Helen Davidson
Actuarial Science Summer 2019
|
Role
Commercial Lines Actuarial Intern
Location
West Trenton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Actuarial Science M.S.
Provide a general description of the work at your internship.
I began my internship looking at loss data on one of our lines of business in a specific state, and I had to compare that to state-wide business of the same type and evaluate NJM’s experience as a whole while identifying problematic accounts. I then began performing research for a new line of business that will be launched in 2020, and became an integral part of the development team. I was included in the rate review work for one of our lines of business, and helped prepare the exhibits to present our recommendations to the executive leadership team.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor provided much-needed guidance in not only how to perform the tasks required of me, but also provided extensive career advice.
Did you feel your RMI/AS classes better prepared you for the internship?
Absolutely. It would have been great to have had the property and casualty course I’m currently enrolled in before working at a p&c company, but I got by.
Interviewing/Hiring Process Comments:
I wish I had taken better notes of who interviewed me. I met 5 people in one day and I didn’t remember who the 5th one was when I started. He remembered me, and I was caught wrong-footed conversationally for that encounter.
Were you assigned any special projects? If so please describe.
The interns at NJM are grouped with each other, across departments, and are required to present on some emerging trend in insurance. I learned a lot about how the rest of the company operates by chatting with my group mates.
What were the supplemental benefits besides the pay?
There were 2 free lunches, but the best thing is the cafeteria at NJM is subsidized, and the food is usually really good. It was cheaper to eat breakfast and lunch at work than to bring my own food.
Describe the company's internship program.
You’re enmeshed in your department, you may or may not work with other interns. You do real work that the company needs done. Management is very strict on making sure you don’t work more than you should, and they were flexible if I needed time off. NJM only recruits from local schools, so they don’t offer any sort of housing. There were several evening events and community service events, but I was unfortunate unable to attend them.
Was the internship what you expected after the interviewing/hiring process?
Yes
Were you provided time off besides the weekend?
We had the 4th of July off, and we accrued sick time. If a day was needed otherwise, you could take time off but not get paid. They had the option for interns to work 4 days a week.
Commercial Lines Actuarial Intern
Location
West Trenton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Actuarial Science M.S.
Provide a general description of the work at your internship.
I began my internship looking at loss data on one of our lines of business in a specific state, and I had to compare that to state-wide business of the same type and evaluate NJM’s experience as a whole while identifying problematic accounts. I then began performing research for a new line of business that will be launched in 2020, and became an integral part of the development team. I was included in the rate review work for one of our lines of business, and helped prepare the exhibits to present our recommendations to the executive leadership team.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor provided much-needed guidance in not only how to perform the tasks required of me, but also provided extensive career advice.
Did you feel your RMI/AS classes better prepared you for the internship?
Absolutely. It would have been great to have had the property and casualty course I’m currently enrolled in before working at a p&c company, but I got by.
Interviewing/Hiring Process Comments:
I wish I had taken better notes of who interviewed me. I met 5 people in one day and I didn’t remember who the 5th one was when I started. He remembered me, and I was caught wrong-footed conversationally for that encounter.
Were you assigned any special projects? If so please describe.
The interns at NJM are grouped with each other, across departments, and are required to present on some emerging trend in insurance. I learned a lot about how the rest of the company operates by chatting with my group mates.
What were the supplemental benefits besides the pay?
There were 2 free lunches, but the best thing is the cafeteria at NJM is subsidized, and the food is usually really good. It was cheaper to eat breakfast and lunch at work than to bring my own food.
Describe the company's internship program.
You’re enmeshed in your department, you may or may not work with other interns. You do real work that the company needs done. Management is very strict on making sure you don’t work more than you should, and they were flexible if I needed time off. NJM only recruits from local schools, so they don’t offer any sort of housing. There were several evening events and community service events, but I was unfortunate unable to attend them.
Was the internship what you expected after the interviewing/hiring process?
Yes
Were you provided time off besides the weekend?
We had the 4th of July off, and we accrued sick time. If a day was needed otherwise, you could take time off but not get paid. They had the option for interns to work 4 days a week.
Christopher Filips
Actuarial Science Summer 2019
|
Role
Actuarial Intern - Reserving
Location
West Trenton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Actuarial Science
Provide a general description of the work at your internship.
I was given real work to complete throughout the summer. I worked on a few different projects each of which gave me exposure to different aspects of property and casualty insurance. All of the analysts were always willing to answer and questions I had and could provide further explanation when needed. Throughout the summer I learned a lot about property and casualty insurance. Through my projects, I learned about different reserving techniques.
Did you have a mentor?
No
Did you feel your RMI/AS classes better prepared you for the internship?
Actuarial Practice: Property and Liability helped to prepare me for this internship. Loss triangles are extremely relevant in property and casualty insurance. It is also important to have a basic understanding of the different lines of business that P&C insurers may write.
