As an insurance intern, you will have the opportunity to work in a variety of different areas within the insurance industry, depending on the organization you are interning for. However, there are several common duties and responsibilities that most insurance interns can expect to perform. In this article, we'll outline some of the most common duties and responsibilities of an insurance intern.
1. Assist with policy administration: One of the most important duties of an insurance intern is to assist with policy administration tasks, such as reviewing policy applications, updating policy information, and processing claims.
2. Conduct research: Insurance interns may be responsible for conducting research on various topics related to insurance, such as analyzing market trends, studying insurance laws and regulations, and researching new products and services.
3. Assist with underwriting: Depending on the organization you are interning for, you may be responsible for assisting with underwriting tasks. This could include tasks such as reviewing applications, assessing risk factors, and determining premium rates.
4. Assist with claims management: Insurance interns may also be involved in assisting with claims management tasks, such as investigating claims, evaluating claims for validity, and negotiating settlements with claimants.
5. Assist with marketing and sales: Depending on the organization you are interning for, you may be involved in assisting with marketing and sales tasks. This could include tasks such as developing marketing materials, conducting market research, and assisting with sales presentations.
6. Assist with compliance: Insurance interns may also be involved in assisting with compliance tasks, such as ensuring that the organization is in compliance with state and federal regulations, developing compliance policies and procedures, and conducting compliance audits.
7. Assist with customer service: Depending on the organization you are interning for, you may be involved in assisting with customer service tasks, such as answering customer inquiries, resolving customer complaints, and providing support to policyholders.
8. Assist with data analysis: Insurance interns may also be responsible for assisting with data analysis tasks, such as running reports, analyzing data trends, and identifying areas for improvement.
9. Assist with risk management: Depending on the organization you are interning for, you may be involved in assisting with risk management tasks, such as assessing risk factors, developing risk management strategies, and analyzing risk management policies.
10. Other tasks as assigned: As with any internship, insurance interns may be asked to perform a variety of other tasks as needed. This could include tasks such as running errands, assisting with office tasks, or assisting with other insurance-related projects.
In addition to these specific duties, insurance interns will also need to possess a range of skills and personal attributes, including:
1. Strong analytical skills: Insurance interns must be able to analyze data and make informed decisions based on that data.
2. Attention to detail: Working in insurance requires a high level of attention to detail, as even small mistakes can have significant consequences.
3. Strong communication skills: Insurance interns must be able to communicate effectively with a range of stakeholders, including policyholders, claims adjusters, and other insurance professionals.
4. Ethical behavior: Insurance interns must adhere to strict ethical standards and act with integrity at all times.
5. Flexibility: Working in insurance can be unpredictable, and insurance interns must be able to adapt to changing circumstances and take on new tasks as needed.
6. Time management skills: Insurance interns must be able to manage their time effectively in order to complete tasks efficiently and meet deadlines.
7. Teamwork: Working in insurance often requires collaboration with others, and insurance interns must be able to work effectively as part of a team.
8. Technological proficiency: Insurance involves the use of sophisticated technology and software, and insurance interns must be proficient in the use of these tools.
9. Mathematical proficiency: Insurance involves a lot of math and statistical analysis.
Let's face it student jobs are tough to get, you are competing against people that have work experience and are looking for a full time job. But you can find part time jobs for students. Ideally you want to find an internship because that will give you work experience in your chosen field. Jobs for students typically pay less than those of a full time employee, there are less benefits as well. But the benefit to you is immense. It's competitive, but don't distress, search student jobs and summer internships in insurance and get your career started on the right path!