How behavioural science is helping improve the way we do insurance

Our Behavioural Research Unit exists to better understand the true drivers of consumer behaviour, so that we can help our clients optimise interactions with their customers.

William Trump, Customer Behaviour Consultant, giving an introduction to behavioural economics at Swiss Re

Behavioural Economics teaches us that customers are not the fully rational people that we (and they) often think they are. Instead, we are all affected by contextual factors that may seem irrelevant and go beyond the content of a message. Our team, together with leading academics, uses a rigorous test and learn approach to help our clients create tangible improvements in all areas of their value chain.

We have now delivered more than 100 trial results with insurers in more than 30 countries and along the way we’ve learned a lot about what drives things like purchase, retention, and non-disclosure at both the application and claims stage.

Here are just a few findings from our scientific trials. They are not always what you’d expect!

How can we work together?

Are you keen to explore how Behavioural Economics could be applied to your work in customer interactions? Are you an academic with collaboration ideas? Are you interested in a career with our team?

Please contact us with any questions, interest, or thoughts for the Behavioural Research Unit.