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Behavioral economics (BE) draws from the fields of psychology and economics to better understand human behavior and decision-making.

To apply BE to insurance, you first need to understand BE. Gen Re clients now have the ability to complete professor-developed and -led training modules.

Online courses will leave attendees with a solid understanding of how BE can apply across all functional areas.

 

Training includes self-paced, interactive sessions in an easy-to-follow, concise format that fits into busy schedules.

Courses created for insurance professionals extend from basic to advanced.

 

Overview of the Gen Re Behavioral Economics Academy

 

The Value of BE

Low-cost to implement. Small changes can make a big difference.

For accelerated underwriting workflows, helps offset some of the lost protective value of fluids and paramedical testing.

Applies to a wide range of insurer needs and concerns: from encouraging greater condition disclosure to product promotion and website communications.

Benefits of the Online Platform

  • Online educational content tailored to the needs of insurance professionals
  • Option to take the more advanced courses depending on the interest
  • Self-paced content learning
  • Easily-managed access that also ensures privacy and confidentiality
  • Intuitive user interface that guides the participant through the learning journey – and allows stopping and starting again wherever the user left off
  • Progress shown via dashboard
  • Interactive quizzes included
  • Certificate of completion provided at the end of each course
  • Once all four modules are completed, a charitable contribution will be made by Gen Re on behalf of the attendee
  • Training program is exclusively for Gen Re clients
Combining simplification with nudging can significantly improve outcomes for insurers across operational areas.
Alpren_Heidi-WC

Heidi Alpren

Market Research VP

Implementing these important tools can help insurers in many ways, including developing effective question designs for insurance applications and personal history interviews, as well as improving website design and marketing.
Greenwood_Jim-WC_2018

Jim Greenwood

Head of Traditional Markets

Details matter. People don’t always think slowly and rationally, so we have to meet consumers where they are – full of biases, overloaded with information, and yet amenable to nudges and a well-framed offer.
jonathan-haughton

Jonathan Haughton, PhD

Professor & Chair, Economics, Suffolk University

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    Gen Re is ready to set up your attendees in basic or advanced Behavioral Economics Training.

    Let us know if you would like to schedule a presentation to see how the BE Academy works!

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