Before social media and smartphones took off the insurance world operated on a different wavelength, and it’s both interesting and exciting to see how social media along with AI and big data in general impacted the insurance industry over time.
Moving forward, there are clear ways insurance companies of all types ranging from auto to health, life insurance, etc. can be more informed, see what’s around the next turn, mitigate damages and ultimately provide the best services to customers by filtering out the fraud/BS (fixing waste = lowering premiums).
Looking at the legal space in particular, when insurance claims aren’t settled early on then go to trial, what is one of the most common pieces of evidence introduced today to implement the smoking gun? Social media data/insights/screenshots and that’s an area we specialize in and have guided some of the biggest cases around the world.
The point is, insurance companies need to create a process that analyzes social media data in the moment to capture things as they happen as opposed to putting on a tinfoil hat and trying to go back in time which will never work.
Our CEO, Aaron Schoenberger, is focused on this initiative now and if you have questions and want to learn more shoot him an email: email@example.com