Media Risky Feelings: How Emotional Reactions to Risk Are Driving Behaviours that Impact Us All

Risky Feelings: How Emotional Reactions to Risk Are Driving Behaviours that Impact Us All

uploaded September 29, 2022 Views: 692 Comments: 0 Favorite: 2 CPD
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From pensions to protection, and COVID to climate change, our behaviors are driven largely by our responses to risk. But while we like to think that risks are facts, often they are feelings, and it is our emotional responses to risk that most keenly influence our actions.   While it is intuitively appealing to believe that we would all be healthier and wealthier if we only had access to more information about our habits, biological predispositions, or financial circumstances, there is plenty of evidence to suggest not. If information was all that we needed, then why does someone smoke, and why don’t people save more for their retirement?  If we better understand the important, often vital, role that emotions play in our decision-making, our industry can learn to better communicate risks ‒ for the benefit of all.

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Categories: AFIR / ERM / RISK

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