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Salary Title:
2024 Reinsurance Underwriting Summer Internship Program – London Company:
Everest Advisors (Uk), Ltd. Job Category:
Interns Job Description:
Reinsurance Internship 2024
London, UK
Are you interested in a career in underwriting? Perhaps you wish to become an Actuary, or you have an interest in the law and claims? Join Everest’s 2024 Reinsurance internship scheme, just a stone’s throw from the iconic Lloyd’s of London building on Lime Street, in the heart of the city.
This is a fantastic opportunity for smart, intuitive, inquisitive minds to join a leading global financial organisation that is genuinely passionate about the development of our entry level employees and future leaders. We pride ourselves on nurturing talent and kick-starting lifelong careers in a professional, exciting, and long-standing industry.
So, what is reinsurance?
Essentially, it’s the insurance of insurance. Our clients are insurance companies who need additional protection for the risks they assume. But this additional protection is not for the standard car, home, and pet coverage you might think of when you hear the word ‘insurance’. Here at Everest, we reinsure special, high-value or high-risk businesses and industries across different classes of insurance such as Aviation, Property, Engineering, Public and Employers’ Liability, Professional Indemnity, Medical Malpractice, Accident & Health, Contingency and Cyber.
The ”risks” our clients might reinsure could range from Messi’s left foot, a rocket launch, a cargo ship transporting luxury cars, the Ed Sheeran Tour, a petrochemical refinery or a thousand residential properties on the coast of Florida.
When the worst happens, a policyholder is reliant on their Insurer to help them recover and move forward. But what happens when a hurricane hits the USA, a major music festival is cancelled because of Covid, or a CEO’s ill-timed tweet plunges a company’s share price? Thematic events like this can result in huge losses for Insurers and that is where reinsurance comes in. Reinsurers like Everest Re not only pay claims at the time of loss; more importantly, we provide business continuity.
Our opportunity provides a leading London programme with hands-on learning. The job of the reinsurance underwriter is to select risks and determine the adequate terms, conditions, and price for the risks we assume from the insurance companies. Our actuaries analyse trends and numerical data to help us price risks and our claims experts investigate and settle claims.
What can you expect?
The Internship Program at Everest Re provides a learning experience that develops professional skills and serves as a foundation for students to explore career choices in Underwriting, Actuarial, Claims or Finance. Working alongside some of the most talented members of the reinsurance industry, our interns gain relevant experience in various aspects of the field.
During your Summer Internship with us, you will learn what reinsurers and underwriters actually do. Afterwards, you will not only have gained your first practical work experience, but also have a clearer idea of your own professional future. Seize your chance - and shape your future with our short Summer Internship. Examples of the practical work activities are:
- Assisting underwriters during the underwriting process, production of management information, business development, and marketing
- Entry of risk information and the production and maintenance of underwriting files
- Monitoring and maintaining accurate and up to date risk data on the underwriting systems
- Maintaining and developing key relationships including brokers and external clients
- Assistance with profitability analyses
- Produce ad hoc reports and analysis
- Helping adjust reinsurance claims from a diverse multi-class portfolio
- Attending meetings and presentations on high value and complex losses
- Participating in client visits and audits, developing investigatory skills, and building relationships
About the programme
- The paid intern programme (10 weeks) is offered between 3rd June and 9th August 2024, with a rotation to a different department after 5 weeks.
- Challenging and rewarding programme where you will be working on real projects and gaining exposure to industry experts within the organisation.
- A great mix of learning and hands on experience within the team you will be working in.
- Provides penultimate year university students with a strong foundation to their career.
- Successful interns will be offered a place on the 2025 Graduate Programme.
Roles will vary depended on business area but the typical areas we recruit into are:
- Underwriting - within Underwriting you may be working within a Reinsurance Underwriting team to understand all the risks associated with a particular sector and then working with the team to finalize a deal.
- Actuarial - you will work with our Actuaries to gain an understanding of analysis and valuation of risks. You’ll then be able to advise on the best course of action for client risk management and work with the underwriting teams to make this happen.
- Claims – you will have the opportunity to be on the front-end, supporting our clients and see first-hand how claims are paid.
We will rely on you to have
- Strong business acumen and problem-solving skills.
- A basic level of understanding around the reinsurance industry and a desire to learn more.
- Flexible with an open mind.
- Excellent verbal and written communication skills.
- Ability to work in teams and cultivate strong business relationships.
- Adaptability and learning agility.
- Team player with ability to collaborate effectively.
- A self-starter with the ability to work independently and deal effectively with multiple tasks/priorities in a fast-paced environment.
- Results-oriented
What you need to have
Qualifications (required)
- Must be in your penultimate year of study. Students must be enrolled in an accredited university.
- Be expected to achieve a minimum 2.1 degree classification or equivalent in any degree discipline as we’ll match you to a role that best uses your skill set and personality.
- At least GCSE Grade A (or equivalent) in English and Maths. Ideally having studied Maths at AS/A Level. If you would like to take the Actuarial exams, you must meet the minimum requirements set by the IFoA (Institute and Faculty of Actuaries).
- Right to work in the UK
- Excellent IT skills including Excel.
What you will be rewarded with
- Joining a Company with a strong brand and strong results to match
- Joining an exciting industry, where keeping abreast of global developments is critical to success
- Joining a company where your career development is important to us.
- Competitive salary and benefits
- Volunteer opportunities
DEADLINE 14th January 2024
Our Culture
At Everest, our purpose is to provide the world with protection. We help clients and businesses thrive, fuel global economies, and create sustainable value for our colleagues, shareholders and the communities that we serve. We also pride ourselves on having a unique and inclusive culture which is driven by a unified set of values and behaviors. Click
here
to learn more about our culture.
Our Values are the guiding principles that inform our decisions, actions and behaviors. They are an expression of our culture and an integral part of how we work: Talent. Thoughtful assumption of risk. Execution. Efficiency. Humility. Leadership. Collaboration. Diversity, Equity and Inclusion.- Our Colleague Behaviors define how we operate and interact with each other no matter our location, level or function: Respect everyone. Pursue better. Lead by example. Own our outcomes. Win together.
All colleagues are held accountable to upholding and supporting our values and behaviors across the company. This includes day to day interactions with fellow colleagues, and the global communities we serve.
Type:
Intern Time Type:
Full time Primary Location:
London Additional Locations:
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