SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, “ The Art & Science of Risk ”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR’s aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.
SCOR Global P&C has expanded its Ventures activity in InsurTech and has created a paid summer Ventures Intern position to support the P&C Ventures team’s efforts to execute investments, build partnerships, and share global expertise on InsurTech across SCOR. The internship is intended for an Undergraduate student looking for exposure to a combination of start-ups and a global company (we are the #4 reinsurer globally and operate in 160 countries).
SCOR Global P&C has invested in, and partnered with, InsurTech companies for many years. In 2017, this activity was centralized into a Ventures function, sponsored by the CEO, which has since made multiple investments and formed multiple partnerships. We have both led and followed, and we often seek board positions. Additionally, the Ventures team is an entry point for InsurTech companies looking to do business with SCOR and manages projects relating to InsurTech. The team is an internal resource for expertise for both the business and for SCOR’s clients.
Our investing includes both debt and equity as well as providing reinsurance or insurance capacity. We invest in insurers and MGAs, ranging from early stage through established. Additionally, we form partnerships and occasionally invest in “service providers” that would offer technologies or tools to enhance our underwriting or our clients’, or that otherwise strengthen and help grow our business or our clients’. The role is not purely investing but rather will cover a wide range of aspects at the intersection of insurance, finance, technology, and innovation.
The position is intended to provide a solid introduction for students seeking roles in insurance, venture capital, or innovation-related fields. The role is full time over the summer and based in SCOR’s Chicago office (the role may be remote pending the status of COVID-19). The individual will report to the Ventures Associate, who reports to the Global Head of P&C Ventures.
Key Duties And Responsibilities
- Assist with start-up assessments and InsurTech trend research to support the team’s capabilities to identify opportunities for investment or partnership, as well as for internal knowledge sharing efforts. Typical start-up reviews will include assessments of market sizing, technology, revenue model, product/service, market positioning, etc.
- Help to prepare and attend meetings with early-stage companies
- Assist the team in maintaining records of companies we have engaged with, including writing and distributing meeting summaries and recording information in our central database
- Build content to support internal and external Ventures team presentations
- Support other general inquiries or general operational requirements
Required Experience And Education
- Interest in insurance, corporate venturing, start-ups, and the interface between global companies and start-ups, with a strong desire to learn the business.
- Proficiency and comfort with Excel, PowerPoint, and Outlook
- Ability to sort through large amounts of information, understand it, and identify that which is most relevant, then present it in a logical format.
- Ability to keep oneself organized and solve problems without being told precisely how
- People skills / ability to represent the team in a professional manner
- Undergraduate university student, preferably an incoming Senior (will also consider incoming Juniors)
- Ability to work full-time throughout the course of the internship (start and end dates to be agreed )
- Strong academic credentials and relevant coursework
If interested, please apply here.