Student Intern Spotlight Form ■ Spring 2014 ■ Career Corner E-Newsletter
Student Name: Evan Cronick
Student Academic Major: Actuarial Science
Student Status: Senior
Internship Placement (Organization & Location): Humana; Louisville, Kentucky
Internship Title: Actuarial Intern, Corporate Actuarial
How did you secure your internship?
Humana came to the Actuarial Science Club here at MSU to give a presentation about the company. Afterwards, I spoke to a couple of the recruiters and decided to apply. I applied online, had a quick 15 minute phone interview shortly after, and flew down to Louisville for an in-person interview the following week. The morning after I got back, I received a phone call with an offer to intern over the summer.
What are your primary responsibilities/day-to-day activities?
My primary responsibility for the summer was updating IBNR (Incurred But Not Reported) Lag Factors for Life Insurance Reserves. The previous study had been done in 2006, so my manager thought it was about time to do another study. The project took roughly 2 months from start to finish, and I built the entire file myself. I started with an empty spreadsheet, collected & organized all data from 1999, and built numerous tables and countless formulas to automatically update the factors based on varying time frames and differing cuts of data. After presenting my work to two Actuarial Directors my findings were determined to be accurate, and are in the process of being implemented now.
I had various other smaller projects during the summer that I worked on. I would typically spend about a week out of a given month working on these and related Long Term Care projects. I also had a few presentations I needed to prepare for the internship. The first was a five minute introductory presentation, and the second was a more technical ten minute presentation about the work I had done over the summer. All of the interns in every department and both locations (Green Bay and Louisville) gave these presentations to a group that consisted of the interns, their leaders, members of the Actuarial Advisory Team, and even the Chief Actuary.
What is the best part of your internship?
The highlights of my internship were all the incredible out-of-office activities that Humana coordinated for the interns. The very first week we were there we watched a Louisville Bats game form the Humana Suite. Also, every week we were given career talks from various employees in multiple departments and got to hear about their stories. Finally, we went to the Downs after Dark White Party at Churchill Downs, another event where we were given access to a Humana Suite and complementary five star dining.
What are the top two things you have learned?
The top thing I learned from my internship is the value of a company’s culture, and the importance of finding one that fits you. Humana values employee well-being and a strong work-life balance more than any other company that I interviewed with, and those values are very important to me. While I was there, Humana had their 2nd Annual “100 Day Dash.” Every employee is provided a pedometer, and everyone is encouraged to rack up as many steps during the 100 days as possible. They even had a “Dasher Day,” where they encouraged all employees to dress in business active attire and go down to the baseball field and just walk for as long as they desired. This is just one example of the many ways I experienced Humana promoting employee well-being.
The 2nd thing I learned was the importance of expanding your knowledge and abilities beyond the bare minimums required by your degree. Actuaries typically focus solely on their exams, and while they are important there is so much else that is needed to succeed in this field. In my experiences, an actuarial exam will get you in for an interview, strong communication skills will land you an internship/job, and strong technical and software skills will allow you to thrive in the workplace.
Would you recommend this internship to someone else? If so, why?
I would definitely recommend this internship to someone else (and have on many occasions).
A quote that sums up your internship experience:
As my recruiter said when he was telling me about where I would be working for my internship: “When your friends ask you where you’re going, tell them you’re going to Louisville, not Kentucky.” I absolutely loved living in Louisville, and I can’t wait to move down there next summer when I start working for Humana full-time.