Tag: Behavioral Psychology

Farmers Insurance asks court to block state review of auto rates and a possible refund order | LA Times

Farmers Insurance asks court to block state review of auto rates and a possible refund order | LA Times

The roots of the Farmers case are quite different, but ultimately involve the issue of whether the commissioner can order a retroactive rate cut or otherwise tinker with already approved rates. The case started with a 2015 lawsuit brought by Farmers customers who alleged that the company had been illegally charging some customers more than […]

Try as it might, LTFRB can’t repeal the law of supply and demand | Rappler

Try as it might, LTFRB can’t repeal the law of supply and demand | Rappler

Regulating ‘surge pricing’ Market prices orchestrate the decisions of consumers and producers. In the case of Uber and Grab, riders want to hail vehicles when prices are low, while drivers want to ply the streets when prices are high (or “surge”). Governments worldwide are particularly keen to regulate “surge pricing.” It is often taken as […]

Predictive Analytics in Insurance | Actuarial Post

Predictive Analytics in Insurance | Actuarial Post

2 – Take a strategic approach to deployment Implementation of predictive models is arguably one of the biggest hurdles within the whole process. During this phase, the models are integrated with existing systems. The best thing to do is take a strategic approach by starting deployment with a system that will make the output easy […]

Falling pound post-Brexit forces 260 job losses at Tonbridge firm Southern Salads | Kent News

Falling pound post-Brexit forces 260 job losses at Tonbridge firm Southern Salads | Kent News

Some 260 jobs have been lost at Kent food supplier Southern Salads after the Brexit-hit pound forced the company into administration. FRP Advisory has been appointed administrators of the Tonbridge-based firm, which will cease trading immediately, leaving hundreds of staff out of work. The family-run company operated for 30 years, weathering “competitive pricing pressures from […]

KnocKnocK founder Jordan Liu on why you should purposely start your business small and un-scalable | e27

KnocKnocK founder Jordan Liu on why you should purposely start your business small and un-scalable | e27

The convenience of pickup/delivery is actually just one pain point of traditional shops which mobile internet technologies in 2014 were well-developed enough to improve efficiency and reduce cost. We studied a few sectors of household chores and found that laundry services had the highest frequency of usage, and decided to give it a try. KnocKnocK […]

How ‘Gaming’ the System Helped This Business Get Thousands More Customers | Entrepreneur

How ‘Gaming’ the System Helped This Business Get Thousands More Customers | Entrepreneur

Sometimes it’s busy, sometimes it’s slow. Such is the nature of running nearly any kind of business. Off-season lulls seem to drag on forever, and bad weather causes customers to change their plans and spend their dollars elsewhere. Simply offering a coupon, sale, matinee price or happy hour doesn’t always cut it. Even dynamic, demand-based […]

Waste not, want not | The Kingston Whig-Standard

Waste not, want not | The Kingston Whig-Standard

One of the things I’ve been railing against lately is the growing number of “multi-buy” pricing strategies being used by Canadian supermarkets. These strategies include reduced prices when you buy two or more items, instead of offering discounts on single items. Nobody should be penalized for the “privilege” of purchasing one item. Multi-buy pricing puts […]

Dynamic pricing system promises less food waste | Springwise

Dynamic pricing system promises less food waste | Springwise

The Wasteless platform combines radio frequency identification (RFID), a dynamic pricing engine (which considers more than 40 separate factors when calculating price), and electronic shelf labeling. The system allows stores to automatically change prices on any item, in order to offer customers a chance to buy products close to their expiration date for a reduced […]

More Bang For Your Buck: Save money at local restaurants with Sp | NBC12 – WWBT

More Bang For Your Buck: Save money at local restaurants with Sp | NBC12 – WWBT

RICHMOND, VA (WWBT) – Richmond’s restaurants have put us on the map as one of the top places in the world to travel for food. There’s a new way for you try some of the RVA’s hottest spots without paying full price. It’s the age old question, where do you want to eat? Spotluck has […]

Is Dynamic Pricing the Silver Bullet for C-stores? | Convenience Store News

Is Dynamic Pricing the Silver Bullet for C-stores? | Convenience Store News

The retail environment for convenience stores has never been more challenging and the list of influences that can negatively impact profitability is growing. Although convenience stores are known for providing speed and convenience, today’s shoppers are more price-sensitive, have complete price transparency, and are becoming more resistant to paying a premium price. According to Nielsen, […]