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Transforming consumer information

Published online by Cambridge University Press:  12 April 2013

A. Ritchie ,
J. Corrigan ,
S. Graham ,
A. Hague ,
A. Higham ,
J. Holt ,
P. Mowbray  and
H. Robinson
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Abstract

The Consumer Information Working Party has published this paper which explores how we can better engage consumers with long-term savings and investments. The working party considered the current state of consumer information, which is a long way from ideal, including: consumer insights and touch points, the current consumer information model, relevant considerations from behavioural economics, examples of information failures and some successes from other fields. They then propose a way to deliver more effective information, including a possible framework and some ideas for its application. They finish with proposals for immediate next steps and urge the Actuarial Profession to take a lead in this area.

Keywords

Actuarial ProfessionBehavioural EconomicsCommunicationConsumer informationEngagingGoalsLife stageLong-term savings and investmentsPrinciplesRiskSavingTiered information
Type
Sessional meetings: papers and abstracts of discussions
Information
British Actuarial Journal , Volume 18 , Issue 3 , September 2013 , pp. 546 - 603
Copyright
Copyright © Institute and Faculty of Actuaries 2013 

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