Five ISU Scott College of Business student teams had the opportunity to share their ideas with a global insurance provider in a Business Plan Competition hosted by Clements Worldwide.
During the last two months, teams of 2-4 students researched and developed ideas for a new product, service, or solution for the insurance and risk management industry, and on Feb. 4, presented them via Zoom to Clements Worldwide President and CEO Tarun Chopra and a team of Clements Worldwide judges.
“If we have to prepare for the next decade, we better hear the ideas and expectations of the students and transform our business accordingly,” Chopra said. “Indiana State University has a robust risk management program, and the students are really exceptional. The presentations were thorough, informative, and inspirational.”
The winning team was awarded a $2,500 prize and the second-place team was awarded a $1,500 prize. The title of the winning team’s presentation was Breaking the Insurance Barrier: Developing the Clements Worldwide App. The team members were Julia Sonntag, Sophomore, Insurance and Risk Management major; Jillian Turner, Freshman, Insurance and Risk Management major; Hailey Tonsor, Sophomore, Marketing major; Grace Longyear, Freshman, Marketing major.
“The Clements Worldwide Competition was a wonderful opportunity that provided unique hands-on experience,” Sonntag said. “The competition allowed us to utilize creativity and classroom knowledge to find a solution to an ongoing problem facing the insurance industry.”
Anne Bowen, Senior, Insurance and Risk Management major and Noah Heim, Senior, Insurance and Risk Management major placed second with their presentation, Clements Worldwide University: Building the Insurance Talent Pipeline.
“Having a partner like Clements Worldwide, who is interested in hearing from students and promoting experiential learning opportunities, is a fantastic relationship for us to have,” Heim said. “These types of experiences have been priceless to my development as a professional and will continue to be critical in helping future Sycamores develop their skills.”
Clements Worldwide is a trusted provider of international insurance for expats, diplomats, and organizations in over 170 countries. For more than seven decades, Clements Worldwide has enabled millions of people to live and work anywhere in the world. Headquartered in Washington, D.C., Clements has a global presence with office locations in London, Amsterdam, Brussels, and Dubai.