Intern - Strategic Resources - MAGNet Intern

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About this Job

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.
Students who are interested in participating in MAGNet are encouraged to apply as soon as they are accepted into an applicable graduate program at the University of Illinois. Most MAGNet interns are in a Statistics Department graduate program, but graduate students in other highly quantitative disciplines may also be considered. Students whose graduate program begins in the fall are encouraged to begin their MAGNet internships during the preceding summer.
While participating in the MAGNet program, students are evaluated and given consideration for full time post-graduate employment at State Farm’s corporate offices in Bloomington, Illinois, Atlanta, Georgia, Dallas, Texas, or Champaign, Illinois

Key Responsibilities 

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

Desired Knowledge, Skills, Abilities

  • Applicants must be accepted or currently enrolled in an approved graduate program at UIUC
  • Majors: Statistics, Mathematics, Computer Science, Data Science, Finance, Economics, Actuarial Science
  • Statistical modeling and/or data mining
  • Data analysis and experience with database tools
  • Computer programming (especially SAS, R, or Python)Communication and presentation skills

Hours and Compensation 

During the academic year, MAGNet interns work 20 hours per week, but schedules are flexible. During the summer, interns work full time. 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. '


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