role is contingent on the successful completion of a background check. All qualified candidates will receive consideration without regard to race, color, religion, sex, national origin, age, disability, veteran status, or any other characteristic protected under applicable federal, state, or local law. Reasonable accommodations are available to individuals with disabilities throughout the application and employment process upon request.

The Actuarial Intern owns client-facing analytics and model-building work across assigned portfolios, supporting timely report production and day-to-day client interaction within a life insurance advisory setting. The intern reports to senior actuarial staff and contributes to accurate risk management compliance by applying numerical and technical skills under defined processes.

Key Responsibilities

• Assist with the technical aspects of specific client assignments (including running analytics tools and building models) within the required timeframes.
• Process and handle large data.
• Assist in managing day-to-day interaction with, and expectations of, specific clients.
• Attend client meetings as required.
• Assist in the timely production of reports to clients.
• Understand and comply with the applicable risk management processes and procedures.

Required Qualifications

• Pursuing or graduating with a numerical degree with A-level or equivalent in Mathematics.
• Passed or progressing toward actuarial qualification exams is an advantage.
• Good understanding of, and interest in, Life Insurance.
• Highly technical with good analytical and research skills.
• Good knowledge of Word, Excel, and PowerPoint; basic knowledge of VBA, R, or similar.
• Excellent interpersonal, written, and oral communication skills.
• Effective time management and organisational skills; ability to work in a team and independently.

Embedded within the Actuarial & Reserving P&C Asia team, the Actuarial Intern supports quarterly and annual valuation processes across statutory, US GAAP, and EVM bases while contributing to group projects and transaction risk reviews. Working closely with regulators, internal auditors, and external auditors, the intern enables accurate business steering through operational feedback and local statutory reporting compliance.

Core Functions

• Assist in the completion of quarterly and annual valuations (statutory, US GAAP and EVM bases) on assigned portfolios for sign off purposes.
• Assist in large transaction risk reviews and Group projects.
• Assist in the annual Costing and Reserving Linkage risk review process.
• Assist in the preparation of related analyses and documentation of the quarterly reserving process including RRC meetings.
• Support the Actuarial & Reserving P&C Asia team as a key input provider for business steering via operational and experience feedback.
• Assist in the preparation of all local statutory reserving and reporting requirements as assigned.
• Work with regulators and internal/external auditors on routine and special matters.
• Work on other projects as assigned including participating in internal underwriting audits.

Qualifications & Experience

• Pursuing a university degree in actuarial science, mathematics, engineering, or finance.
• Actuarial valuation and reporting experience.
• Strong practical capabilities in Microsoft Office.
• R coding or other coding skills are advantageous.
• Independent self-starter who actively seeks to contribute and take on additional responsibility.
• Ability to work under pressure, prioritize tasks, and seek out and provide information.

Reporting to the actuarial team, the Actuarial Intern delivers ratemaking analysis and rate indication development across personal, commercial, and farm lines while supporting monthly and quarterly data preparation. Partnering with business units in planning, reserving, and reinsurance, the intern enables data-driven decisions by identifying and communicating key actuarial trends.

Primary Duties

• Assist in preparing support data used in the rate review process for personal, commercial, and farm lines.
• Apply current ratemaking methodologies to develop rate indications.
• Assist in conducting strategic research and peer company analyses using a variety of sources and tools.
• Assist in preparing and analyzing actuarial data on a monthly and quarterly basis while identifying and communicating key observations and trends.
• Participate in various projects, including analysis supporting business units, planning, reserving, claims, marketing, reinsurance, modeling, etc.

Skills & Qualifications

• Actively pursuing a Bachelor's degree in Actuarial Science, Data Science, or a related field.
• Advanced data analysis skills, including the ability to operate and design complex Excel spreadsheets; proficient in Word and PowerPoint.
• Coding experience in R or Python is a plus, but not required.
• Efficient, detail-oriented, and service-oriented with strong organizational skills.
• Ability to work collaboratively and independently while being focused and flexible.
• Ability to use automation tools to improve timeliness, accuracy, and content of reports.

Sitting at the intersection of product development and actuarial analysis, the Actuarial Intern supports new product UAT, experience analysis, policy data validation, and illustration system development within an internal management reporting environment. Operating across ad hoc projects and special quotations, the intern contributes to sound product decision-making by providing structured analytical support to the actuarial function.

Duties

• Support new product development and perform UAT.
• Assist in experience analysis, policy data validation, and market analysis.
• Assist in the preparation of regular internal management reports.
• Support the special quotation and illustration system development.
• Support in ad hoc projects and other duties as assigned.

Requirements

• Degree holder with an Actuarial major preferred.
• Fresh graduates or those with less than one year of experience are welcome.
• Passing preliminary life actuarial qualification exams is an advantage.
• Proficiency in MS Office applications; Excel VBA knowledge is an advantage.
• Team player, self-motivated, with strong analytical skills.
• Good command of both written and spoken English and Chinese.

A key member of the actuarial team, the Actuarial Intern shapes pricing recommendations for new and existing products, develops loss reserve estimates, and prepares state filing materials in support of business leaders making data-driven decisions. Collaborating across underwriting, product, and business unit functions, the intern builds analytical capabilities through direct exposure to pricing, reserving, and management reporting processes.

Functions

• Provide input on the pricing of new and existing products.
• Collaborate with Underwriting and Product in managing business.
• Determine loss and loss expense reserve recommendations.
• Prepare and defend state filing materials.
• Develop management reports and estimate unpaid loss and loss expense liabilities.
• Gather and analyze data to assist business leaders in making data-driven decisions.
• Attend business unit meetings, create and deliver presentations, and participate in internship program events.

