Study • Finance · Other
Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry’.
Kunreuther et al. (2012), ‘Insurance and Behavioral Economics: Improving Decisions in the Most Misunderstood Industry’.
Summary by Mark Egan
A nice, short document that identifies the behavioral biases of consumers, insurers, regulators & politicians in an American insurance context and recommends strategies to overcome them.
Tactics used
TACTICS
Education or Information
TACTICS
Reminders
TACTICS
Cues
TACTICS
& Triggers
TACTICS
Reduce Friction or Barriers
TACTICS
Feedback
TACTICS
Social Norms
TACTICS
Personalization
TACTICS
Reduce Cognitive Load
Behaviors addressed
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