Property/casualty insurers, whether they know it or not, are well-schooled in behavioral economics.
We used to intuitively understand business success was about customer relationships and driving a desired behavior based on a trust built up over time. We just had no way of turning those engagements into data to analyze and leverage.Executive SummaryIn this introductory article of a three-part series, Andy Clapson, Data Science Lead of Slice Labs, presents behavioral science as a discipline that the best insurance agents and carriers are already practicing. The challenge is to harness what they know—and what behavioral scientists teach—and to scale it across the enterprise.