The Missouri Association of Mutual Insurance Companies internship program is a part-time 10 week program that will give students exposure to multiple areas of the mutual insurance world. As an Insurance Intern, the student will focus on 4 major areas of the industry – Claims, Underwriting, Customer Relations, Marketing. This is a paid internship and you may qualify for school credit (check with your specific school on credit details).
This internship will be with MAMIC mutual member Missouri Farm & Home Mutual Insurance Company located in Richmond, MO.
This is a part-time 10-week program requiring 20 to 25 hours per week. Start date will be a mutually agreed upon date during the Spring 2021 semester.
$10 - $12 per hour depending on experience.
· High School Diploma is required
· Ideal candidate will have completed 2 semesters of college course work. Some insurance, risk management or finance courses preferred but not required.
· Strong written and verbal communication skills
· Self-motivated & goal oriented
· Team-oriented individual with positive attitude
· Proficient with computers, technology, & ability to solve problems and implement solutions proactively
Duties and Responsibilities:
· Gain understanding of the claims process through meeting with claims personnel, reviewing selected claims files, and participating in meetings to determine tasks to be completed for claim investigations
· Work as an apprentice with a senior claims staff member performing assigned tasks
The Underwriting Rotation:
· Work closely with underwriting, actuarial, claims, and finance departments to understand risk factors, rating process, and resulting loss experience in a particular program.
· Identify key unknowns in the underwriting process to determine which factors drive the volatility in the program’s loss experience.
· Identify which unknown criteria within the underwriting process could potentially be solved or resolved with technical solutions.
· Review applications to determine if they meet underwriting guidelines, determine adequate insurance to value and review for proper rating.
· Assist with other critical business initiatives within the underwriting department
The Customer Relations:
· Work with Underwriting Assistants to compute and rate premium for new, renewal and/or endorsement business using carrier systems
· Interact directly with underwriters and account managers to assist in underwriting analysis and documentation
· Work with Quality Specialists to coordinate and execute process validation and quality documentation. Assist with documentation of policies and procedures and conduct data analysis and generation of performance reports.
· Work with billing and collections to understand the collections process, assist with resolving discrepancies and analyzing reports to ensure collections activities are optimizing cash flow.
The Marketing Rotation:
· Create and maintain a social media platform for the company
· Produce promotional materials as needed
· Recommend and navigate digital media outlets
· Recap of what was accomplished during the 10 weeks and a pitch to leadership on which department you feel you are the best fit for and why.
· Use business analysis and problem-solving skills to identify a potential “opportunity” within the insurance mutual. Develop a presentation with suggestions the company could use to expand or implement the “opportunity”.