Interviewing/Hiring Process Comments: I interviewed with NJM at the reception. Following the reception, they asked me to apply online. Shortly after, I had a phone interview and in person interview. For the in person interview, I met with two pairs of actuarial analysts.
Were you assigned any special projects?
There was also an intern presentation which helped to solve a business problem. I was paired with five other interns from different business units. We then presented this project to various senior executives.The actuarial work that I completed was meaningful. It was easy to see how my work was being used or will be used in the future.
What were the supplemental benefits besides the pay?
Intern lunches, Intern volunteer events, Intern baseball games
Describe the company's internship program.
The intern program at NJM is great! There are many opportunities to learn. All of the actuaries are extremely friendly. We all had lunch together everyday. There are also opportunities to meet the other interns and share experiences.
Was the internship what you expected after the interviewing/hiring process?
The internship exceeded my expectations!
Were you provided time off besides the weekend?
We were paid on an hourly basis. Depending on your supervisor, hours varied slightly.
Actuarial Intern - Reserving
Location
West Trenton, NJ
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Actuarial Science
Provide a general description of the work at your internship.
I was given real work to complete throughout the summer. I worked on a few different projects each of which gave me exposure to different aspects of property and casualty insurance. All of the analysts were always willing to answer and questions I had and could provide further explanation when needed. Throughout the summer I learned a lot about property and casualty insurance. Through my projects, I learned about different reserving techniques.
Did you have a mentor?
No
Did you feel your RMI/AS classes better prepared you for the internship?
Actuarial Practice: Property and Liability helped to prepare me for this internship. Loss triangles are extremely relevant in property and casualty insurance. It is also important to have a basic understanding of the different lines of business that P&C insurers may write.
Interviewing/Hiring Process Comments: I interviewed with NJM at the reception. Following the reception, they asked me to apply online. Shortly after, I had a phone interview and in person interview. For the in person interview, I met with two pairs of actuarial analysts.
Were you assigned any special projects?
There was also an intern presentation which helped to solve a business problem. I was paired with five other interns from different business units. We then presented this project to various senior executives.The actuarial work that I completed was meaningful. It was easy to see how my work was being used or will be used in the future.
What were the supplemental benefits besides the pay?
Intern lunches, Intern volunteer events, Intern baseball games
Describe the company's internship program.
The intern program at NJM is great! There are many opportunities to learn. All of the actuaries are extremely friendly. We all had lunch together everyday. There are also opportunities to meet the other interns and share experiences.
Was the internship what you expected after the interviewing/hiring process?
The internship exceeded my expectations!
Were you provided time off besides the weekend?
We were paid on an hourly basis. Depending on your supervisor, hours varied slightly.
Joseph Zalot
Actuarial Science Summer 2018
|
Role
Actuarial Intern
Location
West Trenton, NJ
Please list your major(s) and minor(s).
Actuarial Science
Provide a general description of the work at your internship.
At the beginning of the internship, I was given a tutorial on SAS/SQL and the language that NJM uses in its databases. Upon completing that, I was primarily assigned projects where I had to write SQL code in SAS and import the data I extracted into Excel for analysis. I was given various projects throughout the summer where I gained experience in variable analyses for personal auto rate reviews and reserving methods. I was also given training on PowerBI, which is a data visualization software, and was able to incorporate that into some of my projects. I was also given a VBA tutorial and the opportunity to develop those skills.
Did you have a mentor?
No
Did you feel your RMI/AS classes better prepared you for the internship?
Yes. The industry language I learned in my RMI and AS classes helped me have a better grasp on topics that were discussed in meetings and the statistical techniques used in the department.
Were you assigned any special projects?
I completed a quarterly auto liability bulk reserve review by analyzing losses and making selections for ultimate losses using expected loss ratio, chain ladder, and Bornhuetter-Ferguson methods. Also, I used SAS and Excel to analyze loss ratio, retention, and bind rate across various variables, including PIP limit and deductible amount, to help the department in its auto rate review and determine if the factors needed to be re-calibrated. Lastly, the interns were given a project where were able to work with four other interns from different departments to solve a business problem. My team looked at partnerships NJM should consider with regard to insurance technology.
What were the supplemental benefits besides the pay?
There were opportunities to go to sports games with other interns, community service events, and an intern luncheon.
Describe the company's internship program.
The actuarial department at NJM is around 10-12 people, so it was a very laid back and open environment. Throughout the summer, there was always work for me and I was always working on at least one project. I felt comfortable asking for feedback and asking questions when I was confused about something. My manager also let me study for Exam IFM for about an hour a day because I was sitting for it in July.
Was the internship what you expected after the interviewing/hiring process?
The internship at NJM exceeded my expectations. I gained so many technical and industry skills, developed professionally, and made many connections at my time at NJM. My manager really cared about me getting the most out of my internship and the actuarial department at NJM made the interns feel welcomed and gave us plenty of meaningful work.
Were you provided time off besides the weekend?
I had the option to work 4 days, but I decided to work 5 days because I wanted the most out of experience.
