I’m doing research for a client, to find out any examples of insurance companies using social media to connect with it’s customers. I’ve done some scanning over a 48 period of time, and asked my twitter (a social computer) followers, who gave a tremendous amount of helpful links. Since I’ve received many links from the community, I won’t hoard my findings, but share them in public. I’m thankful for those that help me, and I try to give back on this blog.
Overall, without surprise, this industry has not adopted these tools, as one would expect. Whether they should or not should start with by answering these questions:
Are their respective decision makers using social tools to find answers about products and services? If so, which tools are they using, and how are they connecting? Would insurance customers benefit from asking and answering questions directly to each other?
I did find a few examples, yet just small blossoms in the field, no clear wins that would make a case study of complete success or failure, among them include:
Pick Your Advisor, India
This website allows users to select a financial or insurance advisor using a friendly personable interactive selector. Each of the advisors has a picture asscoiate with them, and a psuedo blog. As I looked closer, most of the blog data was not being used, or was being used like a chat room.Allstate Community Forum
It appears this forum (code suggests it’s powered by lithium software, see the whole list) which launched in late 07 is a great example of a company embracing it’s customers using community software. Sadly, there’s very few messages and discussions. The forum is segmented by role (singles, couples, parents) and you can start to see some Q&A occurring. In my recent report on Online Community Best Practices, I found that companies must have a kick start plan to get their communities going.esurance fan opportunity
Esurance’s aggressive online advertising of it’s cartoon like superhero “Erin Esurance” is causing some fandom, and some are dressing up like her. Mack questions if esurance should embrace some of these fans, but I’m not so sure. Is the goal of the cartoon campaign to drive awareness, or involve in a discussion about insurance. Some have mixed reactions on interacting with fake personas, so perhaps a different strategy would be needed.Embrace Pet Insurance, Facebook
For those of us who have pets, care can often be expensive for family members, as a result, embrace pet insurance launched this Facebook group. There are 83 members in the Facebook group, few discussions, a handful of wall posts and no applications.Various Blogs
Perhaps the most interesting insurance related blog is Singapore’s Tan Kin Lian, a former CEO who is “I write this blog to educate the public about insurance, finance and current affairs in Singapore”. The archives go back to 2005, and there are a handful of comments on many of the recent posts. He posts frequently, and is using it in a Q&A type format. On the other hand, there are new blogs appearing, such as this one from Golden State Life Insurance (only 3 posts)Enterprise Collaboration
In a recent Forrester report, Oliver Young’s case study highlights how Northwestern Mutual benefits from internal collaboration using the Awareness platform. I’m sure there are many other examples, but this industry is often not forth coming. Shel Holtz has additional commentary.Rehashing of Commercials on YouTube
Liberty Mutual launched a TV commercial series called “Pay it forward” that was published on YouTube (it doesn’t appear to be sanctioned from the brand), with 150,000 views. They could easily take this campaign to the people by creating a campaign letting the community share their stories view text and video. Interestingly, a few folks decided to take the time to parody the video. Update: I’ve just been notified about the Responsibility Project by Liberty Mutual, a video campaign with a blog (comments enabled), I don’t see much community aspect.Active Forums
Perhaps the most vibrant examples are these various forums. Insurance is likely not a daily activity, and members may prefer to ask questions anonymously to each other. In this forum for insurance agents, called Insurance Forums (top thread has over 60,000 views and 1000 responses regarding a convention). AM/PM insurance has a thriving community, appears to be a customer community. Kiplinger an financial analysis resource has a forum for general insurance discussions.Geico’s Caveman
This isn’t a great example of social media, but Geico’s caveman has interactive marketing elements where you can visit his “crib”, also the character appeared in real life at a recent SXSW party I attended.Zuzzid, Norwhich Union’s Community Ratings
To me, this is the perhaps the promising program, a website where community members can speak out about, rate, and rank insurance agencies. Sadly, this community has had little traction, just a few postings, and if you read the bottom line it’s created by an insurance agency, UK’s Norwich Union (which coincidently has the highest rating) for this to work, it’ll have to be from an independent source.Pemco wants to be like you
Pemco, a Northwest insurance agency in US, launched am interactive marketing site called were a lot like you that shows many profiles of potential prospects, and allows members to upload theirs. While it appears most of the content is created by the agency or the company, there’s very little area for member to member interaction (what social media is about). A good start, I hope they take this to the next level, and let the community really take hold and drive, create, and discuss the content.
