Class Year: 2015
Major: Actuarial Science
Hometown: Canton, OH
Internship: Progressive Insurance
Location: Mayfield Village, OH
Internship Responsibilities: I had the opportunity to complete a 12-week paid internship at Progressive Insurance, a leading property & casualty insurance company, located 20 minutes from downtown Cleveland. My internship was in the Pricing department of Progressive's Special Lines business area. My department was responsible for maintaining adequate premium rates for all of Progressive's non-auto insurance products across the country. These products included motorcycles (Progressive is the nation's top insurer of motorcycles), boats, RVs, travel trailers, and snowmobiles.One of the major projects I completed during my internship was analyzing the rate adequacy of Progressive's snowmobile policies. Snowmobile is a small book of business that is often treated the same as motorcycle business. My final analysis showed that our overall rates for our snowmobile policies were likely higher than they needed to be. In the future, my department will look to lower our snowmobile rates in larger states in an attempt to undercut the rates of competitors.
What I Learned: I learned about the day-to-day work that is done in Special Lines Pricing and other departments that complete actuarially-justified work. Over the course of my internship, I connected with a variety of professionals and complete meaningful work. I was also very impressed with the unique culture at Progressive. Progressive has one of the world’s largest corporate art collections that decorate each campus. It creates an environment that fosters creativity and inclusion. I concluded my internship with a 10-minute presentation about my summer in front of several hiring managers during my final week. Two weeks after I left, I accepted a full-time position as an Actuarial Analyst that will begin after I graduate.