Taylor Harley
Role
Corporate Reserving Intern
Location
Princeton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
I am now a Secondary Education Math major.
Provide a general description of the work at your internship.
I found trends in data, as well as, find better ways to collect and store data.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
Ross would give me projects and be my first point of contact for questions or concerns.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes, my first AS class made it easier to understand the probability and statistics lingo.
Were you assigned any special projects?
No
What were the supplemental benefits besides the pay?
Lunch vouchers during meeting at lunch.
Describe the company's internship program.
This company is very busy with time critical work, so intern's work is pretty much just busy work. This busy work was quite tedious and long. Occasionally, we had partner projects, but collaboration between interns was encouraged.
Was the internship what you expected after the interviewing/hiring process?
It was a little less intimidating and less actuarial based than I thought it would be.
Were you provided time off besides the weekend?
Yes, we had off for all national holidays.
Corporate Reserving Intern
Location
Princeton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
I am now a Secondary Education Math major.
Provide a general description of the work at your internship.
I found trends in data, as well as, find better ways to collect and store data.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
Ross would give me projects and be my first point of contact for questions or concerns.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes, my first AS class made it easier to understand the probability and statistics lingo.
Were you assigned any special projects?
No
What were the supplemental benefits besides the pay?
Lunch vouchers during meeting at lunch.
Describe the company's internship program.
This company is very busy with time critical work, so intern's work is pretty much just busy work. This busy work was quite tedious and long. Occasionally, we had partner projects, but collaboration between interns was encouraged.
Was the internship what you expected after the interviewing/hiring process?
It was a little less intimidating and less actuarial based than I thought it would be.
Were you provided time off besides the weekend?
Yes, we had off for all national holidays.
Stephanie Laughlin
Risk Management Summer 2019
Video |
Role
Summer Leadership Development Intern (SLDP) - Underwriting Track
Location
Princeton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Risk Management and Insurance
Provide a general description of the work at your internship.
Munich Re's internship program is mostly project-based - there was no "busy work." I was assigned one individual project and took part in a group project with the other SLDP interns. Project work took up about 60% of my time, and the rest of my time was spent networking with employees and attending various educational events, such as lunch and learns. The internship concluded with two presentation - one 20-minute individual presentation and a 20-minute group presentation.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor answered any questions I had about the International Graduate Training program, the organization/culture as a whole, and provided me with a list of recommended employees to network with over the course of the internship. We had lunch together monthly. She also allowed me to shadow for a day to learn more about her role.
Did you feel your RMI/AS classes better prepared you for the internship?
RMI classes help in that you are familiar with the terminology (e.g. loss triangles, loss ratio, etc.) and have a high level idea about different functional areas in an organization (e.g. Excess and Surplus, Treaty, Facultative, etc).
Interviewing/Hiring Process Comments:
The interviewing process was intense, though the actual interviews themselves were mostly behavioral. I had an on campus interview the day after the internship reception. The following Monday I had an on-site interview at Munich Re's Princeton campus, which lasted about 3.5 hours start to finish. The on-campus interview included a math & logic test in addition to five 30-minute long back-to-back interviews (some panel, some one-on-one).
Were you assigned any special projects? If so please describe.
I had one individual project assigned to me for the team I report to this summer (E&S). This project was the focus of my individual presentation. I worked with several different functional areas (actuarial, claims, underwriting, data analytics) to develop a pricing tool to quantify emerging risks in E&S casualty. I worked on a remote team and had weekly Skype meetings to review the project.
What were the supplemental benefits besides the pay?
I qualified for a travel stipend which I could use for temporary housing or to cover the costs of the commute. Additionally, Munich Re has a heavily subsidized cafeteria and free gym on campus which offers multiple fitness classes five days a week. Munich Re's Young Professionals Employee Resource Group hosted one or two happy hours over the course of the internship.
Describe the company's internship program.
The atmosphere at Munich Re is incredibly laid back. They have a "dress for your day" policy, which means that you can wear jeans on days you don't have any important meetings or networking events. Depending on the team you work for, you can elect to come in early to leave early (e.g. work from 7:30-3:30) or come in later (e.g. work from 9-5). I really enjoyed the flexibility and freedom. Everyone is extremely professional, down-to-earth, and friendly. They really value networking and you're encouraged (expected, really) to set up networking lunches and coffees with employees. The work load was reasonable, and the point of the internship was really to learn about the culture of the organization and determine whether or not it is somewhere you could see yourself working.
Was the internship what you expected after the interviewing/hiring process?
The internship was honestly not what I expected. I had an internship with a brokerage firm last summer, and wanted to use this summer to see what underwriting was like. This internship was project-based, so really didn't give much of an insight into what the day-to-day of an underwriter entails. What I gained from this internship was networking and a real understanding of the culture at Munich Re.
Were you provided time off besides the weekend?
The office closes at 3pm on Fridays during the summer. We were also closed the day after the 4th of July. The office closed early (1 or 2pm) the day before the 4th as well. A few of the SLDP interns took a day or two off to travel, which was not an issue with any of the managers. Depending on the team, some of us were allowed a few days to work from home when we didn't have meetings.
