Social Media and Big Data Can Drive Customer Insights


Social Media and Big Data Can Drive Customer Insights

Carriers only began venturing into social media as recently as 2009. This is just when Facebook was beginning to catch on among the broader US population, and around the same time that Twitter began to develop a growing audience. Initial efforts were focused around brand promotion, with little in the way of dialogue or engagement.

Over 80% of carriers are investing in social media, but less than 10% of policy holders are engaging. That’s a lot of wasted effort and missed opportunities.

The reasons for this late start and slow adoption are many; unlike many other consumer industries, the insurance industry faces greater regulatory, compliance and legal issues. Additionally, there is a level of complexity unique to the insurance industry that makes simple 140 character messages challenging.

Want to learn more? Download our whitepaper. Insurance and Social Media: Addressing Missed Growth Opportunities.

As of 2013, the majority of these issues have been resolved, and most carriers have dedicated social media efforts in place.

 

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