Internship - Sales & Pricing Actuary (Origination Team)

The New Business (Origination) team at PIC plays a critical role in driving the company’s success by marketing and originating new pension insurance transactions. The team is responsible for identifying, pricing and structuring new business, ensuring transactions are competitive, sustainable and deliver good outcomes for policyholders.

Origination works closely with teams across PIC to support the end‑to‑end new business process, from initial pricing and analysis through to onboarding and long‑term implementation of new transactions. A key part of the role also involves analysing data to calculate internal pricing assumptions, which are fundamental to accurate and robust pricing decisions.

In addition, the team builds and maintains strong relationships with pension scheme Trustees, corporate Sponsors and actuarial advisers/brokers, supported through networking and business development activity.

About the Internship Programme

This internship is part of PIC’s Early Careers Programme and offers 8 weeks of on‑the‑job experience within the Origination team. As an intern, you’ll work on innovative projects, develop valuable skills, and be part of a collaborative and supportive culture that fosters professional growth and development. The internship is fully office‑based (5 days a week in London). The internship will run from 15th June 2026 - 7th August 2026.

What you’ll do

As a Sales & Pricing Actuary Intern, you will:

• Learn how PIC’s purpose of paying the pensions of current and future policyholders is supported through new business origination and pricing activity.
• Provide administrative and operational support to the Origination team, including note‑taking, creating templates, running reports, drafting internal meeting agendas and maintaining electronic filing.
• Attend internal meetings to gain exposure to how teams collaborate to price, structure and deliver new business transactions within agreed timeframes.
• Support ongoing projects and business‑as‑usual activity across the Origination function.
• Carry out research into market trends, pension transactions and industry developments, reading published materials to build your understanding of the pensions and insurance market.
• Gain hands‑on exposure to pricing analysis, data inputs and assumption setting, and where appropriate, observe relationship‑building and networking activity with external stakeholders.

Requirements

What we’re looking for

You’re someone who:

• Is capable and willing to learn, applying new knowledge across systems, processes and analytical work.
• Is confident asking questions when something is unfamiliar and seeking clarity to move forward.
• Can adapt and flex your approach to meet the needs of different tasks and projects
• Demonstrates strong numeracy, attention to detail and accuracy, particularly when working with data.
• Takes a logical and structured approach to delivering work.
• Prioritises effectively and communicates progress clearly to colleagues and managers.
• Works in an organised way, using tools and strategies to deliver efficiently.
• Takes ownership of your learning and development, building both technical skills (such as analysis and judgement) and non‑technical skills (including relationship management and communication).

Eligibility

To be eligible for this internship, you must:

• Be a second‑year university student at the time of application, graduating in 2027
• Be able to commit to the full programme dates: 15 June – 7 August 2026
• Have the right to work in the UK

Why Origination?

If you are highly numerate, curious and interested in the commercial side of financial services, this internship offers a unique opportunity to see how new pension insurance business is priced, structured and won. It is particularly well‑suited to students studying a STEM subject who are interested in pursuing an actuarial qualification and enjoy combining analytical work with relationship‑based and commercial activity.

Benefits

In addition to a your base salary, you will be given daily lunch vouchers to use in our internal Cafe and receive travel reimbursement* for the duration of your internship.

DEI at PIC

At PIC, we believe that true innovation stems from embracing diverse perspectives, backgrounds and experiences. We are committed to building a workplace where every individual, regardless of race, gender identity, sexual orientation, disability, age, religion, or socio-economic background, feels valued, heard and empowered to succeed. We hold ourselves accountable through ongoing initiatives, such as inclusive hiring practices, and equitable career development opportunities that support belonging and community. While we're proud of our progress, we recognise there's work ahead, and we remain dedicated to listening, learning and evolving together.