Building trust with consumers is, I believe, the most significant benefit social media has to offer insurers. But are there more?

There are in fact several other benefits for insurers in using social media. Staying with the customer, social media has a role to play in complementing call centers as another way to handle specific queries or to disseminate information. Social media can also be used to give a “human” face to the insurer by communicating its charitable and sustainability activities.

To my mind, one of the most promising avenues for social media is product development. It can be used in two ways: to enlist consumers as co-creators (crowdsourcing) and also internally to provide a platform for agents and brokers to collaborate in sharing insights and also build new products.

Finding and attracting the top talent is an ongoing challenge in most industries, and insurance is no exception. Social media can be used in a number of ways to connect and woo this important constituency.

To learn more, visit our social media in insurance coverage.

In my next blog, I’ll be talking about how to develop a social media strategy that will give insurers a good chance at achieving some of these benefits. 

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