PA360 North: Clients respond to feelings 'not facts and figures'

Behavioural biases

Jenna Brown
clock • 3 min read

The concept of ‘long-term’ varies widely among different age groups, according to research from Canada Life, which explores behavioural biases and the psychology of planning.

Speaking at PA360 North, Lara Bealing, marketing director, said Canada Life wanted to get "under the skin" of what long-term actual means to consumers in a bid to help advisers facilitate better outcomes for all clients. The provider has teamed up with psychologist and specialist in customer behaviour Dr Simon Moore of Innovation Bubble on the 'Long-Term Close Up' campaign. Moore told delegates that humans do not respond to facts and figures - people engage with how those facts and figures make them feel. "The human brain does not like numbers," he said. "Actually, the brain gives ...

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