Patrick Fagan

Behavioural Scientist
Goldsmiths, University of London

The automated insurance agent and leveraging neuroeconomics at SPIXII

Neuroeconomics use all kinds of research methods and experimentations to understand human behavior in different situations. One of these situations is making decisions under risk and uncertainty, where multiple areas of the brain become involved. Neuroscientific research suggests that we humans are not rational beings. Much of our decision making is driven by emotion. That’s fine when making a coffee order, but what about when making an important financial decision? Do we want our emotion to play a part? More and more, technologies like SPIXII are using neuroeconomics findings to help us. In this presentation, we walk through a use case of chatbots in the insurance space drawing from the experience at SPIXII, the automated insurance agent. It becomes essential to see how technology will be emotionally intelligent in the future. It’s this emotional intelligence that’ll help make engagement with humans more responsive and persuasive.

Patrick Fagan is a consumer psychologist who applies scientific research to business insight. He lectures at Goldsmiths and UAL and has published papers on topics from Facebook psychology to price psychology, and he has published a book with Pearson, #Hooked: Why cute sells... and other marketing magic we can't resist. Patrick has consulted and run experiments for brands including eBay, Trainline and Vodafone, and is currently Head of Emotion Sciences at the emotional AI company CrowdEmotion.

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