As reported in the Insurance Journal, a panel of actuaries gathering at the Casualty Actuarial Society’s Spring Meeting urged actuaries to lend their expertise as insurance companies try to understand what their social media data means. The article goes on to examine how the nature of the insurance business has made it difficult for insurance companies to create a social media presence similar to more traditional consumer-focused businesses yet social media appears to be here to stay and insurance companies should not miss the sales, marketing, and branding opportunities these channels hold.
What do you think? Do actuaries have a place alongside marketing and communication personnel at insurance companies? How can insurance companies leverage the power of social media given the complexities of different policies in different states? Let us know.