What are the responsibilities and job description for the Life Actuary Intern - Summer 2027 position at Indiana Farm Bureau Insurance?
What You'll Gain Experience In
As a Life Actuary Intern, you may:
- Gain knowledge of life insurance products, including term life, whole life, interest-sensitive life insurance, fixed annuities, and payout annuities.
- Work with actuarial modeling software to update assumptions, run scenarios, and validate model results.
- Compile and analyze data for mortality, lapse, and new business distribution experience studies.
- Develop controls and trend analyses to support pricing, valuation, and financial planning activities.
- Support the company's reinsurance strategy by monitoring results, researching treaties, and compiling key data.
- Prepare reports, charts, graphs, and presentations that communicate analytical findings and recommendations.
- Document methodologies, assumptions, and results to support actuarial processes and reporting.
- Develop an understanding of actuarial methodologies and their application within the insurance industry.
- Collaborate with team members and effectively communicate information, suggestions, and recommendations.
Qualifications
Preferred Education
Pursuing a bachelor's or master's degree in:
- Actuarial Science, Mathematics, Statistics, Data Science, Finance, or a related quantitative field
Preferred Skills
- Experience using Microsoft Excel.
- Strong written and verbal communication skills.
- Successful completion of at least one Society of Actuaries (SOA) exam preferred.
- Demonstrated analytical and problem-solving abilities.
- Ability to conduct research and maintain detailed documentation.
Desired Characteristics
Successful candidates will demonstrate:
- Curiosity and a desire to learn.
- Willingness to take on new challenges.
- Strong attention to detail and analytical thinking.
- Professionalism and strong business acumen.
- The ability to apply actuarial and business concepts learned in the classroom to real-world opportunities.
- A collaborative mindset and effective communication skills.
Join our team and gain hands-on actuarial experience while working alongside industry professionals who will help you develop the technical, analytical, and business skills needed for a successful actuarial career.
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