- Where did you do your internship and what was your role?
I did a 5 month period summer internship at elseco Limited, a risk management and insurance underwriting company. As a trainee at elseco, I employed my data analysis skills to support all three underwriting lines: space, aviation, and energy.
With other trainees, I worked in a team to collect data that could improve the underwriting process for the aviation line. In addition to this, I supported the space team by performing portfolio metrics and statistical analysis of premium rates, and collected premiums by year, satellite mission phases and risk categories. Finally, I contributed to the energy underwriting team by handling claim updates to elseco´s claims committee and elseco´s members, verifying premium computations from closings sent from brokers and reviewing survey reports used to evaluate risks.
2. How did your studies at TSE help you during the internship?
Working in the insurance industry, all of my missions required a certain knowledge of data analysis. For example, as I needed to collect relevant data that would be used to estimate premium rates for aircrafts, the concepts of explanatory variables and correlation from my econometrics course came to mind. Furthermore, the portfolio analysis lectures from my corporate and market finance courses were of much help when working with the space team.
The M1 at TSE requires hard work, attention to detail, and dedication. This helped me when supporting the energy underwriting process: writing a claim update required me to go through a claim report in order to understand why a steam turbine suffered a loss when starting up, or why a power plant was affected by a NatCat, given their safety procedures and practices. Reviewing new businesses brought from brokers required a full and detailed review of survey reports to get a first idea of the assets (a power plant, a pipeline construction project), and how risky they were. Without dedication and attention to detail, this process would difficult.
3. How did you find the internship? What would be your advice for students looking for a similar internship?
I was constantly checking the alumni website, and one day I saw the offer from elseco. It caught my attention as I believed the profile description matched my interests and profile. I find the aviation and aerospace industry very exciting, and elseco was handling risk management for it, so I did not hesitate to apply!
My first piece of advice is to be passionate about the aerospace industry, because it will make you enjoy every mission that you will be assigned to. It is also key to show your enthusiasm and hunger to learn, so as to sell yourself in an interview or a business networking day. Last but not least, you need to be ready to deliver the best version of yourself.