Cognitive Skills
CUSTOMER THINKING AND PERCEPTION: WHAT PSYCHOLOGY AND BEHAVIOURAL ECONOMICS CAN TEACH US
ABOUT THE SESSION
Behavioural economics is an interdisciplinary science that helps us to understand human behaviour and decision-making patterns. It has played an increasingly important role in projects undertaken by the FCA. Behavioural economics gives us invaluable insights into how we can adapt the way we provide information, understand customer decision-making processes, shape the sales process (including the concept of nudging) and engage more effectively with potential or existing clients.
LEARNING OUTCOMES
By the end of the session, participants will be able to:
Identify the role behavioural economics can play in the insurance industry.
Understand the application of behavioural economics to decision-making and the sales process.
Apply the knowledge gained to implement a strategy for winning new business and retaining existing business.
Session Length: 1 hour