Product Code: IS0634MR
Timetric's Insight Report: Insurers' Engagement with Social Media report analyzes the effectiveness of insurers in capitalizing on the benefits of social media across insurance business functions. As internet access and smartphone adoption increase, a growing number of internet users are becoming involved with social networking. The increased social media user base provided significant opportunities for these companies to connect with customers and promote their products and services. Insurers and distributors across developed as well as emerging markets are, therefore, increasingly focusing on developing their processes to be able to respond to web-oriented consumers.
The report discusses in detail how the insurers across different markets use social media platforms across different business functions including product development, sales and marketing, underwriting, claims management and customer services. It also discusses the key issues and challenges faced by insurers for successful implementation of social media strategies.
The report provides top-level market analysis, information and insights into social media in the insurance industry. It provides:
- A global snapshot of social media and growth opportunities for the insurance industry.
- Comprehensive analysis of social media practice across insurance business functions.
- Analysis of social media marketing opportunities and challenges for insurance companies.
- Detailed analysis on leading insurers and their presence on various social media sites.
- Analysis of social media strategies adopted by leading insurance companies operating in various markets.
- The report provides a comprehensive analysis of use of social media across insurance business functions.
- It provides current and future scenarios for social media and its impact on the insurance industry.
- It details various benefits available to, and challenges faced by, insurance companies while adopting social media strategies.
- It provides case studies on how insurance companies are using social media for effective customer engagement and marketing.
Reasons To Buy
- Gain an understanding of the rising adoption social media channel across the business functions of the insurance industry, and the impact of social media on the insurance industry globally.
- Understand how social media tools such as networking sites, blogs and online communities are being used by insurers and distributors in areas such as product development, marketing, operations, customer engagement and brand building to improve their overall efficiency and profitability.
- Understand market opportunities and challenges faced by insurance companies globally while implementing social media marketing strategies. Also, gain an understanding of the future use of social media in the insurance industry.
- Identify the best practices adopted by insurers and distributors by illustrating social media strategies used by insurance companies in the form of case studies.
Table of Contents
1. Executive Summary
2. Social Media in the Global Insurance Industry
- 2.1. Key Insights
- 2.2. Social Media Framework
- 2.3. Issues and Challenges
3. Use of Social Media in the Insurance Industry
- 3.1. Product Development
- 3.2. Sales and Marketing
- 3.3. Underwriting
- 3.4. Customer Service
- 3.5. Claims Management
- 3.6. Social Media for Internal Business Functions
4. Innovative Practices in Social Media
- 4.1. Nationwide - Capitalizing on Social Media to Improve Enterprise Communication
- 4.2. Genialloyd - Enhancing Customer Service through Social Media
- 4.3. Kroodle - The First Facebook-Based Insurance Initiative
- 4.4. Allstate - Successful Marketing Campaign Using Social Media
- 4.5. Unum - Interactive Communication for Increased Engagement
- 5.1. Methodology
- 5.2. Contact Timetric
- 5.3. About Timetric
- 5.4. Timetric's Services
- 5.5. Disclaimer
List of Tables
- Table 1: The Impact of Social Media on Insurers' Business Structures
- Table 2: The Outlook for Social Media in the Insurance Industry
- Table 3: Marketing and Promotional Initiatives by Insurers using Social Media
- Table 4: Insurance Companies' Brand Mascots on Social Media
- Table 5: Social Media Across Insurance Business Functions
List of Figures
- Figure 1: Use of Social Media in the Global Insurance Industry
- Figure 2: Social Media Marketing in the Insurance Industry
- Figure 3: Framework for the Effective Adoption of Social Media in Insurance
- Figure 4: Social Media Use and its Impact on Customer Acquisition
- Figure 5: ROI Measurability Across Different Functions
- Figure 6: Impact of Investment in Social Media
- Figure 7: Use of Social Media Through Insurance Business Functions
- Figure 8: Social Media in Product Development