This year, the BA (Hons) Business Studies students were tasked with imagining they work for the product development department of a large insurance company to develop innovative insurance products for agricultural sector. It was a group project and each person had a specific role and responsibilities, such as Marketing Director, Market Research Assistant, Product Manager, Pricing Analyst, Brand Consultant and PR Executive. The exercise provides a ‘real life’ experience to the students.

Each of the 16 marketing seminar groups delivered a 30 minute presentation to launch the product to unit tutors and members of the Chartered Insurance Institute (CII). The winning group called their Insurance firm ‘Pinnacle Insurance’. Their proposed new product is a comprehensive and versatile agricultural insurance product which offers basic cover as well as specified cover that can be selected by the farmer(s) depending on their insurance needs or risks that they are prone to. The product targets livestock farmers.

The Insurance Institute of Bournemouth sponsors this project by awarding a £1000 prize for the best group. This, in part, is undertaken as part of the CII’s talent campaign and raising awareness of the opportunities the insurance sector presents to graduates. Alan Boyce, President of the Insurance Institute of Bournemouth, is seen here presenting the cheque to Samuel Woodhouse, the ‘Marketing Director’ of the winning team. This is in the presence of the unit tutors: Dr Isaac Ngugi, Helen O’Sullivan and Musarskaya, as well as the members of the winning seminar group.

Originally posted on the Business School Blog.