Week 1 Task: Market Research and Consumer Behavior Analysis:

The objective of this task is to conduct a detailed market research and analyze consumer behavior in the insurance sector. You are expected to create a comprehensive report detailing your findings. The report should include sections on market trends, consumer preferences, and potential growth areas in the insurance sector. Use publicly available data sources to gather information. In your analysis, include demographic data, buying preferences, reasons for purchasing insurance and customer satisfaction levels. The deliverable for this task is a DOC file containing your report. The report should be approximately 3000 words, and include graphs, charts and infographics to support your findings. Evaluation will be based on the depth of research, analysis, and the clarity in communication of your findings.

Week 2 Task: Competitor Analysis:

This week's task is focused on analyzing the competition in the insurance industry. Your objective is to identify our top five competitors, and analyze their strengths, weaknesses, opportunities, and threats (SWOT analysis). Also, analyze their product offerings, pricing strategies, marketing tactics, and customer service quality. The deliverable for this task is a DOC file containing a detailed competitor analysis report. This report should be approximately 3000 words. Include a separate SWOT analysis for each competitor. Use publicly available data and competitor websites for reference. Evaluation will be based on the completeness of the SWOT analysis, the depth of understanding of the competitors’ strategies, and the clarity of your report.

Week 3 Task: Customer Journey Mapping:

This task involves creating a detailed customer journey map for an insurance consumer from the initial research phase to the purchase. Identify the key touchpoints, interactions, and pain points customers might experience. The objective is to understand and improve the customer experience. The deliverable for this task is a DOC file containing a detailed description of the customer journey map along with a visual representation if possible. Use publicly available data and customer reviews for reference. The document should be approximately 3000 words, and include key insights and recommendations for improvement. Evaluation will be based on the comprehensiveness of the journey map, the quality of insights gathered, and the feasibility of the recommendations.

Week 4 Task: Insurance Product Proposal:

For this final task, based on the insights gathered from the previous tasks, design a proposal for a new insurance product that caters to an unmet need in the market. The proposal should include the following sections: target audience, product features, pricing strategy, and marketing strategy. The objective of this task is to apply your understanding of the market and customers to create a valuable product. The deliverable for this task is a DOC file containing the detailed product proposal. The document should be approximately 3000 words. Evaluation will be based on the originality of the product idea, the feasibility of the proposal, and how well it addresses the identified market need.