International Internships

Every year in June the Katie School sends eight students on an international internship. There are two 4-week international internships, the first in London, England and the other in Zurich, Switzerland. The Katie School also offers two 3-week international internships, where four students will go to Bermuda or South Africa.

How to Apply

Applications are available for pick-up in the Katie School Office or by contacting Debbie Babcock. The application process begins in November and ends mid-January. Candidates are chosen shortly thereafter. The application deadline is typically late January.

Two juniors are selected each spring per each location and the eight students receive a tremendous experience in these global insurance markets learning about different facets of the industry. They develop networking skills by interacting with many industry professionals on a daily basis.

The Katie School covers costs including airfare, lodging, meals, and ground transportation. Each student will receive scholarship funding to cover incidental expenses. The student interns will receive 6 hours of University credit when all requirements are completed and the Katie School will also pay the tuition for this course.

London

The internship in the Lloyd's and London markets will provide the students with experiences including:

Spending time in the legendary Lloyd’s underwriting boxes and working with underwriters as they complete transactions with brokers and learning more about the current market trends within the Lloyd’s and London markets
Shadowing brokers as they interact with underwriters in Lloyd’s and the London company markets
Learning how Lloyd’s operates as a whole and what role it plays among companies that participate in the market
Developing a better understanding of the unique and complicated risks the insurance industry insures
Working with claims personnel as they facilitate the claims process for the syndicates
Learning more about the reinsurance segment of the industry
Developing networking skills by interacting with many industry professionals on a daily basis
Gaining a global perspective on the insurance industry and how people do business in other cultures
Having a better understanding of how Lloyd’s fits into the U.S. market
Experiencing an international living experience at the International Student House (ISH) with 400 other students from around the world and enjoying discounted weekend trips through the ISH
Living in a new cultural environment and enjoying free time to explore the great city of London!

Bermuda

The internship in the Bermuda market will provide the students with experiences including:

Shadowing brokers and underwriters plus seeing the claims, finance, regulatory and investment aspects of the Bermuda market
Visiting with a captive management company
Meeting with law firms to learn about the ease of the incorporation of companies in Bermuda
Learning more about the reinsurance segment of the industry
Developing networking skills by interacting with many industry professionals on a daily basis
Experiencing a new cultural environment
Interacting with Bermudian students who will also be participating in the internship

Zurich, Switzerland

The internship in the Zurich market will provide the students with experiences including:

Shadowing reinsurers, claims personnel and underwriters plus visiting with various departments in the corporate setting
Gaining a global perspective on the insurance industry
Developing networking skills by interacting with many industry professionals on a daily basis
Experiencing an international living experience at the Youth Hostel in Zurich
Living in a new cultural environment
Acquiring a new understanding of the U.S. markets
Meeting people from many different cultures and meeting students from many different countries

Watch 2009 interns Doug Johnson and Nick Paul describe their unique experiences while interning in Zurich.

South Africa

The internship in the South African markets will provide the students with experiences including:

Gain a valuable international insight into the global environment of risk management.
Working as an intern in the Cruywagen-IRMSA Foundation Intern Programme.
Network with South African university students.
Work with risk management professionals in several industries.
Understanding, indentifying, and assessing risks facing Businesses and different ways to manage risk.
Experiencing an international living experience at the Southern Sun Grayston Hotel in Johannesburg & weekend outings.
Experience a hands-on learning environment by shadowing risk management professionals.

Criteria

Completion or enrollment in FIL 250: Introduction to Insurance and Risk Management.
Currently completing junior year at Illinois State University.
Pursuing a career in the Insurance and Risk Management industry.
Minimum of a 3.0 GPA.
Preference given to students with Insurance major or minor and Gamma Iota Sigma members.

Requirements

The student will be required to prepare a research paper on the applicant's respective international market prior to departure.
The student will make a presentation to the sponsoring organizations and also present to small groups on the ISU campus during the following academic year.
The student will represent the Katie School of Insurance and Financial Services with the highest degree of professionalism while abroad.
The student will attend all planned events as outlined by the internship schedule each day.
The student will send 'thank you' notes to all company contacts within one week upon arrival in the U.S. after completion of the internship.
The student will compose a reflection paper after completion of the internship.

Any interns failing to meet the responsibilities will not receive credit for the internship and will reimburse the Katie School for all costs incurred including transportation, lodging, and meals.