Summer Intern

Salary: £25,000 per annum (pro-rated).

The Team

Actuaries are experts in risk management, using mathematical skills to measure the probability and risk of future events to look at the financial impact it may have on Hiscox and our clients. At Hiscox, Actuarial Reserving is responsible for ensuring integrity of financial statements and identifying key business trends. We are developing our team to help drive, influence and embed models and processes across finance and reserving to ensure we are the leading Actuarial Function in the market. The centralised team works across all of Hiscox’s extensive and varied portfolios, with the organisation operating three Syndicates at Lloyd’s, a Bermudian reinsurance & ILS carrier and has rapidly expanding commercial and retail carriers in the UK, US, Europe and Asia.

The Internship

During the internship you can expect to:

• Support with building new reserving models and parameterising existing models, articulating and documenting key judgements to colleagues as well as supporting impact assessments of new models compared with existing results.
• Collaborate with members of the team across different levels to support continuous work to improve and develop processes and key analysis.
• Be involved in various project work where you will learn key insights and provide meaningful conclusions to drive the business forward.
• Gain an understanding of the Reserving function and key processes, developing your technical skills and professional knowledge.
• Have an opportunity to build a network across the broader Actuarial team and understand the different roles and work within the function.

Throughout your internship, you will receive lots of support, starting with an induction day to welcome you into the business and get you settled in. Through targeted training sessions you will develop an understanding of our business and the industry we operate in. In addition, your line manager and dedicated ‘buddy’ will provide regular support throughout, and you will also have check-ins with the Early Careers team to talk through your development and internship experience.

As a business, we have adopted hybrid working, where we have a combination of time in the office and at home. In this role you can expect to be in the office approximately 2-3 days per week, although you are welcome to attend the office more frequently if you would like.

What is needed to excel in this opportunity?

• You’ll be studying for a degree in Actuarial Science, Mathematics, Statistics, Economics, Accountancy, Engineering, Chemistry or Physics
• Ambition, motivation and the ability to learn quickly
• A curiosity and hunger to learn, absorb and understand new information and concepts
• Excellent written and verbal communication skills
• An ability to identify problems and propose innovative solutions
• Analytical, organised, and systematic thinking style
• High level of attention to detail
• Team player, capable of building strong relationships and contributing to both individual and team goals
• A self-starter with the initiative and courage to stretch yourself out of your comfort zone

What are the requirements?

Our internships are open to current students in their penultimate year who are planning to return to one further year of undergraduate or postgraduate studies following their time with us. In other words, if you are due to graduate from an Undergraduate or Master’s degree in 2024, we want to hear from you.

Our internships are open to current students in their penultimate year who are planning to return to one further year of undergraduate or postgraduate studies following their time with us. In other words, if you are due to graduate from an Undergraduate or Master’s degree in 2024, we want to hear from you.

• You’ll be on course for at least a 2:1 degree (or equivalent) in Actuarial Science, Mathematics, Statistics, Economics, Accountancy, Engineering, Chemistry or Physics.
• As well as being able to demonstrate strong interpersonal skills, you’ll be good with numbers and able to speak and write fluently in business English.
• You must, by the start of the employment, have permission to work in the UK.

The Internship will take place from 26 June to 18 August 2023. The salary for our internship programme is £25,000 per annum (pro-rated).

The closing date for applications is 3 March 2023, although opportunities may close earlier if we receive a high volume of applicants – therefore we recommend that you apply as soon as possible.