White Paper Abstract:
This paper explores the opportunities the platform brings for insurance carriers and outlines the laws that govern online specifically for an insurer online.
Explosion of social networking phenomenon triggered by Internet pervasiveness and fueled through mobile phones have created a new cult on online groups among Gen-Y population. Insurance, more so on personal lines has become a service-differentiated industry where active customer engagement and customer experience management can bring in loyalty. It is imperative to stay close with customer in a competitive environment and in trying times. Social media has found a pivotal place in Insurance ecosystem. External adoption aids product marketing, influencing distribution by reach and education
and as a platform for stakeholder collaboration. Internal adoption brings effective collaboration, improve
productivity and improve organization culture. While the aficionados tout social media as an open platform, the fine print is equally important. This paper explores the opportunities the platform brings for insurance carriers and outlines the laws that govern online space specifically for an Insurer online. We have presented an adoption guide for social media, followed by pointers for enablers and
accelerators of an Insurer from TCS and market.A mechanism to measure ‘value-add’ to help IT organizations justify a business case, is also detailed.