Product Analysis Intern

First Chicago Insurance Company (FCIC)•Chicago, IL

2d•$16 - $24

About The Position

First Chicago Insurance Company is seeking an eager, ambitious, and diligent intern to join its Product and Actuarial Analysis Department. The role offers a college student or recent graduate hands-on business experience, exposure to insurance terminology and concepts, and involvement in product initiatives, primarily for Commercial lines of business. This is a temporary seasonal position, is not eligible for university course credit, and is not benefit eligible. The position requires the ability to work 40 hours per week. Estimated compensation is $16 to $23.75 per hour; actual compensation depends on experience, skills, education, certifications, and geographic location.

Requirements

Recently acquired or currently pursuing a bachelor's degree in Business Administration, Actuarial Science, Math/Statistics, Economics, Finance, or another related field.
Cumulative GPA of 3.0 out of 4.0 or better.
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 U.S. without sponsorship.
Ability to work 40 hours per week.

Nice To Haves

Basic knowledge of the insurance industry is a plus, but not required.

Responsibilities

Plan, implement, manage, and/or contribute to projects up to moderate complexity.
Analyze competitor product rates, features, and contract language.
Assist in creating rate, rule, and form filings for submission to the Department of Insurance to satisfy state regulatory requirements.
Assist with new product development and enhancements to existing products across functional departments.
Research target markets and provide observations.
Handle special ad hoc projects, analysis, and reporting.
Participate in evaluating internal and external processes and procedures.
Assist with basic compliance and regulation 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.