S1 Ep. 13 - Behavioural bias for general insurers – red flags and more!

This week we talk to LCP’s behavioural science expert Zoe Burdo about the behavioural biases that general insurance boards face in typical strategic and management decisions. We look at how biases can impact firms’ judgements when making assumptions about the future and dealing with unknown unknowns. We explore questions including: • Anchoring, framing and over-confidence – how do these impact decision making in strategy, business planning and risk management? • What are the red flags to look out for when making decisions as a group? • How might biases impact attitudes to climate change and cyber risk?