Summer Leadership Development Intern (SLDP) - Underwriting Track
Location
Princeton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Risk Management and Insurance
Provide a general description of the work at your internship.
Munich Re's internship program is mostly project-based - there was no "busy work." I was assigned one individual project and took part in a group project with the other SLDP interns. Project work took up about 60% of my time, and the rest of my time was spent networking with employees and attending various educational events, such as lunch and learns. The internship concluded with two presentation - one 20-minute individual presentation and a 20-minute group presentation.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor answered any questions I had about the International Graduate Training program, the organization/culture as a whole, and provided me with a list of recommended employees to network with over the course of the internship. We had lunch together monthly. She also allowed me to shadow for a day to learn more about her role.
Did you feel your RMI/AS classes better prepared you for the internship?
RMI classes help in that you are familiar with the terminology (e.g. loss triangles, loss ratio, etc.) and have a high level idea about different functional areas in an organization (e.g. Excess and Surplus, Treaty, Facultative, etc).
Interviewing/Hiring Process Comments:
The interviewing process was intense, though the actual interviews themselves were mostly behavioral. I had an on campus interview the day after the internship reception. The following Monday I had an on-site interview at Munich Re's Princeton campus, which lasted about 3.5 hours start to finish. The on-campus interview included a math & logic test in addition to five 30-minute long back-to-back interviews (some panel, some one-on-one).
Were you assigned any special projects? If so please describe.
I had one individual project assigned to me for the team I report to this summer (E&S). This project was the focus of my individual presentation. I worked with several different functional areas (actuarial, claims, underwriting, data analytics) to develop a pricing tool to quantify emerging risks in E&S casualty. I worked on a remote team and had weekly Skype meetings to review the project.
What were the supplemental benefits besides the pay?
I qualified for a travel stipend which I could use for temporary housing or to cover the costs of the commute. Additionally, Munich Re has a heavily subsidized cafeteria and free gym on campus which offers multiple fitness classes five days a week. Munich Re's Young Professionals Employee Resource Group hosted one or two happy hours over the course of the internship.
Describe the company's internship program.
The atmosphere at Munich Re is incredibly laid back. They have a "dress for your day" policy, which means that you can wear jeans on days you don't have any important meetings or networking events. Depending on the team you work for, you can elect to come in early to leave early (e.g. work from 7:30-3:30) or come in later (e.g. work from 9-5). I really enjoyed the flexibility and freedom. Everyone is extremely professional, down-to-earth, and friendly. They really value networking and you're encouraged (expected, really) to set up networking lunches and coffees with employees. The work load was reasonable, and the point of the internship was really to learn about the culture of the organization and determine whether or not it is somewhere you could see yourself working.
Was the internship what you expected after the interviewing/hiring process?
The internship was honestly not what I expected. I had an internship with a brokerage firm last summer, and wanted to use this summer to see what underwriting was like. This internship was project-based, so really didn't give much of an insight into what the day-to-day of an underwriter entails. What I gained from this internship was networking and a real understanding of the culture at Munich Re.
Were you provided time off besides the weekend?
The office closes at 3pm on Fridays during the summer. We were also closed the day after the 4th of July. The office closed early (1 or 2pm) the day before the 4th as well. A few of the SLDP interns took a day or two off to travel, which was not an issue with any of the managers. Depending on the team, some of us were allowed a few days to work from home when we didn't have meetings.
Nicolas Vilov
Risk Management Summer 2018
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Role
Summer Leadership Development Intern
Location
Princeton, NJ
When did you work there?
Summer 2018
Please list your major(s) and minor(s).
Risk Management & Insurance
Provide a general description of the work at your internship.
I was given a 12-week summer project that dealt with identifying patterns in the profitability of Managing General Agents (MGAs). I worked in the Specialty Markets Division and had to present my findings at the end of the summer. I also worked on audit reports for many MGAs and wrote reports on the macroeconomic factors within that class of business.During the internship, I also had the opportunity to meet with most of the executive team members, including the Chief Executive Officer of Munich Re America.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
I've met with my mentor bi-weekly and could ask her any questions about the company. She introduced me to employees from different divisions, and allowed me to shadow her during one of the days.All SLDP interns were given a list of the past international graduate trainees (risk analysts) and every one of them was very friendly and helpful.
Did you feel your RMI/AS classes better prepared you for the internship?
Definitely! Risk Financing prepared me for most of the reinsurance terms and I felt like I had a very good foundation from all of my RMI classes.
Interviewing/Hiring Process Comments:
One on-campus interview, and one half-day interview in Princeton, NJ.
Were you assigned any special projects?
My project dealt with looking at the current and (some) past MGAs and PAs that Munich Re worked with, and trying to find patterns of profitability. I developed and Excel sheet that had many different variables, and tried to understand why were certain ones more profitable than others. I looked at different combined ratios, premiums, audit reports, and met with my manager 1-2 times per week.
What were the supplemental benefits besides the pay?
Housing expenses were covered (up until a certain limit).
Describe the company's internship program.
The company culture was great! Everybody who I met was extremely friendly and seemed to love to work for the Company. I've truly enjoyed my experience and I played soccer with my co-workers every Monday after-work. There were "game-night" days and many Employee Resource Groups to join.
