Welcome to the Actuarial Internship Summer 2019 guide? This article will teach you how to land a Summer 2019 internship in actuarial science so you don’t have to stress over full time.
Finding Companies to Apply For
There are two types of firms hiring actuarial students for internships: consulting firms and insurance companies.
Actuarial consulting firms provide consulting services for clients. This means they are external actuaries who provide risk related services. This many include acting as the appointed actuary, giving an opinion on the reserves, or giving advice on a project. Their clients include insurance companies, manufacturers, banks, and more. They typically hire actuarial interns in September to February for the following summer.
Insurance Companies provide insurance to commercial and consumer clients. They hire actuaries to perform actuarial valuation and actuarial pricing for their insurance products. Insurance companies typically hire actuarial interns in November to February for the following summer.
What’s the difference between actuarial consulting and insurance?
List of Actuarial Consulting Firms
The Interview Stage
You’ve landed the interview, and an actuarial internship is within your grasp! What can you do to maximize your chances of passing the actuarial interview?
Interviews for interns typically consist of the following format:
-Initial phone screen round. This may be done by HR or a junior person on the team.
-Onsite interviews. The company brings you in and you meet with the team. Typically you meet between 3-6 people, meaning 1.5 to 3 hours of interviews.
Congratulations! You’ve received an offer for an actuarial internship. What do you do now? Well, if you have multiple offers, you decide which one to take. This is the easy part… after this, you kick back and relax because you’re well on your way to becoming an actuary.