WEBINAR: Behavioural Biases in the Insurance Customer Journey
How to identify and handle them to avoid customer harm
This FCA stated in the Final Guidance to the new Consumer Duty that firms need to take account of how customers “transact in the real world”. Therefore, being able to identify and handle customer´s behavioural biases, as well as our own behavioural biases and biases embedded in product design and marketing, is key to avoiding potential customer harm.
The FCA has also placed group think bias at the heart of their consultation on diversity and inclusion. But what is this and can it impact how financial advisers provide services to their clients?
This 1 hour webinar will introduce you to the most common, though often difficult to spot, behavioural biases that can be encountered throughout the customer journey in insurance, from product design to claims settlement, as well as tips on how to handle them to avoid customer harm.
Learning Outcomes
By the end of the session, participants will be able to:
- Identify behavioural biases that occur throughout the customer journey from product design to claims settlement.
- Explain how these behavioural biases impact the decisions that customers make.
- Implement a strategy to minimise the risk of behavioural biases resulting in customer harm.
Speaker
Jeff has been invaluable in helping the Perth and Dundee Institute deliver quality and relevant training to our members and this session is no different.
With a portfolio of international clients from across Asia Pacific, Europe and sub-Saharan Africa, Jeff has vast experience in delivering practical training based around his in-depth knowledge and practical experience.
A former litigation executive and a former senior liability adjuster, he has a bachelors and master’s degree in law, is a qualified language teacher, a graduate of the Yale University School of Management Executive Education program and he is a member of the Academy of Modern Applied Psychology and the Association for Business Psychology.
Jeff has particular experience in providing training and consultancy to insurance and financial services organisations based around the synergy between product design, brand promises, marketing messages and customer expectations
Venue
- Online
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.