The flight instructor, seated in the right seat, and the tailwheel-endorsed pilot receiving instruction, seated in the left seat, were conducting an instructional flight in the pilot’s recently purchased, tailwheel-equipped, airplane. The purpose of the flight was for the pilot receiving instruction to gain operational experience in the airplane to satisfy insurance requirements. The pilot receiving instruction reported that, while performing a three-point landing, she bounced during the initial touchdown and, after settling back onto the runway, subsequently lost directional control of the airplane. Both the pilot receiving instruction and the flight instructor attempted to recover; however, the airplane ground looped, which resulted in substantial damage to the right wing and elevator. The pilot receiving instruction reported that there were no pre-accident mechanical failures or malfunctions with the airplane that would have precluded normal operation.