Consider joining NJM’s 2027 Paid Summer Intern Program!
This robust program includes:
- Lunch with leaders; featuring insights from an Executive Leadership Team member, and a former NJM intern. Opportunity to network with leaders and professionals across multiple departments.
- Contribute to and collaborate on meaningful work within your department.
- Team Intern Project: Research and present a business question to NJM leaders.
- NJM Seminars designed to build essential professional skills and expand knowledge of the insurance industry.
- Professional headshots to help enhance your personal brand.
- Intern Fun:
- Night at the Trenton Thunder Game
- Volunteer activities to give back to the community in which we serve
- Networking and social events with fellow interns, former interns, and leaders
Overview
NJM Insurance Group is looking for several dynamic, energetic interns who are eager to learn about our company by assisting various projects in the Actuarial department. As an Actuarial Intern, you will be assigned to one of the main teams in the department: Personal Auto Pricing, Property Pricing, Commercial Lines pricing, or Reserving.
Project assignments vary year to year but there are several common themes:
- Teaches basic knowledge of Actuarial techniques and provides meaningful applications of coding languages
- Involves data gathering/transformation and learning to extract insights out of data
- Provides a chance to work closely with other actuaries on a day-to-day basis and gain experience in a professional setting
- Offers an opportunity to communicate results to management
To be successful as an Intern, you should be willing to help with any tasks assigned by a supervisor. You will be involved in upcoming and current projects.
Examples of Prior Intern Projects
- Creating a tool that automated the analysis of quotes and bind information
- Completing a Countrywide reserve review for an entire Line of Business
- Developing an automation tool that iteratively analyze 100’s of rating variables
- Performing in-depth analysis of a pricing variable by utilizing a simulation tool to test rates against competitors
- Conducting a thorough competitor insights analysis for the launch of a new Line of Business
- Performing cluster analysis to define customer classes
- Completing full profitability and impact analysis of a potential new product
- Analyzing industry loss trends and developing proposals
Responsibilities
- Learn about the insurance industry and basic Actuarial techniques (such as extension of exposure on-leveling, loss development triangles, etc.) and applying them to solve real business problems
- Learn and heavily utilize Excel, SQL, SAS, and/or PowerBi in various projects
- Lead a pricing or reserving project, develop recommendations based on the analysis, and present findings to management and/or other departments
- Conduct research and provide ad-hoc assistance to on-going projects with other actuaries in the department
Requirements
- Commutable to our West Trenton, New Jersey office
- Current Sophomores and Juniors pursuing Math, Actuarial, Statistics, Quantitative Finance, or other quantitative field
- Must have 3.0 GPA or higher, overall
- Self-directed learner with the ability to learn quickly and pursue Internship with enthusiasm and focus Advance skills in MS Word, Outlook, and Excel
- Ability to work well on a team or individually
- Excellent interpersonal, written, and verbal communication skills
- Willingness and ability to learn Property & Casualty Insurance
The Actuarial Intern can pay from $21- $25 hour.
Starting Rate: $21Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.
Skills Required
- Current sophomore or junior pursuing Mathematics, Actuarial Science, Statistics, Quantitative Finance, or another quantitative field
- Minimum overall GPA of 3.0
- Able to commute to the West Trenton, New Jersey office
- Advanced skills in Microsoft Word, Outlook, and Excel
- Ability to learn quickly and work as a self-directed learner
- Ability to work effectively on a team or independently
- Excellent interpersonal, written, and verbal communication skills
- Willingness and ability to learn Property and Casualty Insurance
NJM Insurance Group Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about NJM Insurance Group and has not been reviewed or approved by NJM Insurance Group.
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Retirement Support — Retirement benefits include a 401(k) match with additional company contributions, materially boosting total compensation. This component is presented as a core element of the total rewards offering.
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Healthcare Strength — Health coverage offers multiple medical plan options plus dental and vision, complemented by company-paid basic life insurance and disability protection. Wellness resources and assistance programs further support overall health needs.
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Leave & Time Off Breadth — Time off includes a first-year PTO allotment paired with paid/floating holidays and state-based paid sick leave. Paid parental leave references and adoption assistance indicate breadth for various family situations.
NJM Insurance Group Insights
What We Do
NJM is among the Mid-Atlantic's leading property and casualty insurers. Founded in 1913, NJM's mission is to provide value-based insurance solutions to its policyholders with the highest levels of service, integrity, and financial stewardship. The Company operates in a mutual fashion for the exclusive benefit of its policyholders. Headquartered in West Trenton, NJ, with offices in Hammonton and Parsippany, NJM employs nearly 2,500 workers. - 2019-2023 Forbes Best In-state Employer (Ranked #11 out of 89 NJ employers in 2023) - 2018, 2019, 2020, 2021, certified by J.D. Power for providing "An Outstanding Auto Claims Experience" for personal lines customers* - 2018, 2019, & 2020 Clearsurance Customers’ Choice Top Ranked Insurance Companies - 2021 American Heart Association Gold Level Workplace Health Achievement - 2020 American Heart Association Silver Level Workplace Health Achievement - 2019 Forbes Best Mid-size Employers in the country *J.D. Power Auto Claims Certification Program℠ recognition is based on successful completion of an audit, exceeding a customer experience benchmark through a survey of recent claims servicing interactions, and a Financial Strength rating. For more information, visit jdpower.com.
