behavioral economics Archives - Carrier Management

Who Do You Trust? When Behavioral Science Fails

Late last week, I was reviewing my Twitter feed and came across a tweet that made no sense to me. While it's a common occurrence for me to be baffled by Twitter exchanges, this particular tweet ...

Supporting Underwriting, Claims Decisions With the Science of Behavioral Economics

Successful insurance product administration requires consistent, accurate decisions from the evaluation of submissions at underwriting to the adjudication of claims. Effective decision operations are ...

Using Behavioral Economics to Improve P/C Insurance Outcomes

The sensors in your house track your habits and convey them to your insurer, who underwrites your homeowners policy. A customer signs an "honesty pledge" and then reports a claim to the insurer. ...

How Insurance Executives Can Harness the Power of Behavioral Economics

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 ...

Lemonade Secures $120M in New Financing to Fuel Global Expansion

Digital insurer Lemonade Inc. announced a $120 million Series C funding round it will use to help accelerate a global expansion in 2018. SoftBank Group led the round, joined by existing investors ...

Are Multiyear Policies the Answer For Flood? Behavioral Economics Meets Insurance

Buyers and sellers of flood insurance can benefit from a longer-term perspective, and long-term multiyear policies may be the key to reforming the current system, a Wharton School professor said last ...