Insurance Operations Intern
About The Position
This position will provide the opportunity to work on a variety of critical business assignments, test acquired skills, use academic knowledge and match interests to a real job during a cross functional rotation in key areas of the organization. This unique opportunity will provide valuable experience and a complete understanding of our business operations. Functional areas of focus: Underwriting and Rating The rating and policy issuance process. Farmers of Salem underwriting philosophy, insurance products and strategies. Underwriting rules, manual guidelines, insurance laws and regulations Identifying critical issues and problem areas the team needs to address Product Development/Management Product development and enhancement MSO programs State filing processes and regulations Testing processes Claims Information gathering in relation to initial claim reporting Conducting thorough investigations and evaluating losses Determining coverage based on specific claim, and thorough policy analysis Making decisions about liability and compensability Negotiation strategies in relation to the resolution of a claim Overview of Unfair Claims Settlement Practices Act, Bad Faith Laws, DOBI claims climate Farmers of Salem Claims Handling Philosophy To include at least 1 day on the road inspecting either property or liability claims with independent adjuster Finance Insurance finance processes including revenue, expense, financial models, budgets and reinsurance. Direct Bill process Information Systems Technology that supports our Agents, Insureds and Staff. Industry technology and its applicability to our current processes. Marketing Development and enhancement of marketing products, procedures and services. Agent selection, onboarding and relationship development Changing market conditions and competitor activity Business Plan evaluation and enhancement Agency Operations Overview of agency operations and best practices Understanding of products and services employed to increase agent business and retention
Requirements
- Strong interest in a career in Property & Casualty Insurance
- Strong communication, analytical and problem solving skills
- Outstanding interpersonal skills
- Self motivated
- Strong customer service orientation
- Planning, organizing and time management skills
- Basic to intermediate level Excel, Word, Power Point skills
- Ability to work at a computer for an extended period of time
- Ability to lift and move objects weighing up to 20 pounds
- Current college student entering Junior or Senior academic year
- GPA of 3.0 or above
Nice To Haves
- Risk Management, Insurance and other business majors preferred
Responsibilities
- Learn essential functions of all departments and gain an understanding of Property & Casualty insurance carrier operations
- Assist insurance professionals with day-to-day assignments
- Utilize analytical and problem solving skills
- Accept and complete project work assignments
- Participate in departmental meetings and activities
- Maintain a professional attitude including oral, written communication and appearance with all customers (Agency, insureds and company personnel)
- Perform other related duties as required or assigned
- Keep confidential all information obtained during course of employment
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What This Job Offers
Career Level
Intern
Education Level
No Education Listed
