The process of integrating social media in insurance and its moving parts continues with anew report examining both hurdles and opportunities specific to theNorth American property and casualty (P&C) insurance industry.Basing its findings on 3Q 2011 interviews with 15 P&C industryexecutives, Aite Group makes a convincing case that althoughsome are successful, many P&C insurers are not fullysocial media savvy…yet.

“Dramatic and rapidconsumer adoption of social media, fueled by the uptake ofmobile communication and computing devices, and further spurred bymost other global consumer industries, has presented the P&Cinsurance industry with a variety of challenges and opportunities,”says Stephen Applebaum, senior analyst at Aite Group and author ofthe report. “Further magnifying the enormity of these implicationsis the fact that social media, unlike most of the disruptivetechnologies that preceded it, has impact and utility across theentire P&C insurance enterprise and the broader insurerecosystem.”

Underwriting, claims, and marketing are specific areas forapplication. Applebaum also specifically names one bracket thatcould use some new friends and followers: the agent and brokerside.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.