Intern Data Science Insurance Jobs in Illinois (NOW HIRING)

Overview
As a State Farm intern, you will have the opportunity to collaborate with experienced professionals, contribute to meaningful projects, and make a real impact. Our internship program provides students with valuable training, mentorship, and networking opportunities while being fully immersed in the day-to-day operations of a Fortune 50 company. At State Farm, we believe our interns are the future of our company, and we are committed to helping you succeed!
The Modeling and Analytics Graduate Network (MAGNet) program is a unique multi-semester internship opportunity designed to prepare graduate students for a full-time data science position at State Farm. Throughout their time in the program, MAGNet interns apply their predictive modeling and analytical skills to a variety of data science problems to augment their theoretical coursework while also developing professionally.
It is not feasible to expose interns to the full variety of topics they need to be familiar with for full-time data science work in a single semester. As such, the MAGNet internship is designed to last the duration of an intern's graduate studies with renewal on a semester-by-semester basis. This means that while this position is hiring for the Fall 2026 semester, the intern may be invited to return for following semester(s), based on the intern's growth and progress relative to the internship's expectations. To continue in the MAGNet program, it is expected that an intern continues to renew their internship throughout their graduate program for the Spring, Summer, and Fall semesters as applicable. If you are looking for a summer or other short-term internship, MAGNet is not the right fit for you, but you may be interested in State Farm's summer internship programs.
Graduate students at the University of Illinois - Urbana-Champaign (UIUC) in highly quantitative disciplines are considered, with an emphasis on understanding of statistical techniques. While participating in the MAGNet program, students are evaluated and given consideration for full time, post-graduate employment at various State Farm locations: Atlanta, GA; Bloomington, IL; Dallas, TX; or Tempe, AZ. MAGNet interns are expected to remain in good academic standing and continue to make significant progress towards their degree during academic semesters.
What's In It For You:
MAGNet is similar to a 50% graduate assistantship offered by the university. It is a multi-semester program with renewal on a semester-by-semester basis. 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. Some State Farm benefits may also apply, including the following:

• 401k retirement plan
• Medical, dental, and vision insurance
• Paid time off, including specific leave for community service

Please note: This is a hybrid internship in Champaign, IL and relocation assistance is not offered.
Grow Your Skills, Grow Your Potential
Responsibilities
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
What You Can Expect:

• Logistics:
  • During Spring and Fall Semesters, MAGNet interns work 20 hours a week
  • During Summer Semester, MAGNet interns work 38.75 hours a week
  • Pay: $36/hour
  • Duration: 8/24/2026 to 12/10/2026
  • Location: This is a hybrid internship. Interns will spend part of their time working from home and will spend several days a week working from the office, which is in University of Illinois Research Park.

• Experience:
  • Direct experience you can leverage for your future career
  • An opportunity to learn and network with industry-leading influencers
  • A learning environment: mentoring and development to help you succeed
  • A culture that embraces Diversity and Inclusion

Qualifications
We Are Looking For:

• Applicants must be accepted or currently enrolled in an approved in-person Graduate program at University of Illinois - Urbana-Champaign:
  • Statistics
  • Mathematics
  • Computer Science
  • Economics
  • Actuarial Science
  • Data Science
• Applicants with 3-6 semesters (including summer) remaining in their graduate program (i.e. are planning to graduate between Aug 2027 and Aug 2028)
• Applicants with experience in:
  • Statistical modeling and/or data mining
  • Data analysis and database tools
  • Computer programming (specifically Python, SAS, or R)
  • Communicating and presenting technical work
• Candidates must be available to work a hybrid position (part in office, part work from home), and come into the Champaign office on a weekly basis.

Students must remain in good academic standing and continue to make significant progress towards their degree during academic semesters.
*****Applicants must include on their resume the following information regarding their program at the time of the internship:

• Graduate University
• Graduate program, including whether it is in person or online
• Expected graduation date (month, year)

Failure to include this information may result in automatic rejection.
NOTE: Candidates may only interview with one of the MAGNet programs (ASU, UGA, Georgia Tech, UIUC) each semester.*****
*****Applicants are required to be eligible to lawfully work in the U.S. immediately; employer will not sponsor applicants for U.S. work authorization (e.g. H-1B visa) for this opportunity*****
Our Benefits
MAGNet is similar to a 50% graduate assistantship offered by the University. 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.
At State Farm, we offer more than just a paycheck. Check out our suite of benefits designed to give you the flexibility you need to take care of you and your family!
• Get Paid! On top of our competitive pay, you are eligible for an annual raise and bonus.
• Stay Well! Focus on you and your family's health with our robust health and wellbeing programs. State Farm pays most of your healthcare premium, and we offer multiple healthcare plan options, including a high deductible plan. All medical plans provide 100% coverage for in-network preventative care, AND you and your family have access to vision, dental, telemedicine, 24/7 mental health professionals, and much more!
• Develop and Grow! Take advantage of educational benefits like industry leading training programs, top-notch tuition assistance programs, employee resource groups, and mentoring.
• Plan Ahead! Plan for those big moments in life with benefits like fertility/IVF/adoption assistance, college coaching, national discount programs, interactive monthly financial workshops, free financial coaching, and more. You can also start a savings account or consider financing through our State Farm Federal Credit Union!
• Take a Little "You" Time! You will have access to our generous time off policies designed so you can plan around holidays, family events, volunteering, or just to take a relaxing day off. With the opportunity to initially earn up to 20 days annually plus parental leave, paid holidays, celebration day, life leave (40 hours/year), bereavement leave, and community service/education support days, there will be plenty of time for you!
• Give Back! We offer several ways to give back through our Matching Gift Program, Good Neighbor Grant Program, and the Employee Assistance Fund.
• Finish Strong! Plan for retirement using free financial advisors and a 401(k) plan with company contributions of up to 7% of your salary.
Visit our State Farm Careers page for more information on our benefits, locations, and the hiring process of joining the State Farm team!