Felix Bocchicchio
Risk Management Summer 2018
|
Role
Programs Underwriting Intern
Location
Hunt Valley, Maryland
Please list your major(s) and minor(s).
Major: RMI PnC; Minor: Finance
Provide a general description of the work at your internship.
My entire internship was spent shadowing the three different units at All Risks Ltd. First, I worked in "Programs" as an underwriting intern at All Risks Ltd. To start off, "Programs" is the name for teams who underwrite companies in their specific industries. So each program/team is assigned a different industry to underwrite. (underwrite = Price and cover risks from a desk). During my seven weeks, the first five were spent shadowing the programs. Underwriting companies in 2 different programs/industries per week, split in half. The sixth week is spend with brokers who have underwriting authority for small accounts, called the Hybrid unit. Meaning this team will be sent risks from agents to give to carriers and get quotes, in turn sending back to the agents (as taught in the Professor McCloskey's Class). If the account is small enough, the employees will cover/write the risk on behalf of the insurance company we represent (Everest Re). The last week is spent with the brokerage unit. They will receive risks (companies that need insurance) from agents and acquire quotes from carriers. That Is how I spent my time with All Risks Ltd.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentors were great. I could "let my guard down" with them. We hung out on a social and professional level. All risks does a good job at making you comfortable.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes
Interviewing/Hiring Process Comments:
Straightforward, no nonsense, interview process.
Were you assigned any special projects?
If so please describe. I collected Affidavit Part Cs from roughly 250 agents in the region. Affidavit Part Cs show that the isk was denied by the admitted market three times.
What were the supplemental benefits besides the pay?
I received free housing, a rental car, and roughly two lunches per week comped by the company.
Describe the company's internship program (atmosphere, work load, work, housing, outside work activities, etc.).
Very work hard play hard. A lot of Temple alumni too.
Was the internship what you expected after the interviewing/hiring process?
Yes.
Were you provided time off besides the weekend?
Yes, work hours were 8:30/9-5:00
Programs Underwriting Intern
Location
Hunt Valley, Maryland
Please list your major(s) and minor(s).
Major: RMI PnC; Minor: Finance
Provide a general description of the work at your internship.
My entire internship was spent shadowing the three different units at All Risks Ltd. First, I worked in "Programs" as an underwriting intern at All Risks Ltd. To start off, "Programs" is the name for teams who underwrite companies in their specific industries. So each program/team is assigned a different industry to underwrite. (underwrite = Price and cover risks from a desk). During my seven weeks, the first five were spent shadowing the programs. Underwriting companies in 2 different programs/industries per week, split in half. The sixth week is spend with brokers who have underwriting authority for small accounts, called the Hybrid unit. Meaning this team will be sent risks from agents to give to carriers and get quotes, in turn sending back to the agents (as taught in the Professor McCloskey's Class). If the account is small enough, the employees will cover/write the risk on behalf of the insurance company we represent (Everest Re). The last week is spent with the brokerage unit. They will receive risks (companies that need insurance) from agents and acquire quotes from carriers. That Is how I spent my time with All Risks Ltd.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentors were great. I could "let my guard down" with them. We hung out on a social and professional level. All risks does a good job at making you comfortable.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes
Interviewing/Hiring Process Comments:
Straightforward, no nonsense, interview process.
Were you assigned any special projects?
If so please describe. I collected Affidavit Part Cs from roughly 250 agents in the region. Affidavit Part Cs show that the isk was denied by the admitted market three times.
What were the supplemental benefits besides the pay?
I received free housing, a rental car, and roughly two lunches per week comped by the company.
Describe the company's internship program (atmosphere, work load, work, housing, outside work activities, etc.).
Very work hard play hard. A lot of Temple alumni too.
Was the internship what you expected after the interviewing/hiring process?
Yes.
Were you provided time off besides the weekend?
Yes, work hours were 8:30/9-5:00
Justin Johnson
Provide a General Description of the Internship. Include daily tasks completed, the company and its employees, and any other information.
Most days tasks included shadowing underwriters in different programs. The underwriter you were placed with would determine whether or not you got hands on experience.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor was younger than me but very knowledgable.
Did you feel your RMI/AS classes better prepared you for the internship?
Boot camp gave me a baseline in which I had a basic understanding of how things should work.
Interviewing/Hiring Process Comments:
1st round Interview conducted at the career fair was formal yet relaxed. 2nd round was the following day and was once again more relaxed and the questions mostly consisted of why insurance, why temple, tell me about yourself. The offer came two weeks later.
Were you assigned any special projects? If so please describe.
The interns were split into multiple groups and were assigned projects based on locality. Myself and two other interns were assigned a cyber liability program. We had to design and piece together a cyber program because all risks was looking into breaking into that marketplace.
What were the supplemental benefits besides the pay? (Internship Lunches, Housing, Sports Games, Happy Hours, etc.)
Happy hours, Lunches, time for the project, ubers to and from batlimore were reimbursed, they paid expenses for travel during the entire internship.
Describe the company's internship program(atmosphere, work load, work, housing, outside work activities, etc.).
Company was always willing to take us out almost every night. They took myself and one other intern to an Orioles game. Happy hours were prevelent. We had one week of formal training and the other six weeks were shadowing.
Was the internship what you expected after the interviewing/hiring process?
Yes
If you had to relocate, describe the process of adapting to a new city.
Hunt Valley is effectively a suburb of Baltimore but is close enough to the city (15 minutes) to be able get the full benefits of the city.
Most days tasks included shadowing underwriters in different programs. The underwriter you were placed with would determine whether or not you got hands on experience.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor was younger than me but very knowledgable.
Did you feel your RMI/AS classes better prepared you for the internship?
Boot camp gave me a baseline in which I had a basic understanding of how things should work.
Interviewing/Hiring Process Comments:
1st round Interview conducted at the career fair was formal yet relaxed. 2nd round was the following day and was once again more relaxed and the questions mostly consisted of why insurance, why temple, tell me about yourself. The offer came two weeks later.
Were you assigned any special projects? If so please describe.
The interns were split into multiple groups and were assigned projects based on locality. Myself and two other interns were assigned a cyber liability program. We had to design and piece together a cyber program because all risks was looking into breaking into that marketplace.
What were the supplemental benefits besides the pay? (Internship Lunches, Housing, Sports Games, Happy Hours, etc.)
Happy hours, Lunches, time for the project, ubers to and from batlimore were reimbursed, they paid expenses for travel during the entire internship.
Describe the company's internship program(atmosphere, work load, work, housing, outside work activities, etc.).
Company was always willing to take us out almost every night. They took myself and one other intern to an Orioles game. Happy hours were prevelent. We had one week of formal training and the other six weeks were shadowing.
Was the internship what you expected after the interviewing/hiring process?
Yes
If you had to relocate, describe the process of adapting to a new city.
Hunt Valley is effectively a suburb of Baltimore but is close enough to the city (15 minutes) to be able get the full benefits of the city.