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State Farm Research Center at the University of Illinois

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State Farm Research Center at the University of Illinois State Farm Insurance Companies No. 1 US insurer of cars and homes 1 out of 5 cars is insured with State Farm ... – PowerPoint PPT presentation

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Title: State Farm Research Center at the University of Illinois


1
State Farm Research Center at the University of
Illinois
2
State Farm Insurance Companies
3
Industry Ranking
  • Ranked 31 within Fortune 500
  • Ranked 2 in Illinois (Boeing 1)
  • 1 US Auto insurer since 1942
  • 17.7 market share at end of 2005
  • Over 40 million Auto policies
  • 1 US Home insurer since 1964
  • 22.2 market share at end of 2005
  • Over 25 million Fire policies
  • Leading insurer of pleasure boats

4
About State Farm
  • No. 1 US insurer of cars and homes
  • 1 out of 5 cars is insured with State Farm
  • 76,000 employees and 17,000 agents
  • Products include
  • Personal/Commercial Property Insurance
  • Life and Health Insurance
  • Bank Products
  • Mutual Funds
  • Headquartered in Bloomington, IL

5
Zone Structure

6
State Farm Research Center

State Farm Research Center 2001 S. First
Street Champaign, IL
7
Research Center Purpose
  • Extend current research efforts
  • Collaborate with faculty and students
  • Create real-world educational opportunities

8
Partnering Departments
  • Property Casualty Actuarial
  • Responsible for pricing of insurance
  • Strategic Resources
  • Includes corporate research functions
  • Systems
  • Information Technology

9
The Space
  • On-Campus location in south Research Park

10
SFRC Staff
  • 13 full-time employees
  • 65 student interns Fall 07
  • Corporate affiliates

11
Academic Semester Internships
  • 10-15 hours/week
  • Flexible work hours
  • Pay starts at 14/hour
  • Easy campus access

12
Summer Semester Internships
  • Full-time
  • Competitive pay rates
  • Broader range of experiences
  • innovationRED project assignment
  • Speaker Series
  • Corporate Visits
  • SPEAK Program
  • Social Activities

13
Student Backgrounds
  • Actuarial Science
  • Statistics
  • Finance
  • Computer Science
  • Business
  • Economics
  • Speech Comm
  • etc.

14
Student Projects - SR
  • Consumer Research
  • Trends, Issues
  • Focus Groups
  • Competitor Research
  • Statistical Studies
  • Sales Forecasting
  • Text Mining
  • Dangerous Intersections
  • Partnering with other departments
  • Marketing
  • Ad Services

15
Student Projects - Actuarial
  • Ratemaking using GLM
  • Auto Competitive Analysis Tool
  • Prototype Household Predictive Model
  • Testing new modeling techniques
  • Dynamic Financial Analysis
  • Auto Territory Reviews

16
Student Projects Systems
  • Reports on New Technologies
  • Web Server
  • RFID
  • Network Capacity Models
  • Model-Based Testing
  • Security Research

17
To Apply
  • Send resumes to
  • SFRC_at_statefarm.com
  • Now recruiting for
  • Spring and summer internships

sfresearchcenter.com
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