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Travelers is hiring an

Actuarial Co-op (CAT Risk Management, Sept-Dec 2024)

Who Are We?

Solid reputation, passionate people and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

What Is the Opportunity?

The Actuarial Internship Program provides qualified students with an excellent opportunity to gain first-hand experience, receive valuable on-the-job training and learn more about the property & casualty insurance industry.

This role is an exciting opportunity to work with one of the largest employers of P&C actuaries in North America. As an Actuarial Assistant, the successful candidate will be offered an opportunity to gain relevant property and casualty insurance and business experience in personal and/or commercial lines while working in a dynamic, team-focused environment.

As a member of the Actuarial Department, the candidate will act as an effective contributor to their team, and will interact with insurance professionals from underwriting, claims, finance and information systems as necessary.

Roles available: CAT Risk Management

Candidates may be required to work for other teams on an ad-hoc basis however. The candidate will be responsible for a range of projects and tasks which will involve interaction with many areas of the business.

Each intern will be expected to complete challenging and meaningful project work over the course of this program. In addition, there are core assignments and a designated coach to further develop interns’ insurance knowledge.

- Data preparation, validation, reconciliation and analysis of premium, claims and other data

- Managing multiple projects simultaneously

- Developing product knowledge

- Testing of new rate systems

- Statistical model building and validation

- Exposure to machine learning models and working in python

- Using software such as SAS, MS Access and Excel to produce analyses

- Supporting implementation of rate changes, product enhancements and testing controls

- Supporting quarterly reserve analysis for all lines of business

- Supporting exposure management and concentration analysis

- Determining estimates for catastrophic events

- Assisting with responding to active catastrophic events

Because the Actuarial Internship Program itself is complex and dynamic, we welcome applicants that have a variety of majors, backgrounds and experiences.

For this internship opportunity, we are most interested in students who are serious about entering the insurance industry and who are excited about the prospect of making actuarial their future career choice.

Preferred cumulative GPA of 3.0 or above. Undergraduate students completing their 3rd or 4th year is preferred.

  • Strong academic record
  • Strong verbal communication skills
  • Commitment to passing actuarial examinations
  • Skilled independent problem solver
  • Self-motivated team player
  • Detail oriented
  • Proficiency with Microsoft Excel
  • Knowledge of Microsoft Access, VBA or SAS considered an asset
  • Prior actuarial experience considered an asset

What Is in It for You?

  • Health Insurance: Employees and their eligible family members – including spouses, partners, and children – are eligible for coverage from the first day of employment.
  • Retirement: Travelers provides a core contribution of 3% of your total eligible earnings to your Deferred Profit Sharing Plan (“DPSP”). Travelers also matches your savings plan contribution dollar-for-dollar up to 5% of base pay.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off (“PTO”) annually, plus the opportunity to purchase additional days to allow for up to a total of 36 PTO days per year. You will also receive twelve paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Equal Employment Opportunity Statement

Travelers is an equal opportunity employer. We are committed to providing accommodation to persons with disabilities. If you require accommodation during the recruitment or interview process we will work with you to accommodate your needs.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

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