Findings
There really isn’t much activity happening in the insurance industry to use social media, and where it may be successful, it could likely be behind the firewall, impervious to public viewing. Update: Jeff Jarvis is also on the hunt for industries that are somewhat impervious to social media, I’ll agree, social media isn’t great for everything, let’s use our heads, not everything is a nail..
Lastly, I’ve received half a dozen emails and tweets in total saying they are working with a client on social media, but can’t disclose the details, or will ask the client, or the project has ended. A very quiet industry, indeed.
In general, most financial and insurance industries are going to fall just behind the curve of mainstream adoption when it comes to social media tools, they rightfully will wait and vet out what works and what doesn’t.
If you see any other examples of insurance companies solving real business problems using social tools (I’m not as interested in toe-dipping), please leave a comment.
Related: I did this same list for the Finance industry, see Ongoing list of Social Media Efforts from Banks, Credit Card, Financial Institutions and Lenders
You should check out changeinsurance.ca
Aviva has a full Q&A site – very strong.
Twitter works great and also http://www.agentzoo.com for Social Networking
I have found insurance companies reluctant to participate in social media platforms, in part due to the confusion as to where in the organization this sits. Is this a PR issue where it is dealt with as an ill-advised attempt to control message as with external press or is this a website group problem who have the technical ability to try and activily participate without trying to control but lack authority.
Where does social media fit in organizations currently?
The idea behind their actions is to increase popularity, but insurance companies in general can't do very well on social media platforms because at present times, insurance companies are not very popular because they are known to take advantage of the lack of knowledge on people signing contracts with them. The normal person where social media is mainly directed to, will have no positive response for such an action so that is why there are other problems that need to be solved first.
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Sr22 Insurance
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This is the exact reason they need to participate in social media. If the insurance companies are active with the public and allow them to communicate the good and the bad, they will improve customer loyalty and acquisition.
All depending on how you want to define Social Media, but USAA, Lending Tree, Geico and many others are using social media right on their main page.
I have an idea.Why you forgot Google?
Try https://adwords.google.com/select/KeywordToolEx…
then select keyword about “insurance”.
You'll see how many time “insurance” seached by customer.It's 101,000,000 times per month around the world.WoW!!!!!
Kevin-
I just came across your reply to this very helpful post. I'm pretty fresh into the “real” world and have been tasked with developing and executing the social media strategy for my org. I'm with an insurance company that operates in commercial and personal lines P&C insurance. I'm curious…how are your efforts coming along? I'd be interested in having a discussion – reach out to me if you get a chance.
Katie-
I work for Ohio-based American Modern Insurance Group. I'd be interested to hear more about your social media efforts. Reach out to me if you get a chance. Thanks.
I've seen this trend recently. Their marketing teams are getting quite creative with the ads but I'm skeptical as to whether or not they really convert well.
I’ve been using social networks for more than one year now in order to attract new customers for the company I work for. And what the clients are attracted to is the 5%-10% discount that they get for their car insurance quote. Nowadays it suffices to be price competitive in order to attract clients. And if you add good quality services for that good price is even better.
My brother was perfectly healthy until he got cancer at age 33. When my daughter was in the hospital, it cost $12,000/day — she was there for almost 3 months.
I started a facebook page for The Standard Insurance. They are the worst company in America. Full of discrimination, manipulation, their own paid doctors, etc etc. The worst. Now that they are on Facebook, I intend to tell the world. Thanks.
I think social media is only going to help the auto insurance quote company, because is the most common insurance that people buy every year.
IT WAS REALLY AUWSOME.
Social media is indeed a very helpful strategy for exposure and in result attract more clients/prospects. The style with business nowadays are close connections. You gotta make a connection, more like a relationship with people so you get ahead. Without this, you won't be able to stand in the tight competition around.
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Thanks for sharing! Did you find any more examples during the last 2 years? I am starting the same research now and was wondering if there are any updates…
Are there any updates on findings in this area. I am working with a couple of companies that are considering SMM.