FM Underwriting Intern

4 days ago

Cleveland, Ohio, United States Factory Mutual Insurance Company Full time
Overview

Factory Mutual Insurance Company is a leading provider of property insurance solutions for the world's largest businesses. Our company helps clients maintain continuity in their operations by leveraging state-of-the-art loss-prevention engineering and research, risk management skills, and support services. We rely on a dynamic and culturally diverse team of employees working in over 100 countries in various challenging roles.

Responsibilities

This 12-week program will focus on the day-to-day business operations of our three core business functions: underwriting, engineering, and claims. As an underwriting intern, you will develop basic underwriting and engineering skills needed for risk identification and assessment. You will work closely with account managers and production underwriters to handle underwriting details, gain knowledge of underwriting guidelines, and learn loss prevention and control concepts.

Key Responsibilities:
  • Assist account managers and production underwriters in handling underwriting details, including rating and pricing, analysis of coverages, terms and conditions, value analysis, and certificates of insurance.
  • Gain and maintain a good knowledge of underwriting guidelines, policy terms and conditions, profitability analysis, and pricing to assist the account manager in program analysis and design.
  • Gain an understanding of Factory Mutual and FM Affiliate's capabilities and processes.
  • Learn loss prevention and control concepts, including how to read and utilize information from risk reports and utilize knowledge to assist the account manager in exposure identification and analysis.
Qualifications

To be successful in this role, you will need:

  • A strong academic record (3.0 GPA or above).
  • Outstanding analytical, problem-solving, negotiation, and computer skills.
  • Ability to work with financial data.
  • Excellent presentation and interpersonal skills.
  • Attention to detail is required.
What We Offer

The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in Factory Mutual's comprehensive Total Rewards program, which includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work time off allowances, and much more.

Factory Mutual is an Equal Opportunity Employer committed to attracting, developing, and retaining a diverse workforce.

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