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An opportunity for college students to gain real-world experience at a Fortune 500 company.
Published on October 16, 2024
Markel’s summer college internship program both supports education and develops the company’s early career pipeline. From May to August each year, this paid internship gives college students exposure to a professional working environment while they learn about the operations of a global insurance company. It is a wonderful opportunity for college students to gain real-world experience at a Fortune 500 company.
"The primary objective of our internship program is to provide real-life work experience and insurance industry careers education,” noted Mary Allen Waller, Global Director of Community Engagement at Markel. “Each day provides an opportunity for our interns to contribute to the success of a leading global insurer while preparing them for a successful career.”
Markel’s college summer internship program illustrates the company’s commitment to education and workforce development for both higher education and for high schools. Markel also supports workforce development programs like the high school work-study internships at Cristo Rey High School in Richmond, Virginia, and Partnership for the Future, a Richmond-based equitable college access program co-founded by former Markel Chairman and Chief Executive Officer Alan Kirshner.”
College program structure
For the US version of Markel’s summer internship program, each functional area hosts one or more interns for 12 full-time work weeks. The interns are assigned daily work responsibilities similar to that of a full-time, entry-level Markel employee. In addition to the daily work assignments, the program supplements the student’s understanding of the Insurance industry with a series of educational presentations. Leaders from each of the company’s functional areas present a one-hour overview of their department. They review how their work supports what Markel does and explain how their functional area fits into the company’s overall operations. This educational series also builds awareness of different career opportunities at Markel.
Along with performing entry-level work, and learning about the company functions, interns undertake a small-group research project during the summer. These team projects allow interns to work collaboratively with each other to gather actionable research and data for use by Markel. Interns are sometimes the only intern in their department, so the small-group project creates an opportunity for them to connect with each other across various departments.
As an example, recent intern research project assignments included topics identified as emerging risks in the insurance industry. Teams of interns from different departments worked together to gather data and research on the identified risks and presented their findings to functional leaders. This information will help inform company decisions on how to address these potential risks in the future. It also allows the interns an opportunity to practice their public speaking and presentation skills in a real-world professional setting.
Learning the Markel Style
The learning opportunities in Markel’s summer internship program extend beyond department assignments, educational sessions, and research projects. Interns become familiar with the Markel Style, the company’s corporate compass.
The Markel Style is then translated into action through a personal branding session and intern volunteer opportunities. Personal branding encourages interns to incorporate elements of the Markel Style into their everyday behaviors to help them build their own brand. Volunteering gives interns a first-hand experience of Markel’s commitment to the community. Volunteering is yet another way for interns to connect with each other and serve their community, together.
Mentor buddies
Interns also have a support system in the form of a mentor buddy. A current Markel employee—often within the host department—connects with an intern regularly throughout the summer. The interns enjoy having someone in addition to their supervisor to speak with, especially about their experience with Markel. A mentor buddy also gives them another perspective of different roles within Markel and encourages socialization with other employees.
“My mentor played a pivotal role in my transition to going full-time at Markel,” said Maggie Phipps, Senior Internal Auditor at Markel, and an intern during the summer 2021 program. “I could ask her any question–whether it was related specifically to Markel or advice on starting a career as a young woman in finance. I really value my relationship with my mentor. She is an amazing role model who is always willing to help me in any way possible. I have looked up to her ever since starting the internship and have been lucky to work with her since.”
For many interns, though, the executive lunch is the highlight of their summer. Interns meet in small groups for lunch with members of Markel’s executive leadership team. Interns can use individual face time with Markel executives to learn more about their career journeys. Markel’s executives equally benefit from the lunch, using the time to share their wisdom on the future workforce and get the interns’ thoughts on Markel’s business operations and observed culture.
“As members of Markel’s executive team, we all enjoy the opportunity to spend time with our interns while they are with Markel,” said Sue Davies, Markel’s Chief Human Resources Officer. “We learn about their experiences and answer questions they have about our business, our culture, and our careers. In addition to our providing information to the interns, these interactions are a form of reverse mentoring and a valuable chance to hear the students’ perspectives. By bringing fresh and diverse pairs of eyes to our business, the interns can offer helpful insights.”
Performance reviews
To track their progress during the program, an intern receives two performance reviews. First, an informal review at the program’s midpoint serves as a check-in to see how well the intern is progressing and assess their level of understanding of the expectations of their role. The final review is a written formal review which helps the intern understand their strengths and opportunities and helps Markel consider the interns for future employment with the organization.
“The summer program is basically a 12-week interview,” Mary Allen explained. “At the end of the program, we may want to offer a rising college senior a full-time opportunity at Markel following their graduation. The performance appraisals help us to determine the right fit.”
From intern to full-time employee
After their summer internships at Markel end, interns are often offered part-time roles with Markel during the school year or return the following summer for another internship in the same department or in a different department. Other interns, however, receive a more enticing opportunity: full-time employment at Markel upon graduating from college.
A recent intern observed, “It can be nerve-racking finding the right place to start your career. However, the Markel internship made the choice much less stressful. I knew I would be working in a supportive environment where my team would help me learn, grow, and succeed. Markel is special in that it is a place where people want to build each other up, emulating the Markel Style along the way.”
The conversion rate of summer interns to full-time employees has risen each year. In particular, the Information Technology department has experienced significant success in gaining full-time employees through the summer internship program.
“The market for tech talent is highly competitive, and we’ve been fortunate in recent years to have many former interns accept permanent roles at Markel,” said Lloyd Scholz, Senior Managing Director/CTO. “Through the summer internship program, we work hard to provide real-world experiences to students exploring potential careers in technology. Just in the last year, two former interns joined the software engineering and business systems analyst teams. I look forward to seeing what opportunities the future years bring.”
“We would like to see our successful summer interns become future employees and embrace the Markel Style in their everyday lives,” Mary Allen said. “We want them to walk away knowing not only about the great career opportunities that the insurance industry offers, but specifically what a great employer Markel is—and to encourage their classmates to apply.”
In the spirit of the Markel Style, program stakeholders are constantly finding a better way to improve the summer internship for future participants. The program is tweaked each year through formal survey feedback from interns, supervisors and mentors. This feedback—along with national recruiting events and Markel’s growing relationships with diverse colleges and universities—helps ensure that the summer internship program continues to be a valuable pipeline for Markel Early Careers talent.
To learn more about Markel’s internship opportunities, visit the US early careers page.