Internship Risk Quant Jobs in Indiana (NOW HIRING)

Overview
Milliman's Indianapolis Health practice is seeking an Actuarial Analyst Intern (Summer 2027) to join our growing Health and Human Services team, currently supporting actuarial services for 10+ states across the U.S. Interns will work on a project(s) and deliver a presentation on their work at the end of the summer. Our flat structure provides ample opportunity for self-motivated actuarial analysts to ask questions, learn fast, interact with leading experts in the field, and take initiative to develop personalized professional goals. Our staff are highly engaged with interns throughout the 11-week experience. From work assignments, and professional development, to cultural excursions, the cohort will have many opportunities to learn why Milliman is a great place to begin an actuarial career.
Responsibilities
In this role, you will:

• Analyze healthcare cost and utilization data using claims databases
• Examine benefit plan and insurance pricing
• Perform experience analysis and reserving
• Complete technical research and computer modeling
• Provide financial and statistical analysis
• Reconcile claims data and project future costs
• Support ad-hoc client requests
• Support senior staff in strategic projects such as supporting clients through environmental changes or healthcare reform
• Prepare and present written reports and oral presentations to communicate analysis results
• Use emerging tools, including AI-enabled technologies, to support analysis, workflow efficiency, and communication of results

Qualifications

• A desire to expand actuarial skills and be committed to obtaining Fellowship
• Knowledge of Excel
• Willingness to learn new software and coding skills (SQL, SAS, VBA, etc.)
• Time management skills
• Strong analytical, communication (written and oral), and organizational skills
• Basic knowledge of Gen AI tools, how to utilize AI to enhance productivity, and potential ethical considerations or concerns

Required:

• Working toward a Bachelor's or Master's Degree in actuarial science, mathematics, statistics or another related quantitative field

Preferred:

• Cumulative GPA of 3.3 or higher
• Passed, at minimum, 1 Society of Actuaries exam

Internship Highlights

• 1:1 mentoring with structured feedback from a peer guide and supervisor
• Exposure to senior consultants and practice leaders
• Structured opportunities for professional learning and development i.e. Lunch & Learn Series
• Guest speaker series covering a wide range of professional development skills
• A supportive review process that helps interns strengthen technical and problem-solving skills
• Housing or housing stipend
• Social activities - intern-only and practice-wide
• Cultural excursions - Get to know Indy by visiting iconic sites
• Conclude the program with a presentation on a business project or problem to leadership and peers
• Ample opportunity to discuss transition to full-time employment

The Team
The Indianapolis Health Practice is strategically structured to serve state Medicaid agencies and other health and human services agencies. We create dedicated core teams for each state Medicaid agency client that are customized to serve each of our clients' unique needs. New staff are placed on a dedicated state client team, learning from seasoned consultants. As a member of a state client team, you will observe how we provide comprehensive consulting services which span from many different disciplines and backgrounds including actuarial, policy, finance, pharmacy, and data management, all working together for a common goal to best serve our clients' needs.
Location
This position is based out of the Milliman office in Indianapolis, IN. Candidates hired into this role must be willing to work onsite full-time.
Benefits
We offer competitive benefits which include the following based on plan eligibility:

• Employee Assistance Program (EAP) - Confidential support for personal and work-related challenges.
• 401(k) Plan - When an employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan that includes a company matching program and profit-sharing contributions.
• Paid Time Off (PTO) - Begins accruing on the first day of work; Interns, Temporary, and Seasonal Employees will earn PTO each pay period, based on 1 hour for every 30 hours worked.
• Transportation - Pre-tax savings for eligible transit and parking expenses.

Who We Are
Independent for over 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world's most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation.
Milliman invests in skills training and career development, and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERG's) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site https://www.milliman.com/en/social-impact to learn more about Milliman's commitments to our people, diversity and inclusion, social impact and sustainability.
Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance.
Equal Opportunity
All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.
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