Reinsurance Industry and Social Media: An Oxymoron?

When Steve Evans devised of a plan to launch a social media site for reinsurance professionals, he may not have anticipated the popularity of the medium. But the site, reinsurancetweets.com, is proving that a business culture assumed to be slow to adopt new technologies is stepping up and using the medium as a way to improve business.

ReinsuranceTweets.com is designed to engage all individuals interested in reinsurance. Evans, an internet consultant and entrepreneur from the UK with a background in the reinsurance industry, admits: “The financial services sector, particularly reinsurance, has been slow to adopt and engage with social media. ReinsuranceTweets.com is my way of showing people interested in reinsurance what's being said about the market on just one of the popular social networks, Twitter.

Evans says social media is not a fad; rather, he describes it as a rapidly growing communications and networking tool that forces businesses in every sector to change the way they communicate with customers, respond to criticism and do business online.

 

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