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Remember way back in 2007 when companies were trying to find ways to sell insurance on Second Life?

By Michael P. Voelker | Updated on September 30, 2009

Remember way back in 2007 when companies were trying to find ways to sell insurance on Second Life? In the good ol’ days, MySpace used to be the online hot spot, but Facebook pased it by in 2008, according to digital marketing analyst firm comScore.

And speaking of 2008, Facebook is so last year. A report by UK communications regulator Ofcom revealed usage of Facebook by the next generation of insurance consumers–the 16- to 24-year-old group–declined in 2009 for the first time ever. Twitter is the place to be today–and you really should get your iPhone app on the market!

Welcome to doing business in the rapidly changing world of Web 2.0. In this environment, the trick for insurers is to have both the infrastructure and business processes in place to take advantage of market opportunities that best match the ways they want to communicate and do business with customers and trading partners.

“There is a high likelihood individual sites will change,” says Matt Lehman, Web experience director at Progressive. “Our objective is not simply to support the current venues but to put the institutional learning in place to be ready for what’s next in Web 2.0 and to be where our customers are.”

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