The executive summary should be in the format of a “press release” announcing the

launch of the innovative offering. This press release should be in Zurich BT font size 12
and not exceed 1000 words. It should contain the following: Trying to facilitiate the
completion of education

We will be reimbursing the amount depending on the amount invested.

 Parents & Children (Class 10th, 12th, Grad, MBA,Post graduation, professional
examination, competition exams)
 Body:
 Provide a summary of the listed benefits of the offering.

. Ensuring a financial coverage in case of loss.

Background decides premium

AI enabled evaluation of study and counselling on need basis & improvement remarks.

Counselor access discount 10%

 What customer problem/need does the offering solve?

 Competitive exams taking more than once. Opportunity cost involving
unemployment
 So, this kind of helps to recuperate the damages made. Only cost related to
tution fees.
 How does the proposed idea solve the problem/need?
 It helps to keep check and balance in the progress of education for parents and
kind of recuperate damages made for year loss.
 What are the enablers that helped create the offering (e.g. technology,
partnerships, etc.)?

Education Counsellors, Artificial Intelligence, Legal Consultants, Actuarial Consultants

(Determining the premium)

 Describe in brief a summary of the competitive advantage that it provides over

existing offerings
 Innovative & no existing competitors.
 A quote from the customer/channel
 With us being working professionals and cost of education being so much. It
really becomes difficult to repeat the entire year, so it came as an oasis to us.
 A quote from senior management of the organization
 This initiative was taken to cater to the latent demand for insurance in the
education, and lend an olive branch to the parents and students to relieve from financial distress.
 Estimates for size impacted (market size, no of customers, etc.) due to the new
offering
 Market size : $ 20 millions
 No of customers : 30,000
 Expected Revenue: $10 millions
 “GyanBima”

A revolutionary insurance product to provide cover on exam failures

ABC Company, 14TH July 2019

Today is the time when the conventional & traditional insurance policies & mode of selling
are being challenged and redesigned. Insurance is often said to be a push product which needs
to be sold imaginatively. Hence, the need of the hour is to accommodate different issues of
the modern being under the ambit of insurance cover. Thinking on the similar line’s ABC
Company has come up with a revolutionary solution “GyanBima” to cater to the parents &
students facing financial distress because of exam failures or course repetitions.

As per our CEO Mr Raj Sharma, “This initiative was taken to deliver on the latent demand
for insurance in the field of education. The core intention being to lend an olive branch to the
parents & students suffering from financial distress and also fostering the goal of education
& development for all”

Talking a bit more on the target segment; our intended target segment comprise of the parents
and students preparing/appearing for Class 10th, 12th, graduation, postgraduation and other
certifications exams like CFA etc. Let’s explore a bit on the current student debt crisis in
global scale; As per Center of Responsible Lending student loan debt has topped $1.5 trillion
in recent years, making it the largest type of consumer debt other than mortgages. The
average student loan borrower graduates with nearly $30,000 in debt. Just think of a situation
when a student fails or has to repeat a course, there is now again a huge addition to the debt
amount. It can be really devastating and lead to financial distress for the students and parents.
This is the latent gap which the company identified and tried to devise a strategy to remediate
it.

This is not just be a regular insurance offering which would provide

cover in case the student fails or repeats a year. Along with the cover benefits you receive an
insight to the timely progress of the students learning, using an Artificial Intelligence
assistant, which helps derive useful insights and customized suggestions depending on the
student background and past education records. This is also be fed with regular updates on
students’ performance and is equipped to raise corresponding red flags in case of data
abnormality or consistent low performance. These flags would help the parents to personally
counsel the child or reach out to us for further consultation. The firm would then try to assign
external education consultants on a small discounted premium.
Speaking about the monthly premium which would be charged to the customers; there is a
sophisticated algorithm in the backend which decides this. But putting it in lucid terms there
are gamut of attributes which are considered for a particular client like past education details,
student background, parents’ financial conditions to name a few. Also, the main objective of
the company here is to recuperate for the financial damages caused to due to the uncertainty
of a student’s performance. Though in case of repeating a course or year the company intends
to cover only the expenses related to the tuition or academic fees. The costs associated with
food, accommodation etc. would have to be borne by the students or the parents.

A modern family setting today tends to have working mother and father. Hence, there are
challenges involved in devoting considerable time to overlook and supervise the child’s
education. A trivial solution to this is thought to be personal tuitions. But, many a times even
this fails to yield considerable results. So,how does the proposed solution actually work ? The
established infrastructure & process would help maintain a check and balance framework to
evaluate performance, provide counselling, and give an insurance cover. Adding to this the
company has its army of external actuarial analyst, AI experts, legal consultants, & education
counsellors who would add value with their advice on key matters.