Underwriting Operations Intern - Broomfield - 2022
ICAT, a division of Victor Insurance Holdings was founded in 1998 and based in Broomfield, Colorado; ICAT is a leading provider of property insurance protection to homeowners and businesses located in hurricane- and earthquake-exposed regions of the United States. ICAT draws from highly specialized underwriting expertise and advanced technology tools to offer brokers and their client’s market-leading catastrophe coverage. Along with its subsidiary, Boulder Claims, ICAT’s inherent promise to policyholders is to assist people and businesses as they recover from disasters. ICAT programs currently protect over 85,000 homeowners and business owners in catastrophe-exposed regions of the US.
The Underwriting Operations Intern will learn ICAT’s disciplined catastrophe and all-other-peril pricing philosophies, underwriting risk assessment and decision-making, insurance market and competitor landscape, product details, and policy life-cycle. The intern will gain first-hand experience through an assigned summer project and presentation of the finding to the executive team. Examples include analysis of possible product expansion, operational use of building inspection data, competitive pricing analysis, and improved use of policy quote submissions.
Throughout the 10 weeks, interns will have an opportunity to collaborate with interns at other Victor subsidiaries. Victor ICAT Interns will participate in formal training, structured projects and social and volunteer events, which demonstrate our commitment to colleagues, clients and communities.
Upon completion of the summer internship, exceptional juniors may be extended an offer to join as a full-time colleague upon graduation.
Responsibilities may include (but are not limited too):
- Learning about insurance markets, commercial property insurance, catastrophe insurance products and forms overview (earthquake, wind, hurricane, flood, all other peril), policy lifecycle, risk modeling, systems, and overview of ICAT’s business units.
- Participating in instructor-led training; on-line courses, and shadowing ICAT employees.
- Attendance at account review meetings and other meetings relevant to individual projects will further enhance learning opportunities.
- Project work will focus on business processes such as inspections, losses, and the cost of doing business. Interns will work with the project sponsor to determine scope, resources, and develop timelines for milestones.
- Deliver a final presentation on the project, findings, and recommendations at the conclusion of the internship.
- Underwriting tasks and assignments will be tailored to intern’s project and career interests, schedule permitting.
APPLICATION REQUIREMENTS
- Current Juniors with an expected graduation date of December 2022 or May/June 2023
- Overall cumulative GPA of 3.0 or above at the time of application and start date
- Risk management, finance, business, accounting (and IT – for IT JD) majors preferred, but all majors accepted
- Applicants must have legal work authorization in the U.S. on a permanent and ongoing basis without the need for sponsorship now or in the future.
DIVERSITY MATTERS AT ICAT
At ICAT, we believe that diversity and inclusion are vital components of our future and our goal is to leverage the unique skillsets that each person brings to the company. We provide our colleagues with a supportive, collaborative environment that leads to innovative ideas and the ability to make an impact.
WHAT’S NEXT?
We will review application submissions. You will be contacted only if you are selected for a first round interview. The first round interview will consist of a recorded video interview through the online Hirevue platform. Note, this position is a 10 week internship that will offer a competitive hourly rate between $20-25/hr.
MARSH
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US $17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.