It appears that more and more insurance professionals are looking to join the masses on social networking sites as a means of enhancing their business practices and reaching the clients in their communities – clients who are already making use of the many benefits of social media.
Life reinsurance experts, LOGiQ3, recently polled their community of clients at one of their annual events and the findings were very enlightening:
“26% of our attendees preferred to use email communication (not a surprise), but followed tightly by LinkedIn at 22%, Facebook and Phone calls, both at 18%, Twitter at 13% and lastly, traditional postage at 3%.” – Insurance-Canada.ca
This is very useful information for the insurance industry. It enables focus on communication where it is most constructive – to these preferred social media sites. It allows insurance professionals “…to connect with their networks on a real time basis, providing relevant content…” and it furthermore enables them to “…listen to what is being said on their preferred channel.”
A search on LinkedIn conducted by LOGiQ3 showed that some of the top insurance companies do in fact have abundant followings on the very popular business-oriented social network:
ACE – 4,954 followers; Sun Life Financial – 7,280 followers; Swiss Re – 5,924 followers; AEGON – 5,226 followers; RBC Insurance – 1,302 followers and Partner Re – 677 followers.
Life insurers, according to the article on Insurance-Canada.ca, are furthermore now using social media as a means of detecting fraud in submitted claims - “Investigators are now using sites such as Facebook to investigate suspicious claims. They’re looking for clues that don’t add up to the claim submitted, such as someone bragging about running a marathon while submitted a claim for an injured back, etc. Though data gathered on these sites are useful, they can only be used as insight and never as final proof of fraud.”
There has also been speculation that social media data might be useful with respect to price policies. Insurers are able to compare information posted by applicants on social networking sites with the information concerning their lifestyle choices and medical histories filled out on their applications.
Social media is undoubtedly one of the most valuable and functional tools at our fingertips and you, as an insurance professional, can make the most of the many features each social network has to offer.
Join one of our workshops and we can show you how to make the most of your social networking experience. For information regarding our schedule, please go to:
Join one of our workshops and we can show you how to make the most of your social networking experience. For information regarding our schedule, please go to:
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