Cognitive biases in advice and the psychology of insurance

We would all like to think we are inherently logical, practical and pragmatic. But the reality is that most of our decisions are at a non-conscious level; we don't really know why we make the decisions that we make. This is where behavioural biases surface, interfering with best outcomes, according to We are IB psychologist and chief executive Dr Simon Moore. To understand how human behaviour influences decision-making, we must look at the science. "There are two parts of the brain: the front (the central executive) represents the pragmatic part – it likes statistics, facts and log...