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Insurers Can't Afford To Ignore Social Media Benefits, Risks

Insurers still marketing with telephone calls, conferences, e-mail and live meetings may be missing an opportunity for growth if they ignore social media, according to an industry expert.

By Caroline McDonald | Updated on August 30, 2010

NU Online News Service , Aug. 31, 3:35 p.m. EDT

Insurers still marketing with telephone calls, conferences, e-mail and live meetings may be missing an opportunity for growth if they ignore social media, according to an industry expert.

In an article co-authored by Howard Mills, director and chief advisor of Deloitte’s Insurance Industry Group and former New York insurance superintendent, and Arun Prasad, senior manager, Deloitte Consulting, Mr. Mills said social networking is not only becoming the norm in consumer lifestyles, but it is now impacting insurance buying decisions, especially among younger generations.

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