The UGA RMI Intern Program provides students the opportunity to work in corporate environments with insurance agents, brokers and consultants.
J. Smith Lanier
Atlanta, GA
Summer 2007
J. Smith Lanier & Company is one of the nation's leading insurance brokerage agencies. I worked in various departments within the company doing a wide variety of things, which gave me exposure to many aspects of the insurance industry. Specifically, I worked in claims, marketing, surety, property and casualty, employee benefits, and in a sales center. The major activities that I participated in, and the projects that I working on, depended on what department I was working with.
When working with claims I compiled claims summaries on a normal basis and also constructed a database of third party administrators. In the marketing department I learned how to find markets for various lines of insurance. In the surety office I updated files and learned the basics of surety bonds. In property and casualty I worked on maintaining accounts and learned about how producers make the sale. In employee benefits I made benefit summaries for various accounts and I also learned how to build an employee benefits website for a client. In the sales center I learned the art of "cold calling" and how to get leads for new business.
Throughout the internship I had the opportunity to sit in on meetings and listen to conference calls, which showed me the reality of how business deals are made and how problems are solved in a professional manner. My time at J. Smith Lanier taught me a great deal, and I highly recommend it to anyone who is interested in gaining a more broad view of the possibilities in insurance.
Zurich Insurance Services
Jacksonville, FL
Summer 2007
This summer I was able to rotate between three departments, Sales and Marketing, Underwriting, and Insurance Link. My first rotation was in Sales and Marketing. The marketing managers are responsible for going out into the field and speaking at conferences and visiting independent agents in order to get the message out about Zurich's Builders Risk. They are also responsible for doing research to see how competitive Zurich is in the market. They call on agents who are not writing as much premium with us in order to see what Zurich needs to do in order for them to increase their volume of premium.
After my stay in marketing, I moved over to Builders Risk Underwriting. I learned how to rate, quote, and issue policies. I received exposure to small commercial and residential policies, large commercial, and the Contractors Equipment Product. I had the opportunity to model wind, earthquake, and flood in order to insure that we were offering an appropriate, but competitive, rate.
My last rotation was in Insurance Link. This division is responsible for doing outside sales, through they do not leave the office. Leads are usually generated through advertisement, direct mailings, and through other providers, such as Sam's Club. They receive incoming calls from customers who would like to use Zurich's products. They work these customers up a policy or package of policies that is right for them.
IRU Summer Internship Program
New York, NY & Greenwich, CT
Summer 2007
This summer I had the opportunity to participate in an amazing internship program sponsored by the Intermediaries and Reinsurance Underwriters Association, or IRU. This program is unique because I had the opportunity to work for one month with two different companies: Axis Reinsurance Company of the US located in New York, NY; and Partner Reinsurance Company of the US, located in Greenwich, CT.
At each company, my position could best be described as an Underwriting Assistant. That means that, among other things, I attended weekly underwriting meetings, accompanied underwriters to lunch-meetings with reinsurance brokers, and worked extensively with Microsoft Excel. In addition to these primary duties, I was also assigned projects at each host company.
While at Axis Re, I worked with a team of several other underwriters on a large claims project to determine if certain claims had unreasonable reporting delays that could affect pricing decisions. While at PartnerRe, I was assigned a research project to determine the implications of the possible expiration of the Terrorism Risk Insurance Extension Act of 2005, and present them in a PowerPoint presentation to all PartnerRe underwriters.
Marsh USA
Atlanta, GA
Summer 2007
As a summer risk analyst in the property department of the Atlanta office, I participated in Marsh's extensive training program. The best thing about my experience was the hands-on training. During the first week, I learned how a brokerage works and the internal processes in place to assist clients.
Several of the client advisors in the property department put me on their accounts to perform various tasks. I worked on several spec packages, which are the requests for coverage sent to insurers. After receiving quotes back from insurers, I completed several coverage comparisons and nonconcurrency charts. For these, I created spreadsheets showing differences between quotes and gaps in coverage for the insurer to see before choosing their insurance program.
Throughout the summer, Marsh required that interns have meetings with senior managers in our office as well as national leaders. Also, I met with several underwriters and sat through many client meetings, which gave a real life look into the relationships brokers build throughout their careers.
SunTrust Banks, Inc.
Atlanta, GA
Summer 2007
This summer I had the opportunity to intern with the Insurance Risk Management department at SunTrust. I was able to observe job functions of all department members, participate in meetings with brokers, and attend educational and industry events. I was responsible for managing various projects within the department, including an intranet redesign project for the departmental site. Working on this project allowed me to research SunTrust's current insurance policies and claims procedures, as well as to add value to the organization by improving a site that acts as a resource to all SunTrust employees.
I was also involved in projects regarding the creation of a captive insurer, Twin Rivers. I researched state regulation regarding security deposit requirements for licensed property and casualty insurers. Observing numerous meetings regarding Twin Rivers allowed me to expand my knowledge of the structure, regulation, and potential benefit of operation a captive insurance company. Another project that I contributed to was the creation of an insurance reference guide that can easily be distributed to clients as well as individuals within the SunTrust organization.
Interning with SunTrust offered me the opportunity to apply educational concepts in the workplace. I not only learned about risk management, but also about the corporate environment and most notably the importance of establishing strong relationships with colleagues and others in the industry.
SAS
Raleigh, NC
Summer 2007
During my internship with SAS I had the opportunity to be involved in many different projects and activities. The two departments I worked with closely aside from Risk and Insurance Management were the Ergonomics and Safety departments. A special project in the Ergonomics department involved transferring information into a new database system established for the department. The new system was very innovative and I had the opportunity to assist in discovery and elimination of problems with the system.
Another great project was the opportunity to assist the Risk and Insurance Management department with assessing the company's cost of risk. For the project I was give a great deal of flexibility and creative leeway for how to manage the information we were receiving.
Because of this flexibility, I was able to create a spreadsheet that now allows them to better analyze their insurance related cost of risk, and they have the ability to continue to use the system even now that I am no longer with them. Along with the opportunities already mentioned, I had the chance to meet some great people, all with a great deal of experience in their particular line of business.
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