The Actuarial Department analyzes data using mathematical, statistical, historical, and financial modeling to enhance the accuracy of North Star’s rating plans. They also provide estimates of Incurred But Not Reported (IBNR) losses for use in the annual and quarterly statutory accounting reports along with catastrophe events. The Actuarial department takes the lead on the required filing of the Own Risk and Solvency Assessment (ORSA) with the state insurance department. They also assist with refining North Star’s Enterprise Risk Management (ERM) findings and practices to be incorporated in this statutory report.
North Star Mutual Insurance Company is looking for applicants for our summer 2025 Actuarial internship. Students will have the opportunity to assist with development of pricing models and systems to evaluate rate formulae and rating structures, analyze company loss experience and trends, and calculate/test rate change impacts. Assisting with the development and utilization of databases and spreadsheets for actuarial analysis (to include SQL, R, and the company’s BI datasets), and the preparation of business reserve analyses, documents, dashboards, and risk analyses are key functions of this hands on and informative internship experience. Other duties and/or projects may be assigned. Some crossover exposure to the Research and Development department can also be expected.
Individuals who are top notch communicators with strong analytical and creative problem-solving skills, a high level of intellectual curiosity, and the ability to learn a variety of computer programs are encouraged to apply. Interns may be exposed to confidential Company information and must be able to maintain that throughout and following their experience at North Star.
The pursuit of a Bachelor’s degree in actuarial science, mathematics, statistics, data science and/or a related field as well as having passed at least one Actuarial exam is preferred for the internship.
Compensation: $20.00 per hour.
Deadline: Monday, February 24, 2025 at 12PM CST.
* All interested individuals must submit a completed Internship Application found on our website, www.northstarmutual.com/internships.
