Summary of Cognition: Minding Risks

Why the Study of Behaviour Is Important for the Insurance Industry


Get the Report

Cognition: Minding Risks summary
Did you see the 2008 fiscal crisis coming? How about the next one? Shift your perspective to spot emerging risks.


8 Overall

8 Applicability

7 Innovation

8 Style


Lloyd’s sponsored this report on risk identification for the insurance industry, but don’t let that fool you. This is a focused, methodical overview that a wide range of readers will find useful. It explains the current understanding about human behavior in assessing risk. It addresses the impediments to clear thinking and identifying risk accurately that arise from organizational structures, human nature and society. getAbstract suggests this enlightening study to insurance and finance professionals, investors, innovators and anyone charged with “minding risks.”

In this summary, you will learn

  • What factors shape your understanding of risk
  • How to assess your risk evaluation skills
  • How your organization can improve its risk judgment


Seeing What You Don’t See
A US government commission, formed to investigate the roots of the 2008 financial crisis, concluded that both individuals and enterprises, particularly lenders, “took excessive risks.” Organizations did not follow regulations, “and ethical principles were ignored...
Get the key points from this report in less than 10 minutes. Learn more about our products or log in

About the Authors

University of Kent professors Mario Weick and Tim Hopthrow teach psychology, Dominic Abrams teaches social psychology and Peter Taylor-Gooby, OBE, teaches social policy.

Comment on this summary

More on this topic

Customers who read this summary also read

More by category