Understanding and Guiding Irrational Human Behaviors Using Behavioral Economics and Decision-Making Psychology
We are a unique consulting company that combines 15+ years of academic research experience with research consulting and speaking experience in number of industries, including financial, (re)insurance, pharmaceutical and technology to help companies understand irrational human behavior. We also help companies explore opportunities to incorporate behavioral economics in understanding, predicting, and ultimately influencing employee and customer behaviors.
Examples of behavioral economics applications:
- Effective communication: e.g., Increase customer engagement. Identify and apply the most effective framing and other BE tactics (e.g., priming, anchoring, social norm).
- Powerful nudging: e.g., Increase conversion and/or renewal rate on your website. Defeat decision inertia (e.g., not choosing/acting at all) and call for action.
- Optimize risk management: e.g., Increase applicants’ disclosure level in underwriting process to better assess risk. Encourage agents to take calculated risk.
Check out our blog and learn how you can account for irrational human behaviors in your next business decisions!
SEE WHAT OUR CLIENTS HAVE TO SAY!
"I recently had the pleasure of attending one of Namika’s workshops focusing how the study of behavioral economics can improve the quality of the insights generated from market research. The workshop provided a number of actionable takeaways me and my team have already started to implement. Through Namika’s usage of a wide variety of examples and her ability to explain complicated concepts, I was able to gain a deeper understanding of how the two practices can complement each other…all in just a short period of time."
- VP, Market Research at Global Reinsurance Company
"Namika recently delivered a thought-provoking presentation on Behavioral Economics at our event for senior insurance executives. She was extremely knowledgeable and engaging, and not only educated us on the significance of the research, but created a compelling case for why it matters to anyone looking to connect more effectively with customers"
- AVP, Marketing at Global Reinsurance Company
"I’ve partnered with Namika on a number of behavioral economics and finance projects, where she has played an anchor role relative to field, lab, and academic research and applied the research to content and program development. Clients, colleagues, and I always look to her as a player on their A-team. She has tremendous knowledge about the behavioral space and is a pleasure to work with throughout a project lifecycle from strategy and research design through analysis and application. I highly recommend working with Namika."
- Principle Consultant