The Importance of Social Media Engagement for the Insurance Industry

InsuranceAcross industries, businesses are implementing social media engagement strategies for customer service, advertising campaigns, PR and crisis communications, influencer programs and more.

I was recently talking to a few colleagues about how insurance companies can effectively converse in social media. Knowing this information could be useful to many and in the spirit of social media engagement, I reached out to experts in the social media and insurance category to answer this question:

How does conversing in social media help insurance companies?

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"The insurance company is no different than any other business listening and engaging in social media/community. Insurance companies are looking for what is being said about them and where they can immediately engage in relevant conversations. There are a lot of guidelines and regulations insurance companies must think through before engaging. Having more red tape does not necessarily mean engaging is more difficult. In fact, I think it is easier because the sandbox of engagement and relevant mentions are so clearly defined. Conversing on social media is about listening to the community, identifying trending topics  and answering their needs, challenges and desires. It is now the responsibility of these companies to define the expectations of response and gradually become a trusted online participant." -- Lauren Vargas

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"[Conversing in social media] helps insurance companies 1) listen to their community 2) share tips and lower risk 3) puts their brand front of mind." - Brian Blatnicki

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"Interesting that you are using the term 'conversing' as opposed to something more formal like "creating a social media strategy" or developing a "social media campaign".  But I think it makes for a good jumping off point. 


"Insurance is such a highly regulated business that there is a lot of concern for making improper statements or disclosing financial information. But I think that by developing the art of conversation with clients and prospects insurance companies can gain market and customer intelligence which can be a very valuable commodity.


"The other obvious place to do this is in customer service, customer care and solving problems publicly. By responding publicly to customer needs, insurance companies can demonstrate to their customers and prospects the level of care and attention they bring at key moments. This is also conversation and conversation that can build loyalists and community.


"I'd be interested to see how insurance companies responded during #sandy on social media. They could create local pages on Facebook so that people could reach out to them directly and give them a sense that there was local concern versus calling an 800 number.

"People only really think about insurance at the moment they need it, otherwise it's pretty boring. The key is to create the opportunity for conversation at these, albeit difficult, moments. And then carry them forward into deeper discussion. If you can build loyalists during a situation where conversation is needed and then maintain the conversation it becomes valuable for insurance companies as your loyalists can then help advocate and spread your message.

"Other than that the other opportunities for insurance companies with social conversation is to use the Interest Graph - the things that their customers are interested in OTHER than boring old insurance to build conversation and connection."-- Dan Weingrod

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"Gives them a better understanding of what services clients value, therefore allowing them to adjust their rates accordingly. [From an engagement perspecirive,] it a) relieves client apprehension around an intimidating topic or b) humanizes a brand in a traditionally unhuman industry." - Jason Cassidy

What other aspects of social media engagement are important for the insurance industry? Add you comments here.

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