Actuarial Intern
Location
West Trenton, NJ
Please list your major(s) and minor(s).
Actuarial Science
Provide a general description of the work at your internship.
At the beginning of the internship, I was given a tutorial on SAS/SQL and the language that NJM uses in its databases. Upon completing that, I was primarily assigned projects where I had to write SQL code in SAS and import the data I extracted into Excel for analysis. I was given various projects throughout the summer where I gained experience in variable analyses for personal auto rate reviews and reserving methods. I was also given training on PowerBI, which is a data visualization software, and was able to incorporate that into some of my projects. I was also given a VBA tutorial and the opportunity to develop those skills.
Did you have a mentor?
No
Did you feel your RMI/AS classes better prepared you for the internship?
Yes. The industry language I learned in my RMI and AS classes helped me have a better grasp on topics that were discussed in meetings and the statistical techniques used in the department.
Were you assigned any special projects?
I completed a quarterly auto liability bulk reserve review by analyzing losses and making selections for ultimate losses using expected loss ratio, chain ladder, and Bornhuetter-Ferguson methods. Also, I used SAS and Excel to analyze loss ratio, retention, and bind rate across various variables, including PIP limit and deductible amount, to help the department in its auto rate review and determine if the factors needed to be re-calibrated. Lastly, the interns were given a project where were able to work with four other interns from different departments to solve a business problem. My team looked at partnerships NJM should consider with regard to insurance technology.
What were the supplemental benefits besides the pay?
There were opportunities to go to sports games with other interns, community service events, and an intern luncheon.
Describe the company's internship program.
The actuarial department at NJM is around 10-12 people, so it was a very laid back and open environment. Throughout the summer, there was always work for me and I was always working on at least one project. I felt comfortable asking for feedback and asking questions when I was confused about something. My manager also let me study for Exam IFM for about an hour a day because I was sitting for it in July.
Was the internship what you expected after the interviewing/hiring process?
The internship at NJM exceeded my expectations. I gained so many technical and industry skills, developed professionally, and made many connections at my time at NJM. My manager really cared about me getting the most out of my internship and the actuarial department at NJM made the interns feel welcomed and gave us plenty of meaningful work.
Were you provided time off besides the weekend?
I had the option to work 4 days, but I decided to work 5 days because I wanted the most out of experience.
Lian King
Actuarial Science Spring 2018
|
Provide a General Description of the Internship. Include daily tasks completed, the company and its employees, and any other information.
I typically worked 4 days a week with 7.75 hours per day. I could come in 5 days if I wished and start time was flexible. Over the summer, I worked on several different projects, many ad hoc. I worked with SAS a lot. If I didn't have any work, I could study for exams.
Did you have a mentor?
No
Did you feel your RMI/AS classes better prepared you for the internship?
Intro to Risk was useful for knowing insurance terminology and the field in general.
Interviewing/Hiring Process Comments:
I applied for other positions in the company online but later there was an opening in actuarial. I had one in-person interview with their head actuary and two other managers for around 30 minutes.
Were you assigned any special projects? If so please describe.
All the interns worked on a project examining the digital marketing of competing auto insurance companies. At the end of the summer we presented our findings to executives.
What were the supplemental benefits besides the pay? (Internship Lunches, Housing, Sports Games, Happy Hours, etc.)
There was one Leadership Lunch and opportunities to volunteer during work.
Describe the company's internship program(atmosphere, work load, work, housing, outside work activities, etc.).
There were around 20 interns across the company. You don't often see interns who aren't in your department. Everyone I worked with was very kind and supportive. I felt comfortable going to any of my co-workers with a question.
Was the internship what you expected after the interviewing/hiring process?
Yes
I typically worked 4 days a week with 7.75 hours per day. I could come in 5 days if I wished and start time was flexible. Over the summer, I worked on several different projects, many ad hoc. I worked with SAS a lot. If I didn't have any work, I could study for exams.
Did you have a mentor?
No
Did you feel your RMI/AS classes better prepared you for the internship?
Intro to Risk was useful for knowing insurance terminology and the field in general.
Interviewing/Hiring Process Comments:
I applied for other positions in the company online but later there was an opening in actuarial. I had one in-person interview with their head actuary and two other managers for around 30 minutes.
Were you assigned any special projects? If so please describe.
All the interns worked on a project examining the digital marketing of competing auto insurance companies. At the end of the summer we presented our findings to executives.
What were the supplemental benefits besides the pay? (Internship Lunches, Housing, Sports Games, Happy Hours, etc.)
There was one Leadership Lunch and opportunities to volunteer during work.
Describe the company's internship program(atmosphere, work load, work, housing, outside work activities, etc.).
There were around 20 interns across the company. You don't often see interns who aren't in your department. Everyone I worked with was very kind and supportive. I felt comfortable going to any of my co-workers with a question.
Was the internship what you expected after the interviewing/hiring process?
Yes