Sloane Berrent, co-producer of the Gulf Coast Benefit said, “I have always believed that our online interactions are meant to facilitate our offline experiences and the Gulf Coast Benefit is a perfect example of that. You can find an event or make a donation online and we are using social media tools to bring people together … It’s a way of extending the conversation that wasn’t available even three years ago and it’s a game changer.”
This is just another example of how social media can be used to connect people times of crisis. Insurers are usually key players in crises, and we’re already seeing examples of insurers using social media to facilitate claims processes during times of widespread distress, like the recent Nashville flooding.
More information and examples of how insurers are using social media to respond to catastrophic events.
“A trend we’re seeing is that insurers are taking a proactive approach to disaster response,” says Passmore. “Companies can see where their policyholders who may have been affected by natural disasters are located and contact them immediately after the disaster occurs to determine the need for assistance.”
This article makes a good case for the need for cyber liability insurance. The author details a number of risk scenarios where companies would not be covered by traditional insurance.
Many insurers are multinational companies. But anyone who uses the web for communication should have a basic awareness of how the things they say may be perceived by people in other cultures. This Mashable article provides some very practical advice and tools.
A brief discussion on the use of social media by insurance agents in British Columbia.
The actuarial profession has traditionally been a fairly small population, but our numbers may soon grow faster. This article notes that 10,000 people in India are currently taking actuarial exams. We should expect an increase in the number and quality of professionals originating from nations like India in the next decade.
Web 2.0 tools will bring them online faster than ever before. It would be a mistake to assume that an actuary (or any other professional) groomed in India will only work in India. Whether you’re an aspiring or established actuary, there is reason not to be complacent. Focus on how you can differentiate yourself down the road, and focus on how you can use the web to extend the scope of your services beyond the traditional sphere.