Corporate Risk & Insurance Intern

This position is a 12-week paid internship located in Bloomington, Spencer, or Ellettsville Indiana. It is offered for a period extending from mid-May through mid-August 2023 (exact dates depend on school calendars).

All internships provide hands-on experience with meaningful projects in the Medical Device Manufacturing Industry. Every possible effort will be made to promote a fair and nurturing environment in which students will be encouraged to learn more about their surroundings and given means by which they can obtain information useful to their course of study or professional development.

Goals of the internship will be to:

• Create a more comprehensive understanding of Cook Inc., the medical device industry, and life sciences initiatives in Indiana;
• Allow area mentors and hiring managers the opportunity to train and evaluate high-potential students for future employment;
• Develop practical professional experiences in the intern’s field of study;
• Establish a better awareness of corporate culture and business.

Benefits

This position includes 401(k) and Profit Sharing program, an assigned mentor, capstone presentation, and intern events. When working onsite, you will have access to a fitness center, an onsite cafeteria, and a one-time housing stipend.

Interns may qualify to be reimbursed for their travel expenses getting to/from the internship. You can receive mileage reimbursement to/from your school location to Bloomington, Ind. one time at the start of the internship and one time at the end of the internship.

If you prefer to fly rather than drive, you will then be responsible for getting to/from work while in Bloomington.

Internship Focus

Provide real world experience on how the insurance and risk management function works within a global organization.

Objectives for Intern

• Learn what is involved in renewing an insurance contract.
• Understand risk transfer through various insurance policies.
• Learn how a policy responds to a claim and why terms and conditions can predict if coverage exists, or not.
• Learn how to be a part of a team and have a voice in decision making.
• Understand how data analytics provides value to the organization.
• Attend loss control visits by carriers and how their recommendations can affect renewal terms.
• Network and have a great internship experience.

Specific Job Functions/Duties

Assist with annual insurance renewals (over 100 policies). Update various spreadsheets with data collected for underwriters, such as names, address, officers, titles, assets, sales, payroll, number of employees, total insured values, etc., for all Cook entities. Assist with loss control services, claims adjusters, invoicing, loss runs, and reserves. Allocate premiums, track historical costs, and update TCOR values. Monitor loss trends. Maintain and provide certificates of insurance. May review a vendor contract for learning purposes only. Assist with Cook’s record management program.  

Potential projects include:

• Loss Analytics project for Auto Insurance Program
• Loss Analytics project for Worker’s Compensation
• Quarterly Fleet Risk Management Newsletter/Communications
• Renewal Process incorporation with Insurance Broker
• TCOR Analytics project for 2024 goal setting
• Presentation with EH&S Intern – EH&S + RM project together, exposure combo on how to perform a corrective action/opportunity for improvement

Required Qualifications

You must be: 

• Entering junior or senior year in fall semester 2023

Or

• Entering graduate school

Or

• A college student graduating spring 2023

And

• All candidates must provide proof of enrollment (including pre-registration certification for the following fall) for consideration
• Interest in a career in the Life Sciences field
• Willingness to take initiative
• Ability to work well with others
• Multiple disciplines will be considered (e.g., Marketing, Life Sciences, General Business, and Management) 
• Must be proficient with Microsoft Word and Excel programs
• Detailed oriented
• Project management and time management experience
• Excellent written and oral communication skills
• Basic math proficiency
• Curious and eager to learn
• Professional demeanor and good attitude

Preferred Qualifications

• A minimum GPA of 3.0
• Risk Management and insurance knowledge/experience
• Analytics and statistics knowledge/exposure
• Possess maturity developed through diverse life experiences
• Engaging personality that fosters communication
• Ability to thrive in a dynamic environment with limited direction
• Completed coursework in business, management, operations, engineering, or related fields