Online Event - Understanding behavioural economics to supercharge client retention and sales outcomes

The Insurance Institute of Cardiff invite you to a webinar on; Understanding behavioural economics to supercharge client retention and sales outcomes

Event Details:

Monday 12^th October 2026 13:00 – 14:00pm

The webinar will be run via Zoom, a global web-conferencing solution. Zoom is easy to use, a link and joining instructions will be sent to you at the time of booking.

About the session:

We might think that our clients make rational, logical buying decisions, but the truth is that the human brain uses mental shortcuts, known as heuristics, to make sense of complex decisions. Whilst these short cuts aid speed of decision making, the results are often irrational. This session will allow delegates to not only understand these heuristics and cognitive biases, but also to develop the skills and strategies that are essential if we want to influence buying behaviour in the real world, not just in theory

Learning and Content:

• Introduction and context – why behavioural economics matters for insurance professionals
• Core biases in organisational decision-making. To include:
  • Anchoring o Framing
  • Prospect Theory to include Loss Aversion
  • Status quo bias
  • Social proof
  • The endowment effect o The sunk cost fallacy
  • Reciprocity
• Application to client and prospect strategy to include diagnostic discovery questions, framing strategies, choice architecture

Learning objectives:

Following this presentation the delegates will be able to:

• Identify the top cognitive biases that affect organisational insurance buyers
• Understand the impact of these on decision making
• Implement targeted strategies and framing techniques to mitigate bias-driven challenges

About the speaker:

The Course will be run by Nick Thomas.

Nick offers a unique combination of skills in the UK insurance training sector – an industry sales specialist and a widely qualified professional coach and trainer. Nick is an Economics graduate with over 25 years corporate insurance broking experience. He was a highly successful sales producer in the UK broking market before progressing into regional and then national sales leadership roles. As National Development Director at HSBC, Nick was one of only 40 people from a global workforce of 265,000 selected as part of the STARS programme to recognise exceptional performance. He is a highly trained consultative sales specialist, and his experience includes a secondment with a major management consultant to design a best practice sales process.

In the mid-2000s, Nick developed a chronic health condition; his journey to recovery fostered a new range of interests, and a passion for health, and performance. He studied widely, qualifying as a Master Practitioner in Neuro-Linguistic Programming (NLP), obtaining a Diploma in Life Coaching, before going on to study Corporate/Business Coaching with The Coaching Academy. He is also a qualified Holistic Lifestyle Coach and Advanced Exercise Coach. Nick has worked in a self-employed capacity in training, coaching, and consulting since 2017, including as a specialist adviser in Insurance sector M&A (Mergers & Acquisitions) sector. He set up Nick Thomas & Associates in 2020 in response to demand from his industry network for training solutions designed and delivered by people with a background of working in the industry James has 30 years’ experience in the insurance industry and brings a wealth of claims expertise to HCL. Having spent 20 years at Marsh Ltd, one of the world’s largest brokers, James has worked with a diverse client base from SMEs to some of the most notable FTSE 250 global businesses.

Further information:

A link will be sent via your email address supplied at the time of booking. PLEASE DO NOT share this with anyone else.

Please note that this webinar will be hosted on the Zoom platform which may be restricted by some employers. Members may need to utilise their own personal devices in these circumstances to access the platform.

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