Intern - Actuarial & Analytics Analyst

Hanover Insurance Group - Worcester, MA

Full-time - Intern

Worcester, MA

Insurance Carriers and Related Activities

About the position

The Hanover's Internship Program offers college students a unique opportunity to engage in meaningful projects that align with their academic knowledge and career interests. This 10-week summer internship, running from June to mid-August, is designed to provide students with hands-on experience in the Actuarial & Analytics field. Interns will work closely with a team of talented professionals, including leaders, managers, and subject matter experts, who will provide mentorship and support throughout the program. The internship also includes participation in a cross-functional team-building project focused on corporate philanthropy, allowing interns to contribute to the community while developing their teamwork skills. Throughout the internship, participants will attend weekly development workshops aimed at enhancing their professional skills and networking with peers. Engaging in social activities with other interns will foster a sense of community and collaboration. The program is not only about gaining experience but also about preparing interns for potential future full-time employment opportunities upon graduation. The Actuarial & Analytics team is particularly interested in exceptional college students who are eager to learn and grow in a dynamic environment. In this role, interns will be responsible for compiling and validating requirements for IT systems to ensure effective implementation of filings. They will test pricing systems to ensure compliance with established guidelines and analyze both company and industry experience as needed. Interns will design and prepare special reports and data compilations, drawing inferences from the data collected. Communication with customers to discuss analysis results is also a key component of the role, along with performing competitive analysis and preparing preliminary recommendations under supervision. Additionally, interns will monitor compliance with various rating organizations and maintain pricing or data management systems, participating in cross-functional projects that interact with multiple departments. Documentation of existing processes and adherence to peer review guidelines will be essential, culminating in a final presentation to management and leadership at the end of the internship.

Responsibilities

• Compile and validate requirements for IT systems to effectively and efficiently implement filings.
• Test pricing systems to validate adherence to filings.
• Analyze company and industry experience as required.
• Design and prepare special reports and other data compilations as requested.
• Understand and draw inferences from data being collected.
• Communicate with customers to discuss analysis results.
• Analyze, compile, and perform competitive analysis.
• Prepare preliminary recommendations under supervision.
• Monitor compliance with ISO, NCCI, State Rating Bureaus, and other Rating Service organizations and recommend actions.
• Maintain pricing or data management systems.
• Participate in cross-functional projects that interact with systems, operations, product, compliance, and the actuarial department.
• Prepare and maintain documentation for existing processes.
• Adhere to peer review guidelines.
• Perform other projects and assignments as directed.
• Create and present a final presentation for management and leadership members at the close of the internship program highlighting the work you accomplished throughout the summer.

Requirements

• Cumulative GPA of 3.0 or higher preferred.
• Ability to commit to a full-time 10-week internship program.
• Ability to work in the U.S. without requiring sponsorship now or in the future.
• 0-2 years of professional working experience.
• Understand fundamental analytical concepts, practices, and procedures.
• Strong analytical, strategic thinking, and decision-making skills.
• A high degree of self-motivation and demonstrates high attention to detail.
• Intellectual curiosity and creativity.