Intern – MAGNet Program (Summer 2021)

Internship @State Farm posted 7 months ago

Job Description

We are not just offering a job but a meaningful career! Come join our passionate team!

As a Fortune 50 company, we hire the best employees to serve our customers, making us a leader in the insurance and financial services industry. State Farm embraces diversity and inclusion to ensure a workforce that is engaged, builds on the strengths and talents of all associates, and creates a Good Neighbor culture.

We offer competitive benefits and pay with the potential for an annual financial award based on both individual and enterprise performance. Our employees have an opportunity to participate in volunteer events within the community and engage in a learning culture. We offer programs to assist with tuition reimbursement, professional designations, employee development, wellness initiatives, and more!

Visit our Careers page for more information on our benefits, locations and the process of joining the State Farm team!


State Farm has developed a unique internship opportunity for graduate students at the University of Illinois at Urbana-Champaign – the Modeling and Analytics Graduate Network (MAGNet). MAGNet interns apply their statistical modeling and analytic skills to a wide variety of business problems faced by the State Farm organization.Most MAGNet interns are in the Statistics Department’s graduate program, but graduate students in other highly quantitative disciplines may also be considered. While participating in the MAGNet program, students are evaluated and given consideration for full time post graduate employment at various State Farm locations: Bloomington, Illinois, Atlanta, GA, Dallas, TX or Champaign, IL.

MAGNet interns apply their predictive modeling and data analysis skills to a variety of data science problems, in many different lines of business and departments (e.g., marketing, insurance, and process optimization) including:

• Pricing and Underwriting Risk Predictive Modeling
• Claims Automation Predictive Modeling
• Sales/Growth Forecasting, Econometric and Predictive Modeling
• Data mining applications for Claims and Competitive Analysis
• Evaluating new statistical methods and tools for potential use by State Farm Data Scientists

Interns are assigned based to a wide variety of departments for experience, based on major and interest area. Majors considered:

• Statistics
• Mathematics
• Computer Science
• Finance
• Economics
• Actuarial Science
• Data Science


We Are Looking For The Following:

• Applicants must be accepted or currently enrolled in an approved Graduate program at University of Illinois – Urbana/Champaign
• Statistical modeling and/or data mining experience
• Data analysis and experience with database tools
• Computer programming (specifically SAS, R, or Python) skills
• Communication and presentations skills

What You Can Expect:

• During the summer, MAGNet interns will work 38.75 hours a week
• Internship duration: Summer 2021 semester 5/17/2021 to 8/6/2021
• Convenient on-campus location with easy access to Campus Shuttles
• Address: State Farm Research Center at the University of Illinois Research Park, 2001 South First St. (Suite 102), Champaign, IL 61820

What’s In It For You:

MAGNet is similar to a 50% graduate assistantship offered by the University and interns receive hourly pay comparable to that offered by the University for graduate assistants, as well as full tuition assistance for the duration of the internship. As with an assistantship, tuition costs are covered. Some State Farm benefits may also apply, including the following:

• Relaxed dress code
• Direct experience you can leverage for you future career
• An opportunity to learn and network with industry-leading influencers
• A Learning Environment: Mentoring and Development to help you succeed
• We love to give back! Being involved in volunteer opportunities to give back to the community
• A culture that embraces Diversity and Inclusion – it is simply the right thing to do!

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