IFFCO Tokio Insurance Company
Actuarial Science Summer 2019
Video |
Role
Actuarial Intern
Location
Gurgaon, India
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Major - Actuarial Science, Minor - Statistics + Data Science
Provide a general description of the work at your internship.
I carried out the project of developing and pricing the hospital daily cash policy. This project required the market research of existing products available, which helped in development of new product. Additionally, I also collected hospital data for pricing of premium and organized them in Excel pivot tables for analyzing them.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor gave me the projects that I did at ITGI. He checked on the work that I was doing daily and gave me reasonable criticism and other ideas for improving my research.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes
Were you assigned any special projects? If so please describe.
I was given two projects during my internship. The first project involved comparing the proposed fire insurance draft with the All India Tariff 2001 for the senior actuary of the company. I also analyzed the fire exposure draft to make recommendations for structural and general changes to the existing fire insurance policy because of the existing customer issues.
The second project involved developing and pricing of hospital daily cash policy
using actuarial methods. I proposed a report which included the coverage provided, exclusions, target customers, renewal conditions, etc. This policy was priced using the unorganized data collected from hospitals regarding no. of patients and their no. of days of normal hospitalization and ICU hospitalization.
What were the supplemental benefits besides the pay?
Lunch meetings with managers and other analysts on every Friday.
Describe the company's internship program.
The atmosphere was very friendly. All the senior actuaries as well as the managers were willing to answer questions regularly and checked-in and offered help when free.
The work load was not too much. Enough time was provided to report the projects that were given.
Work - engaging, very relevant to the healthcare industry (trend rates, mortality assumptions, etc.)
Housing - The company does not provide housing.
Was the internship what you expected after the interviewing/hiring process?
Yes
Were you provided time off besides the weekend?
No, but ITGI is very flexible and will accommodate your request if you let them know.
Actuarial Intern
Location
Gurgaon, India
When did you work there?
Summer 2019
Please list your major(s) and minor(s).
Major - Actuarial Science, Minor - Statistics + Data Science
Provide a general description of the work at your internship.
I carried out the project of developing and pricing the hospital daily cash policy. This project required the market research of existing products available, which helped in development of new product. Additionally, I also collected hospital data for pricing of premium and organized them in Excel pivot tables for analyzing them.
Did you have a mentor?
Yes
If so, how did he/she help you during your internship?
My mentor gave me the projects that I did at ITGI. He checked on the work that I was doing daily and gave me reasonable criticism and other ideas for improving my research.
Did you feel your RMI/AS classes better prepared you for the internship?
Yes
Were you assigned any special projects? If so please describe.
I was given two projects during my internship. The first project involved comparing the proposed fire insurance draft with the All India Tariff 2001 for the senior actuary of the company. I also analyzed the fire exposure draft to make recommendations for structural and general changes to the existing fire insurance policy because of the existing customer issues.
The second project involved developing and pricing of hospital daily cash policy
using actuarial methods. I proposed a report which included the coverage provided, exclusions, target customers, renewal conditions, etc. This policy was priced using the unorganized data collected from hospitals regarding no. of patients and their no. of days of normal hospitalization and ICU hospitalization.
What were the supplemental benefits besides the pay?
Lunch meetings with managers and other analysts on every Friday.
Describe the company's internship program.
The atmosphere was very friendly. All the senior actuaries as well as the managers were willing to answer questions regularly and checked-in and offered help when free.
The work load was not too much. Enough time was provided to report the projects that were given.
Work - engaging, very relevant to the healthcare industry (trend rates, mortality assumptions, etc.)
Housing - The company does not provide housing.
Was the internship what you expected after the interviewing/hiring process?
Yes
Were you provided time off besides the weekend?
No, but ITGI is very flexible and will accommodate your request if you let them know.