Job Description

NJM 2027 Paid Summer Intern ProgramConsider 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 GameVolunteer activities to give back to the community in which we serveNetworking and social events with fellow interns, former interns, and leadersOverviewNJM 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 languagesInvolves data gathering/transformation and learning to extract insights out of dataProvides a chance to work closely with other actuaries on a day-to-day basis and gain experience in a professional settingOffers an opportunity to communicate results to managementTo 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 ProjectsCreating a tool that automated the analysis of quotes and bind informationCompleting a Countrywide reserve review for an entire Line of BusinessDeveloping an automation tool that iteratively analyze 100's of rating variablesPerforming in-depth analysis of a pricing variable by utilizing a simulation tool to test rates against competitorsConducting a thorough competitor insights analysis for the launch of a new Line of BusinessPerforming cluster analysis to define customer classesCompleting full profitability and impact analysis of a potential new productAnalyzing industry loss trends and developing proposalsResponsibilitiesLearn 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 problemsLearn and heavily utilize Excel, SQL, SAS, and/or PowerBi in various projectsLead a pricing or reserving project, develop recommendations based on the analysis, and present findings to management and/or other departmentsConduct research and provide ad-hoc assistance to on-going projects with other actuaries in the departmentRequirementsCommutable to our West Trenton, New Jersey officeCurrent Sophomores and Juniors pursuing Math, Actuarial, Statistics, Quantitative Finance, or other quantitative fieldMust have 3.0 GPA or higher, overallSelf-directed learner with the ability to learn quickly and pursue Internship with enthusiasm and focus Advance skills in MS Word, Outlook, and ExcelAbility to work well on a team or individuallyExcellent interpersonal, written, and verbal communication skillsWillingness and ability to learn Property & Casualty InsuranceThe Actuarial Intern can pay from $21- $25 hour. Starting Rate: $21Legal 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.

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