Behavioral Science
  • Articles
  • September 2023
  • 5 minutes

How Consumers Experience Risk Can Influence Insurance Decisions

Woman at table making a decision
In Brief
Behavioral science shows an individual’s feelings toward risk are useful and often beneficial in decision-making. In this article from Best's Review, RGA's Matt Battersby explains how taking emotions into account is vital to the future of insurance sales. 

Every generation has a public health campaign that had a powerful emotional impact. For me, it was the 1980s' "AIDS: Don't Die of Ignorance," the U.K. government's movement. For other generations, it might have been the antismoking "Tips from Former Smokers," in the early 2010s by the Centers for Disease Control and Prevention in the U.S. It's likely that today's children from across the world will vividly remember decades from now the COVID-19 campaign imploring people to wash their hands, wear masks, and stay home.

In an article published in Best’s Review, RGA behavioral scientist Matt Battersby explores the influence of emotions on choices and how a better understanding of this concept could help close the life insurance protection gap. Read the article.

©A.M.Best – used with permission.

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Meet the Authors & Experts

Matt Battersby
Vice President, Chief Behavioural Scientist, Risk and Behavioral Science