PIDM Behavioural Insights Reports
Behavioural Studies (Savings)
Globally, emergency savings is increasingly recognised as an important pillar to build the financial resilience of people against unexpected life shocks and financial stress. However, people face many practical challenges, including behavioural barriers to savings. PIDM and The Behavioural Insights Team (BIT) collaborated to identify behavioural insights around savings behaviours that could help Malaysians better withstand financial shocks in the future. Our findings are presented in the form of a literature review on behavioural science research on savings, as well as a report outlining results and key recommendations from a survey and behavioural economics experiment.
- What affects the way we think and save? Common behavioural biases
- Who did we speak to? Respondent demographic profile
- How do Malaysians behave? Results from our survey and experiment
- What next? Key recommendations
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Behavioural Studies (Insurance)
Insurance is important for protection against life’s unexpected events, and an important component of financial resilience. While many acknowledge this, various factors including behavioural barriers may influence whether such an insurance is taken up or not. PIDM and The Behavioural Insights Team (BIT) collaborated to gain insights around the behaviours of urban millennials in Malaysia in respect of long-term insurance (life and health), and explores possible interventions to encourage its uptake. Our findings are presented in the form of a literature review on behavioural science research on insurance, as well as a report outlining results from a survey, framed field experiment and key recommendations.
- What affects the way we think and insure? Common behavioural biases
- Who did we speak to? Respondent demographic profile
- How do urban Malaysian millennials behave? Results from our survey and experiment
- What next? Key recommendations
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