Quantitative Analysis Intern

Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.

RVI Group, a Group 1001 company, is a financial services company focused on specialty property and casualty insurance and reinsurance. For over 30 years, RVI Group’s flagship residual value insurance products have protected lessors, investors, and lenders against market value declines in assets and were instrumental in helping clients, who are active worldwide, manage asset risk and lease accounting across multiple asset classes, including passenger vehicle, commercial equipment and commercial real estate.

Position Summary:

We are seeking an intern to join our Quantitative Analysis Department for the summer. Primary responsibilities for this position include performing research and quantitative analysis to support product development.

This individual must have excellent analytical capability, strong collaboration and communication skills as well as the ability to deliver high quality work with strong attention to detail. This individual will report and work closely with RVI’s Quantitative Analysis Team.

This is a hybrid position based out of Stamford, CT.

Core Duties and Responsibilities:

• Collect and process external data to support current market value, residual value forecast assessment, vehicle identification process, and assigned research topic
• Analyze historical data and provide recommendations to enhance forecast processes
• Conduct research on internship topic
• Present research and findings of market trends and forecast processes

Research Topics / Projects:

China Current Market Value, Residual Value Guidebook, and Used Vehicle Price Index Forecast

To support our underwriting efforts for businesses in China, the position will support our effort to refine China Current Market Value (CMV) and residual value forecast processes, including:

1. Conduct data quality review to evaluate accuracy and standardize information,

2. Enhance data collection and extraction process,

3. Perform analysis on macroeconomic factors to improve accuracy of residual value forecast,

4. Create Used Vehicle Price Index Forecast for the China market

The topic will require data collection, modeling, and a final presentation on findings.

Research Topic: "China's New Energy Vehicle Price War: Analyzing the Causes, Impact, and Future Implications for the Global Auto Industry"

To support our underwriting efforts for businesses in China, the position will support our effort to refine residual value forecast processes and insurance product development.

1. Why did the NEV price war emerge in China?

2. What were the key events during the NEV price war?

3. What were the immediate and long-term impacts on China’s NEV market?

4. How long is the impact expected to last, and what is the likely future trajectory of the price war?

The topic will require data collection, modeling, and a final presentation on findings.

Research Topic: "The Future of Battery Electric Vehicles (BEV) Contingency: Will Charging Speed, Range Extenders, Fuel Cells, Battery Swapping, or Advanced Battery Development Lead the Way?"

To support our underwriting efforts for businesses for international market, the position will support our effort to refine residual value forecast processes and insurance product development.

1. What are the current technological challenges and limitations facing BEVs?

2. Will charging speed be the key factor in BEV adoption?

3. Will range extenders or alternative power sources (such as hydrogen fuel cells) replace BEVs, or work alongside them?

4. How viable is battery swapping as an alternative to traditional charging?

5. What role will advanced battery development play in the future of BEVs?

The topic will require data collection, modeling, and a final presentation on findings.

Reinsurance Database Management

To support the enhancement of the reinsurance database by focusing on:

1. Improve the structure and organization of the database to enhance accessibility, efficiency, and scalability,

2. Load and manage various policy records, including loss and enrollment data,

3. Streamline workflows, automate data ingestion, and minimize errors to improve overall database performance,

4. Create interactive visualizations to display enrollment and loss observations on a map.

The topic will require database design, database relation modeling and a final presentation on findings.

Position Requirements:

Education and Experience:

• Enrolled in a Graduate Degree program in actuarial science, statistics, economics, financial engineering, or other related fields
• Minimum of one year completed in current Graduate program
• 0-6 months experience in an analytical position
• Knowledge/ experience in auto industry preferred

Technical Knowledge / Skills:

• Proficient in Microsoft Excel and working knowledge of Stata
• Proficient in SQL
• Proficient in Python, R, MATLAB or other statistical software
• Proficient in Chinese
• Excellent skills and/or experience in data analysis and management
• Excellent grammar, written and spoken communication skills in English

Key Competencies (self-management, collaboration, and leadership)

• Ability to work on assigned research topic and achieve results independently
• Must have excellent communication skills
• Strong interpersonal and collaboration skills

• Ability to learn new tasks and skills quickly; comfortable asking questions and verifying information and requirements

Benefits Highlights:  

Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001’s benefits package. Employees (and their families) are eligible to participate in the Company’s comprehensive health, dental, and vision insurance plan options.  Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company’s Employee Assistance Program and other wellness initiatives.  Employees may also participate in the Company’s 401K plan, with matching contributions by the Company. 

Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals.  All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.