Accounting Fall 2025 Co-Op at Allstate Insurance Company

Richfield, Ohio, United States

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Not SpecifiedCompensation

InternshipExperience Level

Part TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Available for part-time co-op starting Fall 2025 at Richfield, Ohio office
Interest in rotational program across Loss Accounting, Reinsurance Accounting, General and Statutory Accounting, and Financial Planning and Analysis

Responsibilities

Maintain loss and loss adjustment expense reserve calculations based on actuarial models and historical claim data and analyze such calculations to ensure accurate presentation in financials (Loss Accounting)
Assist in preparation of standard monthly reports and ad-hoc analyses of loss ratio for senior management (Loss Accounting)
Collaborate with claims adjusters, underwriters, actuaries, and other finance personnel to identify and resolve discrepancies in financial records and claims data (Loss Accounting)
Support department by providing complete and accurate accounting information such as footnote schedules, regulatory reports, and key management reports (Loss Accounting)
Perform technical accounting duties, such as recording premiums and claims transactions, related to month and quarter-end close activities (Reinsurance Accounting)
Reconcile reinsurance balances with participants on various treaties and facultative reinsurance placements (Reinsurance Accounting)
Prepare reinsurance billings and payments for premiums, commissions, and claims, working with reinsurance brokers and reinsurers; monitor and assist with resolving aged receivables (Reinsurance Accounting)
Complete semi-annual financial statements for alternative risk transfer rental captive products, shared with product management and insureds (Reinsurance Accounting)
Validate and analyze reinsurance system data, including recalculations of reinsurance applied to large claims (Reinsurance Accounting)
Prepare schedules to support monthly consolidated financial statements (General and Statutory Accounting)
Assist with prepaid assets, fixed assets, other assets, and other liabilities, including recording journal entries and account reconciliations (General and Statutory Accounting)
Learn statutory reporting process and support preparation of quarterly and annual statutory financial statements and filings (General and Statutory Accounting)
Help facilitate filing of sales and use tax, and excise tax returns (General and Statutory Accounting)
Engage in annual planning and quarterly forecasting processes, including preparing analysis (Financial Planning and Analysis)

Skills

Accounting

Loss Accounting

Reserve Calculations

Loss Adjustment Expense

Actuarial Modeling

Allstate Insurance Company

Provides a range of insurance products

About Allstate Insurance Company

Allstate provides a variety of insurance products, including auto, home, and life insurance, aimed at protecting individuals and families from financial risks. The company operates by selling insurance policies, which customers pay for through premiums. These premiums are then invested to generate returns for the company. Allstate distinguishes itself from competitors by offering a multi-channel distribution approach, allowing customers to purchase insurance through agents, online platforms, or partnerships with other financial services. The company's goal is to ensure customer satisfaction and reliability, as reflected in their slogan, "You're in Good Hands with Allstate," while also promoting diversity and engaging in corporate social responsibility initiatives.

Northbrook, IllinoisHeadquarters

1931Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Benefits

Flexible Work Hours

Risks

Natural disasters due to climate change lead to higher insurance claims, impacting profitability.

Insurtech companies increase competition, potentially affecting Allstate's market share.

Regulatory scrutiny over data privacy could lead to increased compliance costs for Allstate.

Differentiation

Allstate offers a diverse range of insurance products, including auto, home, and life.

The company uses a multi-channel distribution strategy to reach a broad audience.

Allstate is committed to inclusive diversity and corporate social responsibility initiatives.

Upsides

Increased adoption of telematics allows for personalized premiums and better risk assessment.

Climate change drives demand for new insurance products covering emerging risks.

Growing digital insurance platforms enable Allstate to reach younger, tech-savvy consumers.

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