Product Analysis Intern

FCIC•Bedford Park, IL

About The Position

First Chicago Insurance Company is seeking an eager, ambitious, and diligent intern for its Product and Actuarial Analysis Department. The role offers a college student or recent graduate hands-on business experience, an introduction to insurance terminology and concepts, and exposure to a variety of product initiatives. The intern will work primarily with Commercial lines of business. This is a temporary seasonal position, is not eligible for benefits, and requires availability to work 40 hours per week.

Requirements

Recently acquired or currently pursuing a bachelor's degree in Business Administration, Actuarial Science, Mathematics/Statistics, Economics, Finance, or a related field.
Cumulative GPA of at least 3.0 out of 4.0.
Excellent verbal and written communication skills.
Excellent quantitative, organizational, decision-making, and problem-solving skills.
Proficiency in Microsoft Word and Excel.
Must be able to work in the United States without sponsorship.
Ability to work 40 hours per week.
Internship is not eligible for university course credits.

Nice To Haves

Basic knowledge of the insurance industry.

Responsibilities

Plan, implement, manage, and/or contribute to projects of moderate complexity.
Analyze competitor product rates, features, and contract language.
Assist with creating rate, rule, and form filings for submission to the Department of Insurance to meet state regulatory requirements.
Assist across functional departments with new product development and existing product enhancements.
Research target markets and provide observations.
Complete special ad hoc projects, analysis, and reporting.
Participate in evaluating internal and external processes and procedures.
Assist with basic compliance and regulatory questions as needed.
Create and update monthly and quarterly reports.
Work with IT to implement basic system and web rate changes and enhancements.
Build strong relationships among team members and support cooperation on project objectives.