As Analyst Intern you will gain exposure to the foundational business functions within ICAT’s Property Underwriting group. You will acquire first-hand experience in the inner workings of a Lloyd’s Syndicate and its Managing General Agency (MGA) and gain specific understating on how catastrophic modeling influences and supports business planning, capital setting, underwriting and risk management processes.
To perform this job successfully, an individual must be able to perform each essential responsibility satisfactorily.
Gather and analyze ICAT data, market data, and competitor activity.
Provide regular and ad hoc analysis and reports. Present results to internal associates. Prepare rate, rule and coverage comparisons.
Work with output from catastrophe models to quantify expected program performance.
Understand general catastrophe modeling techniques and peril-specific modeling methodologies including specific inputs, outputs and processing components for models used by ICAT.
Develop of understanding of ICAT’s proprietary Wind Cat Model – how it works with Risk Management Solutions (RMS), how it relates to ICAT’s historical storm performance, how it considers storm surge coverage leakage, and addresses storm rates.
Develop an understanding of how general risk management practices are integrated into specific account UW practices.
Develop a working understanding of the operational aspects of UW.
Assist underwrites with renewal summaries renewal quoting, inspection reviews and new business quoting.
Maintain knowledge of and support ICAT’s company values and strategic plan.
Sit or stand and work at a computer keyboard for extended periods of time.
Stoop, kneel, bend at the waist and reach.
Work is generally scheduled Monday through Friday with some evening, weekend and holiday hours.
Preferred Job Qualifications
In process of Bachelor’s degree in Risk Management & Insurance or related field and has demonstrated strong academic performance.
Ability to work in a very fast-paced environment with multiple, often times competing, priorities.
Strong verbal and written communication skills.
Demonstrates initiative and strong work ethic, is resourceful and self-motivated.
ICAT provides property insurance protection to homeowners and businesses located in hurricane- and earthquake-exposed regions of the United States.
Small commercial and residential accounts are underwritten and bound using an online platform that provides instant quotes 24 hours a day, 7 days a week. Middle market accounts are underwritten and quoted by ICAT’s experienced team of Property Underwr...iters. We take great pride in the service, products and stability we deliver to our agents and brokers.
ICAT is built around five core underwriting fundamentals:
1.Risk selection and pricing
3.Aggregate (exposure) management