Customer Decision Making
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.
CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.