Was the internship what you expected after the interviewing/hiring process?
It was even more than I expected. Everything I heard about the company culture was true and the internship provided an invaluable experience.
Were you provided time off besides the weekend?
No.
Summer Leadership Development Intern
Location
Princeton, NJ
When did you work there?
Summer 2018
Please list your major(s) and minor(s).
Risk Management & Insurance
Provide a general description of the work at your internship.
I was given a 12-week summer project that dealt with identifying patterns in the profitability of Managing General Agents (MGAs). I worked in the Specialty Markets Division and had to present my findings at the end of the summer. I also worked on audit reports for many MGAs and wrote reports on the macroeconomic factors within that class of business.During the internship, I also had the opportunity to meet with most of the executive team members, including the Chief Executive Officer of Munich Re America.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
I've met with my mentor bi-weekly and could ask her any questions about the company. She introduced me to employees from different divisions, and allowed me to shadow her during one of the days.All SLDP interns were given a list of the past international graduate trainees (risk analysts) and every one of them was very friendly and helpful.
Did you feel your RMI/AS classes better prepared you for the internship?
Definitely! Risk Financing prepared me for most of the reinsurance terms and I felt like I had a very good foundation from all of my RMI classes.
Interviewing/Hiring Process Comments:
One on-campus interview, and one half-day interview in Princeton, NJ.
Were you assigned any special projects?
My project dealt with looking at the current and (some) past MGAs and PAs that Munich Re worked with, and trying to find patterns of profitability. I developed and Excel sheet that had many different variables, and tried to understand why were certain ones more profitable than others. I looked at different combined ratios, premiums, audit reports, and met with my manager 1-2 times per week.
What were the supplemental benefits besides the pay?
Housing expenses were covered (up until a certain limit).
Describe the company's internship program.
The company culture was great! Everybody who I met was extremely friendly and seemed to love to work for the Company. I've truly enjoyed my experience and I played soccer with my co-workers every Monday after-work. There were "game-night" days and many Employee Resource Groups to join.
Was the internship what you expected after the interviewing/hiring process?
It was even more than I expected. Everything I heard about the company culture was true and the internship provided an invaluable experience.
Were you provided time off besides the weekend?
No.
Bridget Rush
Provide a General Description of the Internship. Include daily tasks completed, the company and its employees, and any other information.
It was a project based internship. Worked on a specific project throughout the summer and then presented work to leadership team. Had multiple interviews throughout the summer. Also had meet & greets with all the C-level executives.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
A mentor was assigned to give you more insight about the company, the full-time training position, and their similar experiences. They helped introduce you to various people throughout the company.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes. Without RMI classes the work would have been very hard to do and have meaning. Would have took a lot longer without a thorough understanding of insurance.
Interviewing/Hiring Process Comments:
Initial pre-screening interview at Temple. Second round (final) was at Munich Re's campus. Consisted of a writing test, a math test, and five 30 minute interviews.
Were you assigned any special projects? If so please describe.
Yes, they were projects specific to your division. All the projects were very meaningful and we presented them throughout the division and discussed with various leadership teams.
What were the supplemental benefits besides the pay? (Internship Lunches, Housing, Sports Games, Happy Hours, etc.)
Lunch & Learns, housing
Describe the company's internship program(atmosphere, work load, work, housing, outside work activities, etc.).
It was a very well developed program. I always had work or meetings to keep buys. Interns were also required to attend a few classes throughout the summer.
Was the internship what you expected after the interviewing/hiring process?
Yes
Were you provided time off besides the weekend?
Holidays
If you had to relocate, describe the process of adapting to a new city.
I moved to shorten the commute. Princeton is still pretty close to Philly so it was not a big change.
It was a project based internship. Worked on a specific project throughout the summer and then presented work to leadership team. Had multiple interviews throughout the summer. Also had meet & greets with all the C-level executives.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
A mentor was assigned to give you more insight about the company, the full-time training position, and their similar experiences. They helped introduce you to various people throughout the company.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes. Without RMI classes the work would have been very hard to do and have meaning. Would have took a lot longer without a thorough understanding of insurance.
Interviewing/Hiring Process Comments:
Initial pre-screening interview at Temple. Second round (final) was at Munich Re's campus. Consisted of a writing test, a math test, and five 30 minute interviews.
Were you assigned any special projects? If so please describe.
Yes, they were projects specific to your division. All the projects were very meaningful and we presented them throughout the division and discussed with various leadership teams.
What were the supplemental benefits besides the pay? (Internship Lunches, Housing, Sports Games, Happy Hours, etc.)
Lunch & Learns, housing
Describe the company's internship program(atmosphere, work load, work, housing, outside work activities, etc.).
It was a very well developed program. I always had work or meetings to keep buys. Interns were also required to attend a few classes throughout the summer.
Was the internship what you expected after the interviewing/hiring process?
Yes
Were you provided time off besides the weekend?
Holidays
If you had to relocate, describe the process of adapting to a new city.
I moved to shorten the commute. Princeton is still pretty close to Philly so it was not a big change.