Customer Decisions: what psychology and behavioural economics can teach us

Overview

Behavioural economics is an inter-disciplinary 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 Objectives

By the end of the session, participants will be able to:

• Identify the role behavioural economics can play in the insurance and financial services 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.

Speaker

Jeff Heasman is a leading international trainer and is recognised throughout the world for his work around soft skills within the insurance and financial services industries.

Jeff has delivered many public lectures on subjects such as the law of torts and plain language and has provided training in insurance law and practice to some of the world's largest and most prestigious organisations, as well as regularly providing seminars for the Chartered Insurance Institute (CII) and Chartered Institute for Securities and Investments (CISI).