Internship Actuarial Development Program Jobs in Texas

It's about insights that are out of sight.

Do you enjoy researching and extracting insights from data? Would others describe you as being reliable and resourceful? Do you have a background in Health and Benefits and actuary services? If so, being an Insurance Actuary Analyst with Frost could be for you.

At Frost, it's about more than a job. It's about having a flourishing career where you can thrive, both in and out of work. At Frost, we're committed to fostering an environment that reflects our values and encourages team members to be the best they can be. In joining our adaptable, integrity-driven team, you'll become part of Frost's over 150-year legacy of providing unparalleled banking services.

Who you are:

As an Insurance Actuarial Analyst with Frost, you are our data guru! In this role, you will lead the collection, validation, and analysis of complex healthcare data to help us remain competitive. You are excited to combine your passion for insurance and actuary services to direct in-depth analysis of the client claims experience. You are a subject matter expert with the ability to lead teams and influence others. More than that, this role is about ensuring efficient and effective collaboration and doing it with integrity, caring and excellence in mind.

What you'll do:

• Lead the collection, validation, and analysis of complex healthcare data to deliver strategic financial reports, forecasts, and cost projections for health and benefits programs

• Provide actuarial oversight of carrier underwriting, validating rates, assumptions, and methodologies while resolving discrepancies to ensure accurate and competitive pricing

• Direct in-depth analysis of client claims experience (medical, pharmacy, stop-loss), producing budget vs. actual reporting and actionable insights to improve cost performance

• Develop and manage advanced pricing and rate strategies using actuarial techniques such as trend analysis, credibility, experience rating, and predictive modeling

• Conduct benchmarking and competitive analyses, translating comparisons against industry and geographic peers into executive-level recommendations

• Lead forecasting and scenario modeling to evaluate healthcare costs, utilization trends, demographic changes, and high-cost risk exposures

• Standardize and enhance actuarial models, financial frameworks, and reporting processes to improve consistency, scalability, and operational efficiency

• Collaborate with underwriting, finance, and consulting teams to align assumptions and ensure compliance with regulatory requirements (e.g., Affordable Care Act, Employee Retirement Income Security Act)

• Serve as a senior advisor by presenting insights to clients, supporting business development and renewal strategies, leading special projects

• Always take action using Integrity, Caring, and Excellence to achieve all-win outcomes

What you'll need:

• Bachelor's degree

• 6+ years of experience with a major Health and Benefits firm

• 5+ years of experience in actuarial services

• Strong experience with health and benefits claims projections, financial modeling, and data analysis

• Deep understanding of underwriting principles and financial services practices

• Proven ability to lead client engagements and present complex information effectively

• Advanced proficiency in Microsoft applications, including expert-level Excel skills

• Experience with predictive modeling, simulation, and analytics tools

• Excellent written and verbal communication skills

• Demonstrated ability to lead teams, manage projects, and influence stakeholders

• Ability to obtain and maintain appropriate licenses as required by state regulations and Frost policies

Additional Preferred Skills:

• Demonstrated experience in team leadership, client advisory, and large-scale program oversight

Our Benefits:

At Frost, we care about your health, your family, and your future and strive to have our benefits reflect that. This includes:

• Medical, dental, vision, long-term disability, and life insurance

• 401(k) matching

• Generous holiday and paid time off schedule

• Tuition reimbursement

• Extensive health and wellness programs, including our Employee Assistance Program

• Referral bonus program + more!

Since 1868, Frost has dedicated their expertise to provide exceptional banking, investment, and insurance services to businesses and individuals throughout Texas. Frost is one of the 50 largest U.S. banks by asset size and is a leader in banking customer satisfaction. At Frost, it's about being part of something bigger. If this sounds like you, we encourage you to apply and see what's possible at Frost.