Arush joined Hiscox as an Actuarial intern in 2024, and tells us more about his time on the programme.
Why did you choose a summer internship at Hiscox?
I chose a summer internship at Hiscox because it offered the perfect environment to combine my analytical and numerical skills from my Financial Mathematics degree with the dynamic nature of the insurance industry. As an Actuarial intern, I have used my mathematical knowledge to assess risk, analyse data, and develop innovative solutions with a real difference.
I find the insurance industry particularly fascinating because it plays a critical role in providing financial security and stability to individuals and businesses during uncertain times. The opportunity to be part of a sector that supports people in their worst moments is deeply meaningful to me.
When I reached out to several Hiscox employees, they were happy to take time to speak with me, demonstrating the company’s supportive culture and ‘Human’ value. This, combined with the company’s growth prospects, convinced me that Hiscox was the ideal place to challenge myself, learn from the best, and contribute to shaping the future of insurance.
What does your day-to-day look like as an Actuarial Intern?
My day kicks off with a quick chat with my manager to review my objectives and prioritise my tasks. I check emails and get ready for any scheduled meetings, like our 'Link and Learn' sessions, which give me and the other interns great insights into various other functions like claims and underwriting.
Being part of the Group Capital Management team, we assess risk levels and ensure Hiscox is deploying capital efficiently across the business. While the modelling can be quite intricate, it really helps me to see how everything operates at a broader level. During the internship, I've been involved in the annual Lloyd's Capital Requirements submission, focusing specifically on Credit Risk and how it impacts our capital, especially the potential risk of reinsurers defaulting on claims.
I have also had the chance to create a dashboard to monitor the performance of Hiscox's reserving systems and other operations. I have enjoyed the creative process of designing the dashboard and have been able to leverage technical skills as I coded in R programming language, while also incorporating data from Excel and SQL to ensure it is user-friendly.
Outside of this, I regularly meet with colleagues in other functions, such as pricing and reserving, to understand how Hiscox operates as whole, and how the various teams interact to drive success.
How would you describe the culture at Hiscox?
When it comes to describing company culture, you often hear buzzwords and lofty ideals, but at Hiscox, the reality truly reflects its values. The emphasis on being 'Human' and 'Connected' really resonates throughout the organisation, as everyone is more than willing to take time out of their day to talk, teach, or highlight opportunities available to interns and employees alike.
There is also a strong sense of community. There are numerous team socials, workshops, and employee networks that foster connections and allow everyone to engage beyond their immediate roles. The environment is inclusive, where diverse perspectives are valued and feedback is encouraged. Employees feel empowered to voice their ideas and concerns which I find inspiring.
How has Hiscox supported your development?
The program has enabled me to rapidly enhance my skills, especially in complex Excel formulas and R coding, and Tyche.
The ‘Link and Learn’ sessions have provided me with a much broader understanding of the insurance industry and Hiscox as a whole, as I can connect the dots across the organisation. My graduate buddy has been immensely helpful, providing personalised advice, and I have enjoyed being part of a wider intern cohort based across the London and York offices.
I feel encouraged to take on responsibilities, ask questions, and collaborate with my team members, with the opportunity to drive my own learning through online courses, including 'Introduction to Reinsurance' and project management.
Three words to describe my experience:
Empowering
Collaborative
Well-rounded
What piece of advice would you give to someone thinking about doing an internship at Hiscox?
Be curious and adaptable. At Hiscox, you'll be exposed to a variety of projects, so being flexible will help you make the most out of your experience. Don’t be afraid to take ownership; this is a place where initiative is rewarded, and you’ll get the chance to make real contributions.
Focus on building relationships. Hiscox has a friendly and open culture, so take the time to connect with people from different teams. These connections (whether in-person or virtual) will not only help you learn but will also enrich your overall experience.
Most importantly, be yourself, and don’t be afraid to make mistakes. You’ll be encouraged to step outside your comfort zone, so trust in yourself and your ability to figure things out.
Finally, remember that the internship is as much about your personal growth as it is about work. Hiscox is a great place to discover your strengths and develop both technical and soft skills, so dive in fully!
Find out more about internships at Hiscox
