Modeling and Analytics Graduate Network (MAGNet) Intern

Job Description

Modeling and Analytics Graduate Network (MAGNet) Intern | State Farm Insurance Companies

The Tone:
This is a multi-semester internship at State Farm Insurance Companies, located in a hybrid capacity in Champaign, IL. State Farm is a Fortune 50 company that provides insurance and financial services. This role is specifically designed to prepare graduate students for a full-time data science position by applying their predictive modeling and analytical skills to a variety of real-world data science problems across the company. Interns collaborate with experienced professionals, contribute to meaningful projects, and make a real impact on the company’s operations.

The TL;DR
• Role: Internship
• Type: Multi-semester (part-time during academic semesters, full-time during summer)
• Location: Hybrid, Champaign, IL
• Pay: $36 hourly
• Mission: To prepare graduate students for full-time data science positions at State Farm by augmenting their theoretical coursework with practical application of predictive modeling and analytical skills.
• Tech Stack: Python, SAS, R, statistical modeling, data mining, data analysis, database tools

What You’ll Actually Do
• Pricing and Underwriting: Apply predictive modeling to assess and manage risk in pricing and underwriting.
• Claims Automation: Develop and implement predictive models to automate and improve claims processes.
• Sales/Growth Forecasting: Utilize econometric and predictive modeling to forecast sales and growth trends.
• Data Mining: Conduct data mining for applications in claims and competitive analysis.
• Method Evaluation: Evaluate new statistical methods and tools for potential adoption by State Farm data scientists.

The Must-Haves
• Background: Accepted or currently enrolled in an approved in-person Graduate program at the University of Illinois – Urbana-Champaign in a highly quantitative discipline such as Statistics, Mathematics, Computer Science, Economics, Actuarial Science, or Data Science.
• Experience: Planning to graduate between May 2027 and May 2028 (meaning 3-6 semesters remaining in graduate program, including summer); experience with statistical modeling and/or data mining, data analysis and database tools, and computer programming.
• Skills: Statistical modeling, data mining, data analysis, database tools, computer programming (specifically Python, SAS, or R), and communicating and presenting technical work.