Insurance Operations Intern

Overall Job Description: This position will provide the opportunity to work on a variety of critical business assignments, test acquired skills, use academic knowledge and match interests to a real job during a cross functional rotation in key areas of the organization.  This unique opportunity will provide valuable experience and a complete understanding of our business operations.

Functional areas of focus:

Underwriting and Rating 

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  The rating and policy issuance process.


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  Farmers of Salem underwriting philosophy, insurance products and strategies.


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  Underwriting rules, manual guidelines, insurance laws and regulations


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  Identifying critical issues and problem areas the team needs to address

Product Development/Management 

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  Product development and enhancement


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  MSO programs


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  State filing processes and regulations


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  Testing processes

Claims

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  Information gathering in relation to initial claim reporting


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  Conducting thorough investigations and evaluating losses


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  Determining coverage based on specific claim, and thorough policy analysis


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  Making decisions about liability and compensability


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  Negotiation strategies  in relation to the resolution of a claim


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  Overview of Unfair Claims Settlement Practices Act, Bad Faith Laws, DOBI claims climate


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  Farmers of Salem Claims Handling Philosophy


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  To include at least 1 day on the road inspecting either property or liability claims with independent adjuster

Finance 

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  Insurance finance processes including revenue, expense, financial models, budgets and reinsurance.


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  Direct Bill process

Information Systems

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  Technology that supports our Agents, Insureds and Staff.


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  Industry technology and its applicability to our current processes.

Marketing 

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  Development and enhancement of marketing products, procedures and services.


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  Agent selection, onboarding and relationship development


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  Changing market conditions and competitor activity


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  Business Plan evaluation and enhancement

Agency Operations

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  Overview of agency operations and best practices


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  Understanding of products and services employed to increase agent business and retention

Performance Expectations:

• Learn essential functions of all departments and gain an understanding of Property & Casualty insurance carrier operations

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  Assist insurance professionals with day-to-day assignments


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  Utilize analytical and problem solving skills

• Accept and complete project work assignments


• Participate in departmental meetings and activities

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  Maintain a professional attitude including oral, written communication and appearance with all customers (Agency, insureds and company personnel)

• Perform other related duties as required or assigned


• Keep confidential all information obtained during course of employment

 Qualifications:

• Strong interest in a career in Property & Casualty Insurance


• Strong communication, analytical and problem solving skills


• Outstanding interpersonal skills


• Self motivated


• Strong customer service orientation


• Planning, organizing and time management skills


• Basic to intermediate level Excel, Word, Power Point skills


• Ability to work at a computer for an extended period of time


• Ability to lift and move objects weighing up to 20 pounds

Education or Equivalent Experience:

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  Current college student entering Junior or Senior academic year


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  GPA of 3.0 or above


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  Risk Management, Insurance and other business majors preferred