In 2010, the insurance industry collectively checked out the waterfront along the ocean of social media.

Some wouldn't go near the beach. Others played in the sand and built a castle. Many stayed on shore sitting in a chair watching others swim. A few brave souls waded out into deep waters and rode the waves. Those who stuck to shore for fear of being swept out to sea and drowning—not their fault, naturally—probably just hadn't received swim lessons.

Because there are so many opportunities (based on popular social sites such as LinkedIn, Twitter, Facebook, Google Local, YouTube and Foursquare) to communicate, market and grow a business on the social Web, it is easy to feel overwhelmed by the vastness of the social ocean.

It is now time for many in the insurance industry to conquer the fear of the social Web.

It's better, more fun and more productive to take a dip in the social ocean. For many, it's time to learn how to swim; for others, it's time to learn advanced strokes.

Advancements in technology have led to transformations in the way consumers learn about and buy insurance products and services. This is no different from many other aspects of American life. Established mass-marketing techniques of outbound and interruption marketing are less effective because they now have competition from interactive, consumer-driven tools. What's more, consumers now have unprecedented means to block advertising messages (do-not-call lists, spam filters, digital video recorders for blocking commercials).

Branding in an interactive, social Web world requires insurance firms to position themselves to be found; create interesting content that is relevant to their prospects and customers; and secure the permission of the consumer to reach out to them. Plus, there is the additional challenge of multi-state insurance regulation as well as the need for strong data privacy practices.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.