
If you're looking to break into the actuarial science field, an internship with a reputable insurance company can be a fantastic way to gain hands-on experience. Liberty Mutual offers a comprehensive internship program that provides students with a stipend, mentorship, and opportunities to work on real-world projects.
AIG's internship program allows students to work on complex actuarial projects and collaborate with experienced professionals. The program also includes training sessions and networking opportunities to help students build their professional network.
Prudential's internship program is designed to provide students with a well-rounded understanding of the actuarial science field. The program includes coursework, mentorship, and hands-on experience working with actuaries and other professionals.
The internship programs at these top insurance companies can provide valuable experience and help you build a strong foundation in actuarial science.
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Internship Opportunities
Many insurance companies offer actuarial science internship programs that can give you hands-on experience and a foot in the door. These programs usually last 12 weeks and provide exposure to various areas of the company.
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Some notable companies that offer actuarial internships include Mutual of Omaha, AEGON, and New York Life. You can also check out the list of companies that offer actuarial internships on the Society of Actuaries (SOA) website.
As an actuarial intern, you can expect to participate in rotations, work on projects, and receive mentoring and support. Some companies, like Mutual of Omaha, offer a capstone project where you'll present your findings at the end of the internship. This can be a great way to gain experience and build your professional network.
Here are some companies that offer actuarial internships:
- Mutual of Omaha
- AEGON
- New York Life
- Blue Cross/Blue Shield of Illinois
- GEICO
- Nationwide
Undergrad Internships & Full-Time Opportunities
If you're looking for undergraduate internships and full-time opportunities, there are several options to consider. Actuarial internships are available through companies such as AEGON, Allstate, and American Family Insurance, often posted in early September or fall.
As an actuary, you'll have the opportunity to work on complex problems and gain exposure to areas like modeling, pricing, reserving, and analytics. You'll also receive support as you prepare for your actuarial exams.
The Finance & Accounting team at some companies, like Nationwide, offers internships and full-time opportunities, providing professional and leadership development, as well as training in financial reporting, accounting controls and policy, planning and analytics, treasury, taxation, and internal audit.
Risk Control consultants play a vital part in protecting people, businesses, and property, and can be found at companies like GEICO, which offers a mix of online, classroom, and hands-on training with experienced consultants and mentors.
If you're interested in tech, companies like The Principal Financial Group offer diverse experiences, varied technical training, an agile approach, and exposure to senior leadership.
Here are some companies that offer internships in the actuarial field:
- AEGON (Cedar Rapids, IA)
- Allstate (Northbrook, IL)
- American Family Insurance (Madison, WI)
- Blue Cross/Blue Shield of Illinois (Chicago, IL)
- Christopher Gross Consulting (Minneapolis, MN)
- CIGNA (Hartford, CT and Philadelphia, PA)
- Continental Western Group (Multiple locations)
- Country Financial (Bloomington, IL)
- Delta Dental of Iowa (Ankeny, IA)
- EMC Insurance Company (Des Moines, IA)
- Equitrust Insurance Company (West Des Moines, IA)
- Farm Bureau Financial Services (FBFS) (West Des Moines, IA)
- Farmers Insurance Group (Des Moines, IA and Los Angeles, CA)
- GEICO (Multiple locations)
- Great West Casualty Company (South Sioux City, NE)
- Grinnell Mutual Reinsurance Company (Grinnell, IA)
- Jackson National (Lansing, MI)
- Liberty Mutual (Boston, MA)
- Mutual of Omaha (Omaha, NE)
- Nationwide (Des Monies, IA and others)
- New York Life (New York City, NY)
- Physicians Mutual (Omaha, NE)
- The Principal Financial Group (Des Moines, IA)
- Progressive (Multiple locations)
- Prudential (Multiple locations)
- State Farm (Bloomington, IL)
- Travelers (Multiple locations)
- Unum (Chattanooga, TN)
- Van Iwaarden Associates (Minneapolis, MN)
- Wellmark (Des Moines, IA)
- Westfield Insurance (Westfield Center, OH)
Internship Opportunities
If you're looking for an internship in the actuarial field, you're in luck - there are many opportunities available. Most internships are for students who will be entering their junior or senior year, so make sure you're eligible before applying.
