Social media began to impact insurers in 2009 as pioneering companies used the networks to promote and protect their brands. Over the next several years, various surveys charted its growing use and sophistication. Here in 2013, social media in insurance has established a solid base in North America.
How solid? A survey conducted by Celent and Locke Lord, LLP discovered that 80 percent of insurers report that they are using social media in their business and that of the remaining 20 percent, nearly half—45 percent—plan to implement social tools within the next year.
A new report, "Social Media Use in North American Insurance," explores the benefits, barriers, plans, legal considerations, and business results related to social media in insurance. The feedback provides a snapshot of the current status and also an indication of what insurers expect in their "social" future.
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