Abstract
The paper introduces the science and process of Mind Genomics as a process by which to reveal the mind of prospects regarding the factors surrounding insurance, specifically insurance that the home contractor will complete the project satisfactorily. The objective is to uncover the existence and nature of groups of people sharing the same point of view about what they want in such insurance. The Mind Genomics processes works through experimental design, presenting respondents with vignettes, combinations of messages about insurance, totally different combinations for each respondent. The subsequent analysis by regression reveals which messages make the respondent feel comfortable with the project and the insurance, versus which messages make the respondent feel insecure, and ready to drop the project. The data suggest three mind-sets of people; project-focused, contractor-focused, and legal/finance-focused, respectively, responding to different aspects of the contracting relationship. We introduce the PVI, personal viewpoint identifier, to assign a new person to one of these three mind-sets, to aid sales and client service.
Highlights
Insurance is a business, an exercise in statistics, and a game of psychology between players, all at the same time
The paper introduces the science and process of Mind Genomics as a process by which to reveal the mind of prospects regarding the factors surrounding insurance, insurance that the home contractor will complete the project satisfactorily
The most instructive information about home contractor insurance comes from the Internet, from organization specializing in contractor insurance or specific brokers
Summary
An exercise in statistics, and a game of psychology between players, all at the same time. You should verify your contractor’s insurance coverage before hiring him or her by asking to review a copy of the contractor’s policies It should include both a commercial business/general liability insurance policy and workers compensation. The latter is important because without it, workers remodeling your home could sue you if injured. Https://www.insurance.com/home-and-renters-insurance/contractorrenovation-remodel General liability insurance policies will usually cover a broad range of damages, including: Faulty workmanship Job-related injury Advertising injury/defamation Contractors or developers may be required to have a minimum level of liability insurance either by law in some states or to win certain contracts that require it. Subcontractors are frequently required to carry liability insurance in order to work for certain general contractors. https://constructioncoverage.com/construction-insurance#types
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