Social media has affected almost every area of our lives, including the way we interact with friends and family, the way we connect with businesses, and the way we keep up with the latest news and information. The use of social media has significantly increased the volume of information available and the speed with which information moves. Insurance companies are not immune to the effect of social media. Some insurers have jumped into the world of social media, but the majority of insurers have done nothing as of yet. Regardless of where a company falls in this spectrum, social media will have an impact.
This session will discuss:
• The explosive growth in the popularity of social media.
• How insurers have used social media.
• How social media has and will affect the insurance industry in the future.
• The implications of social media for actuaries and analytics.
• The pitfalls associated with using social media.