Some companies that offer internships include AEGON, Allstate, American Family Insurance, Blue Cross/Blue Shield of Illinois, and CIGNA, among many others. You can find a list of these companies and their internship opportunities in the resources section of the Society of Actuaries (SOA) website.
You can also check out specific companies' websites for internship opportunities, such as Mutual of Omaha, Nationwide, New York Life, and State Farm. These companies usually post their internships in early fall or January, so be sure to check back regularly.
Some internships offer a mix of rotations and capstone projects, giving you a broad exposure to different areas of the company. For example, Mutual of Omaha's actuarial internship program includes two rotations and a capstone project, allowing you to get a feel for what it's like to be an actuary at the company.
Here is a list of some companies that offer internships in the actuarial field:
- AEGON (Cedar Rapids, IA)
- Allstate (Northbrook, IL)
- American Family Insurance (Madison, WI)
- Blue Cross/Blue Shield of Illinois (Chicago, IL)
- CIGNA (Hartford, CT and Philadelphia, PA)
- Continental Western Group (Multiple locations)
- Country Financial (Bloomington, IL)
- Delta Dental of Iowa (Ankeny, IA)
- EMC Insurance Company (Des Moines, IA)
- Equitrust Insurance Company (West Des Moines, IA)
- Farm Bureau Financial Services (FBFS) (West Des Moines, IA)
- Farmers Insurance Group (Des Moines, IA and Los Angeles, CA)
- GEICO (Multiple locations)
- Great West Casualty Company (South Sioux City, NE)
- Grinnell Mutual Reinsurance Company (Grinnell, IA)
- Jackson National (Lansing, MI)
- Liberty Mutual (Boston, MA)
- Mutual of Omaha (Omaha, NE)
- Nationwide (Des Moines, IA and others)
- New York Life (New York City, NY)
- Physicians Mutual (Omaha, NE)
- The Principal Financial Group (Des Moines, IA)
- Progressive (Multiple locations)
- Prudential (Multiple locations)
- State Farm (Bloomington, IL)
- Travelers (Multiple locations)
- Unum (Chattanooga, TN)
- Van Iwaarden Associates (Minneapolis, MN)
- Wellmark (Des Moines, IA)
- Westfield Insurance (Westfield Center, OH)
Program Details
The internship program is a 12-week summer internship that provides hands-on experience in actuarial work, including product development and pricing. You'll gain exposure to a wide range of insurance products and apply actuarial and mathematical concepts to various business products.
You'll receive continuous mentoring and support, plus opportunities to network with senior management. This can be a great stepping stone to a career in actuarial science.
Here are some key details about the internship program:
- Duration: 12 weeks
- Opportunities: Gain exposure to product development and insurance pricing, apply actuarial and mathematical concepts, receive mentoring and support
- Career path: May have the opportunity for direct admission into the actuarial student program after graduation
The actuarial student program is designed for postgraduates pursuing their ASA or FSA designation from the Society of Actuaries. This program offers a supportive community and structured opportunities for skill development and networking.
You'll enjoy up to 150 paid study hours per exam, paid registration fees and exam materials, and best-in-class pay raises with exam performance. This program is a great way to jump-start your actuarial career.
Program rotations are available every 24 months, giving each trainee a broad insurance and investments background through exposure to various aspects of actuarial work.
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Career Development
Mutual of Omaha invests in its employees' professional growth with exam support and education opportunities that span actuarial science, diversity, equity and inclusion, and leadership skills.
Laura Huscroft, a VP and Actuary at Mutual of Omaha, has been given countless opportunities that she may not have been 'ready' for on paper, but the company believed in her experience, leadership, skills, and ability.
Mutual of Omaha regularly entrusts employees with new challenges, allowing them to grow and develop in their careers.
This approach has helped Laura Huscroft grow every day, as she has stated in an interview.
Mutual of Omaha's commitment to employee growth and development is a key factor in its success as an insurance company with an actuarial science internship program.
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Frequently Asked Questions
Do actuary interns get paid?
Yes, actuary interns are paid for their work. The average hourly pay for an actuary internship in California is $23.96 as of December 2024.
Are actuarial internships competitive?
Yes, actuarial internships are highly competitive, particularly those offered by well-known companies. This means you'll need to stand out with a strong application and skills to secure a spot.
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