The insurance industry has long been wrestling with ways to engage and retain customers. Like any business, insurance companies have to evolve with changing times and the way that consumers interact with one another and how they choose to interact with companies. Technology has become one of the most powerful forces in the world and insurers are having trouble adapting to this fact. Throughout the insurance industry, companies are beginning to adopt new business strategies that are based on the use of new technology. Some of this technology has to…
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The Power of Social Media in the Insurance Industry
The insurance industry can benefit from social media Social media can be a powerful tool for consumers and businesses alike. Platforms like Facebook, Yelp, and Twitter offer companies an opportunity to engage consumers in a more dynamic way, while also serving as platforms for consumers to express their opinions about the products and services that a company may be offering. For the insurance industry, social media can be quite important to maintaining credibility. Insurance is often a controversial issue, with many companies being seen as disconnected from consumers entirely. A…
Read MoreSocial media could be a powerful tool for the property insurance sector
Property insurance marketing could get easier with the help of social media The value of social media as a marketing platform is often understated and underestimated, especially in the property insurance sector. Social media represents millions of potential consumers interacting with one another on a regular basis. While these people primarily use social media platforms as a way to stay connected to friends and family, they have shown that they are willing to connect with companies as well. According to the Insurance Technologies Corporation, a Texas-based company specializing in various…
Read MoreCyber insurance now offered for protection against social media hackers
Facebook and Twitter account attacks are causing notable damage, but coverage is now available. A company in the United Kingdom has just released a first of its kind form of cyber insurance in order to help protect against hackers that break into Facebook and Twitter accounts. This social media coverage is the first of this nature in the U.K. The policy provides services that are geared specifically toward protecting against damage to a reputation, identity theft, and hijacked accounts. This has made insurance news across the country and around the…
Read MoreInsurance news story about Progressive should be seen as a warning to insurers
Experts now wonder if this social media fail will generate changes in the industry. In an attempt to save $75,000, Progressive Corp. has now found itself at the sour end of an insurance news story that has brought the rage of thousands, if not millions, of people against it. Other insurers who witnessed the story may soon be making changes to prevent this from happening to them. This type of insurance news, spread throughout social media, can be exceptionally damaging to the reputation of a company. This may mean that…
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