Thursday, July 23, 2015

It's a small, small (but connected!) world

So what do Facebook, Twitter and other "social media" have to do with insurance? Turns out, plenty:

"When Blanchard called Manulife, the company said that "I'm available to work, because of Facebook," she told CBC News this week. She said her insurance agent described several pictures Blanchard posted on the popular social networking site, including ones showing her having a good time at a Chippendales bar show"

Now, we noted that almost 6 years ago, so why bring it up now?

Well, it seems that other sectors of the insurance world are starting to take notice:

"Historically the insurance industry has operated knowing little about its customers; however, now with new technologies and the Internet, it no longer has to."

I think this may be painted with too broad a brush: certainly insurance companies have never been particularly "connected" or engaged, but good agents always have been (I've always called this a "relationship business"). Still, better late than never, right?

"Usage of social media has not been standardized within the insurance industry yet ... it seems that social media is a boon to underwriters and claims adjusters"

Indeed. one has only to look to our example above to see how adjusters have made use of the tech. On the other hand, it seems that carriers (American ones, at least) are already behind the 8-ball:

"Users of social networking websites could face higher insurance premiums because burglars are using them to 'shop' for victims' personal details."

That's also from 2009, and concerns insurers in the UK. One supposes it's nice that we're finally catching up to them on our side of The Pond©.
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