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Overcoming Confirmation Bias in the Insurance Industry
17th May 2022 • CoreLogic Intelligence Podcasts • CoreLogic
00:00:00 00:09:47

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CoreLogic released its 2022 Leadership in Insurance Survey, which asked executives in the property and casualty insurance industry how they see the pace at which executing business transformation initiatives is happening in response to significant shifts in the risk landscape. The survey results showed a growing realization that data science, multi-peril analysis and automation are emerging as critical factors in reducing costs. Another finding is that many executives are dealing with confirmation bias, a type of cognitive bias that involves favoring information that confirms previously existing beliefs or biases.