Getting inside the consumer’s head: the importance of psychology in bridging the insurance gap

CII Introduction: Underinsurance in the UK continues to be a growing problem, with people’s inaction resulting in disastrous consequences for both individuals and society as a whole. One of the challenges is that while people may like the idea of insurance, few make the time to truly understand it—and its importance. In this Thinkpiece, Drs Henry Stott and Stian Reimers argue the way forward for modern insurance is to provide the necessary peace of mind through a better understanding of consumer psychology.[...]