Intern: Corporate Risk & Insurance

This position is a 12-week paid internship located in Bloomington, Indiana. It is offered for a period extending from mid-May through mid-August (exact dates depend on school calendars.) This position includes 401(k) options, an assigned mentor, capstone presentation, and intern events. This position is hybrid but can be changed to accommodate a full work week onsite. When in office, you will also have access to a fitness center and an onsite cafeteria option. A one-time housing stipend will be offered. All internships provide hands-on experience with meaningful projects in the Medical Device Manufacturing Industry.

This internship is focused on providing real world experience on how the insurance and risk management function works within a global organization.

Objectives:

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 an 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

• Assist with annual insurance renewals (over 100 policies)

• Update various spreadsheets with data collected for underwriters, departmental leadership, insurance brokers, and entity leadership.

• 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.

Required Skills:

• Must be proficient with Microsoft Word and Excel programs
• Detailed oriented
• Project and Time Management experience
• Excellent written and verbal communication skills
• Basic math proficiency
• Curious and eager to learn
• Professional demeanor and good attitude
• Risk Management and Insurance experience, not mandatory but preferred
• Analytics and Statistics, not mandatory but preferred

• All candidates should have an interest in a career in the Life Sciences field, a willingness to take initiative, and an ability to work well individually and with others
• Candidates should be students entering their Junior or Senior year the following fall semester or entering graduate school; candidates who graduate the spring semester before this internship are also eligible
• A minimum GPA of 3.0 is preferred
• All candidates must provide proof of enrollment (including pre-registration certification for the following fall) for consideration
• Multiple disciplines will be considered (e.g., Marketing, Life Sciences, General Business, and Management)