Experience & Qualifications

• Currently a junior or graduate student pursuing a degree in Actuarial Science, Mathematics, Statistics, or a related discipline.
• Minimum of one completed CAS exam or currently studying for a CAS exam.
• Knowledge in MS Excel or programming languages such as SAS, R, SQL, and VBA.
• Strong oral, written, interpersonal, and organizational skills.
• Ability to work independently and collaboratively.
• Valid driver's license conforming to company standards.

Accurate pricing and profitability performance for senior management depends on the Actuarial Intern, who develops pricing metrics reports, conducts loss development analysis, and supports rate filings for insurance product revisions. Based within an insurance organization, the intern applies SQL and Microsoft Office tools to validate data and analyze industry factors, including loss trends and Increased Limit Factors.

Accountabilities

• Develop pricing and profitability performance metrics reports for senior management.
• Perform loss development analysis for reserving.
• Perform data validation and testing using a SQL database.
• Analyze industry data with regard to Increased Limit Factors, loss trend, exposure trend, and loss development factors.
• Develop rate filings in support of insurance product revisions.

Technical Qualifications

• Actively enrolled in a full-time Bachelor's degree program with actuarial, insurance, or mathematics concentration; junior year completion ideal.
• Completed actuarial exam a plus but not required.
• Prior experience in insurance or general business a plus.
• Strong proficiency in Microsoft Office products; Microsoft Power BI and SQL a plus.
• Excellent interpersonal, communication, organizational, and time management skills.
• Ability to work in a team and remotely via VPN.

As the Actuarial Intern, this role leads the development of premiums and benefits for new and enhanced insurance and annuity products while performing asset-liability matching analysis and risk exposure quantification across the company's product portfolio. The actuarial team relies on this work to inform optimal investment strategy and support ongoing actuarial research and statistical analyses.

Activities

• Develop premiums and benefits for new or enhanced insurance and annuity products.
• Design new products and product features.
• Project profitability generated by the company's products.
• Analyze the matching of assets and liabilities and develop an optimal investment strategy.
• Quantify the company's risk exposure and propose ways to minimize risk.
• Perform actuarial research and statistical analyses.

Position Requirements

• In junior or senior year or a recent graduate pursuing a Bachelor's degree in Actuarial Science, Mathematics, Statistics, Engineering, Sciences, Economics, or Finance; a GPA of 3.0 or higher is preferred.
• Passage of one or more Society of Actuaries exams, working toward the ASA/FSA designation.
• Knowledge of modeling packages, programming languages, and spreadsheet/database software preferred.
• Strong written, oral, and interpersonal communication skills.
• Analytically minded with the ability to work on rotating job assignments.

Inforce Actuarial Intern delivers project reporting, PowerPoint presentations, and research updates in support of a reinsurance team's inforce management activities, operating within SCOR's internship program structure. The work directly supports team-wide compliance with SCOR policies and ensures the timely completion of cross-functional projects through active collaboration with applicable lines of business.

Operational Focus

• Support manager through active participation in team meetings and assistance in updating relevant materials.
• Prepare standardized project-related reports and PowerPoint presentations to communicate project status, issues, and successes.
• Collaborate with all applicable lines of business as required.
• Assist in research to update and maintain relevant information.
• Complete all projects on time and comply with all SCOR policies and procedures.
• Complete Reinsurance Industry Overview training and participate in internship program events, including final presentation and program wrap-up.

Knowledge, Skills & Abilities

• Pursuing an undergraduate degree, preferably in Actuarial Science or Mathematics.
• Passed at least one actuarial exam.
• Understanding of statistical, mathematical, qualitative, and quantitative research concepts.
• Strong PC skills, including PowerPoint, Excel, and Access.
• Ability to work effectively both independently and as part of a team.

The Actuarial Intern produces data-driven pricing decisions by analyzing large datasets via SAS and Excel, developing pricing proposals, and filing pricing changes with state insurance departments to maintain regulatory compliance. The intern reports to regional officers and senior management, supporting pricing integrity through recurring report maintenance and query-based analysis across assigned markets.

Key Deliverables

• Analyze large data sets and leverage findings to make data-driven pricing decisions.
• Develop proposals and present findings and recommendations to regional officers and senior management.
• File pricing changes with state insurance departments and maintain compliance.
• Query large datasets via SAS and organize and analyze results in Excel.
• Create and maintain recurring reports and monitors to ensure approved proposals are functioning as intended.

Professional Experience

• Actively pursuing a Bachelor's degree in Math, Economics, Actuarial Science, or related major; rising senior required; cumulative GPA of 3.2 or higher.
• Must be planning to sit for or have completed an actuarial exam before the end of senior year.
• Proficient in Microsoft Excel and SAS; additional programming skills required.
• Excellent written, verbal, and communication skills.
• Ability to foster strong working relationships.
• Superior organization skills and a demonstrated ability to prioritize and deliver results.

Embedded within a consulting actuarial team, the Actuarial Intern develops cost estimates, financial exhibits, and client deliverables with minimal guidance while collaborating on projects, workflow, and training. Working closely with consultants in client meetings, the intern enables high-quality client service by applying strong mathematical and computer skills to special projects and SOA exam-track analytical work.

Areas of Ownership

• Complete cost estimates and data analysis with minimal guidance.
• Prepare financial exhibits, data, letters, presentations, and other client deliverables.
• Collaborate with the team on projects and workflow, including training.
• Attend client meetings with the consultant as needed.
• Complete special projects or assignments as instructed by manager.

Background & Experience

• Pursuing a Bachelor's degree in a related discipline; GPA of 3.0 preferred.
• On the SOA exam track, passing one SOA exam preferred.
• Strong math and computer skills with superior attention to detail and organization.
• Good verbal and written communication skills.
• Ability to grasp actuarial terms and concepts.
• Ability to work effectively as part of a team.