Social media changes the insurance business

A report based on third-quarter interviews with 15 North American insurance industry executives showed that although insurance companies see the marketing potential of social media, many have yet to focus on its possibilities for changing how claims are processed. Consumers today are more influenced by friends and strangers through social media than by marketing and advertising campaigns orinsurance agents, the report says. As a result, carriers cannot rely solely on insurance agents to identify consumers' product needs and expectations.

Source:Insure.com