My colleagues, Catherine Stagg-Macey and Craig Beattie, released a research report today titled "Leveraging Social Networks: An In-Depth View for Insurers." They predict that “insurers will increasingly use public shared data to inform pricing decisions and aid in fraud detection.” They cite several situations where data held on social networks has already been used in court cases in the United States. So, how could social networking be used in underwriting, and where might we see it emerge first?

Consider a low-frequency, high-severity line of business such as high-limit personal umbrella. Improving selection on $5 million liability policies can have a significant impact on results.  

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