Maura Feddersen, Behavioural Economist at Swiss Re, talks with 'FP&A Today' on the science of forecasting and how new methods can be used to overcome cognitive #biases and improved accuracy by 5%. Listen to her #podcast 👉https://t.co/wSrsTsYfO9 #BehaviouralEconomics@datarails
Organisations are increasing investments in the scaling of best practices for strong expert #judgement backed by #training and #technology. Find out more here: https://t.co/uUUoGpNjyD
Intern opportunity at iptiQ if you'd like to work on business challenges related to digital experiences and are a strong qualitative researcher: https://t.co/dXwhOopaeH
“Behavioural economists place humans at the centre of product development, sales, or any part of the insurance value chain."
We talked to @MauraFeddersen from @SwissRe about behavioural economics, underwriting, and how science can back expert judgement.
https://t.co/WMihvL0ys1
We can only approach an objective #truth through #debate. We can make up for our own reasoning errors through the collective, if we engage critically with others and learn from other viewpoints ~ @sapinker@dilipsoman@UofT_BEAR#rationality
As a result, @SwissRe Institute recently identified "Ethics in digital nudging" as an emerging trend that could become relevant for the re/insurance industry more widely. Have a look here for more: https://t.co/ZlAtyG5LA4 3/3
In 2019, a British online travel retailer made headlines when customers complained that the checkout process was so confusing, they inadvertently bought travel cancellation #insurance that they did not want. 1/3
At my doorstep this morning my most anticipated #behaviouraleconomics book in months! It's not just #bias, but also #noise (unwanted fluctuations in human judgement) that cause problems! Keen to get all the details from Daniel Kahneman, @SibOliv and @CassSunstein 🤓📖
Decision hygiene, a structure for developing our judgements, is not a straitjacket. It gives us scope to do more than to say 'yes' or 'no' to what the person before us said. It encourages us to go deeper and consider the 'why'. This only enhances our agency. ~ @CassSunstein
Algorithms are still far from ruling our lives, so our own human judgement still matters. With 'decision hygiene', we can address the sources of error in judgement. Think hand washing, but for #decision making ~ @SibOliv@CassSunstein@kahneman_daniel#noise
Diversity of viewpoints can only surface in decisions when our judgements are derived independently of one another. In this way, our tendency to conform does not inadvertently suppress #diversity ~ @kahneman_daniel#noise#behaviouraleconomics
A hospital where 1/2 of doctors over-diagnose & 1/2 under-diagnose is a 'noisy' hospital. On average, it might look ok, but many patients are subject to intrusive, expensive treatments. Others are at risk of death. Noise, not just bias, is an issue in our judgement @CassSunstein
2-3% of GDP, not just 0.4% of GDP according to current estimates, must be invested in #green#tech to stave off devastating #climate change. Many projects can and must begin now, even in a Covid-19 world ~ Robert Pollin on Intelligence Squared #iq2@intelligence2