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Actuarial Intern

Actuarial Intern
Hybrid work schedule
Buffalo, NY
 
Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is looking for is looking for a highly motivated Actuarial Intern interested in learning and applying their skills in a corporate capacity. You will be working within our actuarial department to support several key company initiatives. These include supporting the rate filing and approval process, analyzing internal and competitor inflationary trend data, reviewing the impact of fire and weather events on results by state and insurance line, and developing high-level executive dashboards using the Microsoft PowerBI reporting platform. 
Merchants Insurance Group is proud to be named one of Buffalo Business First’s 2023 Best Places to Work in Western New York, a “Fast Track” company and Top Private Company for the 4th year in a row by Buffalo’s Business First. A Super Regional Property/Casualty Insurer by the Insurance Journal, and as one of Ward's top 50 performing insurance companies in the United States two years in a row. Ward's is a provider of insurance benchmarking and best practices services, analyzings staff levels, compensation, business practices and expenses for all areas of company operations.
 
Merchants offers its colleagues a Hybrid work schedule. The Hybrid work schedule requires 8 full days per month in the office, with the option to work the remaining days at home or in the office. This exciting Hybrid Work benefit offers colleagues a flexible work schedule with the ability to remain connected with their Merchants team and colleagues.
 
Projects may include:
  • Analysis of weather and fire claims and trends in loss ratios and claim size by cause of loss
  • Review of large claims and property valuation tools and impact on reinsurance costs
  • Enhancement to product profiles and profitability by policy attribute
  • Detailed review of new product performance and policyholder demographics
  • Review of competitor financial statements and rate filings for benchmarking analysis
  • Agency reviews using detailed data capture and historical trends
  • Visual dashboard development using new business intelligence platform
  • Review of analytic mapping software and applying it to answer business questions
 
Qualifications & Skills:
  • Full-time, paid internship starting May 2023 through August 2023 based on school schedule. A minimum commitment of 2-3 months is required.
  • Current student or spring 2023 graduate of an undergraduate or graduate program in Actuarial Science, Mathematics, Statistics, or similar area of study with a minimum G.P.A. of 3.0 +
  • Skilled in Microsoft Excel including use of pivot tables and lookup formulas
  • Strong written and verbal communication skills
  • Strong organizational skills and attention to detail
  • Ability to work both independently and as a team in a hybrid work environment
  • Has a willingness to take on a diverse set of projects and deliver high quality work
  • Technical skills in SQL programming a plus
  • Experience with business intelligence tools such as PowerBI, Tableau a plus
  • Skilled with other Microsoft Office tools such as PowerPoint and Word a plus
 
Merchants Insurance Group Benefits:
  • Welcoming and positive work environment.
  • Flexible work arrangements.
  • Hybrid work schedule. The Hybrid work schedule will require 8 full days per month in the office, with the option to work the remaining days per month at home or in the office.