Substantial work has been undertaken in the field of behavioural finance to explore the psychological factors affecting investment decisions made by individuals. In contrast, “behavioural” factors (such as politics or human psychology) affecting decisions and actions made by institutional investors, such as insurers or pension schemes, are less understood. The IFoA has commissioned research into how institutional investors make investment decisions which will be completed by early 2019. This could be significant for investment committees of insurance companies and pension schemes.
Behavioural Economics has been at the forefront of the FCA’s approach to regulation since its formation in April 2014. Therefore it should be on the radar of every FCA regulated firm. The consequences of behavioural economics being part of the FCA’s tool kit are far-reaching and an important area for NEDs and senior executives to consider. Areas for discussion include:
- product design, marketing, and customer service - fair and unfair practices
- staff and management behaviour
- board decision making
This event could be significant for product design teams, investment committees of insurance companies and pension schemes, and of course NEDs and Boards.
This event will have three segments followed by general Q&A and discussion.
- Kathy Byrne will introduce the history and current status of actuaries’ exploration of behavioural influences on decision-making, particularly by customers
- Stephen Davidson will introduce ‘Better Boards’ research commissioned by Aon on how boards – of companies or pension trustees or other – can take advantage of behavioural awareness to make better decisions.
- Finally, Leo Cohen will explain the methodology and conclusions of a major research project supported by the IFoA and Aon on behavioural influences on investment decision-making.
Programme to be announced soon.
Staple Inn Hall, High Holborn, London, WC1V 7QJ
Nearest Public Transport
Chancery Lane Station