Actuarial Intern (Summer 2024)

Milliman’s Casualty Practice is looking for motivated college students pursuing a bachelor’s or master’s degree to partake in a summer actuarial internship. We offer competitive pay with the opportunity to work on real world assignments in our vibrant, dynamic, and growing casualty consulting practice.

Who We Are

Independent for over 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world’s most critical and complex issues, including data analytics and risk management, retirement funding and healthcare financing, and regulatory compliance and business transformation.

Our Actuarial Internship Provides You With

• Challenging projects with practical on-the-job experience
• An opportunity to work alongside Milliman consultants who are leading experts in the property and casualty insurance industry, including those in senior management
• Exposure to a variety of actuarial functions, including pricing, model development, reserving, product development, and forecasting
• An opportunity to present your summer experience to your Milliman colleagues
• Attendance at professional staff meetings, department meetings, and social events
• Paid time off for the day of an actuarial exam
• On-the-job mentorship from experienced actuaries
• Competitive pay, including a housing stipend
• Prospect of securing a full-time position with Milliman

Job Responsibilities

• Perform data analysis using Excel, VBA, SAS, R, Python, and proprietary Milliman programs to assist with consulting for various property and casualty insurance work areas (Professional Liability, Workers Compensation, Personal Auto, Homeowners, Mortgage Credit Risk, and more)
• Participate in consulting activities that include pricing, loss reserving, predictive modeling, product development, financial projections, and mergers and acquisitions
• Responsible for reviewing the work of peers and assisting with research projects and business development
• Coordinate with Consultants and Analysts as a project team to deliver client reports and deliverables
• Responsible for the majority of the technical work, which may include analyzing data, completing actuarial calculations, developing and utilizing actuarial models, and implementing software solutions

Minimum Requirements

• Pursuing a bachelor’s or master’s degree in actuarial science, mathematics, or another major with quantitative course work with junior standing (will also consider sophomores)
• At least one actuarial exam passed

Competencies and Behaviors that Support Success in this Role

• Experience working with R, SAS, VBA, or other coding languages
• Strong communication skills (both verbal and written)
• Analytical thinking skills to evaluate analyses for downstream impact
• Ability to complete project-related tasks, meet deadlines, and comply with quality control procedures
• Strong time management skills
• Ability to work independently and in a team environment
• Ambition and excitement for professional development within the actuarial field
• Demonstrates integrity in all functions of work

Candidates should have academic exposure to Microsoft Excel and basic actuarial concepts. Prior internship(s) or actuarial-related work experience is beneficial but not required.

The Team

Milliman is one of the leading experts in property and casualty insurance matters. We advise clients on a wide range of issues – from estimating loss reserves to developing rating plans and evaluating mortgage collateral for government agencies, mortgage lenders, and investors. Our consulting work is supported by a powerful toolkit of data analytics solutions.

Through a team of professionals ranging from actuaries to economists, technology specialists to claim specialists, we offer unparalleled expertise in property and casualty insurance, as well as employee benefits, investment consulting, healthcare, life insurance, and financial services.

Compensation:

The range is $18-$35 per hour, depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc.  A housing stipend may also be provided.

Location:

This position will be based out of the Milliman office in Brookfield, WI

Benefits:

• When an intern, temporary, or seasonal employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan with matching program and profit sharing contribution
• Employee Assistance Program (EAP)
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason. Interns, Temporary, and Seasonal Employees will earn PTO each pay period, with an accrual rate of 1 hour for every 30 hours worked

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.