Summer Intern - Pricing and Business Development

Job Purpose

The Actuarial Intern position within the Pricing Department of Cigna is designed to provide an opportunity for aspiring actuarial professionals to gain hands-on experience in the application of actuarial principles and methodologies within the context of health insurance. This role will involve supporting the team in data analysis, actuarial research, and contributing to the development and implementation of effective pricing strategies. The intern will have the chance to learn from experienced professionals and actively participate in real-world projects, thereby gaining valuable insight into the insurance industry and the role of actuaries in ensuring the financial stability of health insurance products.

Critical Tasks and Expected Contributions / Results:

• Assist in the collection, validation, and analysis of data relevant to the pricing of health insurance products, including claims experience, demographic information, and market trends.

• Conduct research on actuarial methodologies, best practices, and regulatory requirements specific to health insurance in the Hong Kong market, and contribute findings to the pricing process.

• Support the development and implementation of actuarial pricing models, including data modeling, assumption setting, and scenario testing under the guidance of senior team members.

• Participate in monitoring and evaluating the performance of existing pricing strategies, identifying areas for improvement, and providing input into potential pricing adjustments.

•  Collaborate with team members on various projects, contributing to the achievement of departmental goals and the successful execution of pricing initiatives, including product development and market positioning strategies.

Experience / Knowledge, Education and Other Requirements:

• Currently pursuing or a holder of a degree in Actuarial Science, Mathematics, Statistics, or a related field, with a strong academic record and a keen interest in the application of quantitative methods in insurance.

• Strong analytical skills, attention to detail, and proficiency in Microsoft Excel and other data analysis tools. Knowledge of Python will be an advantage.

• Demonstrated knowledge of actuarial principles, statistical methods, and an understanding of the key concepts underlying insurance pricing, such as risk assessment and reserving is a plus.

• Excellent communication skills, both verbal and written, and the ability to work effectively as part of a team in a collaborative and fast-paced environment.

• Previous coursework or internship experience in actuarial science, insurance, or related fields is desirable and will be considered an advantage.

About The Cigna Group