Enterprising Developments

Insurance Industry Scores Woefully Low in Social Media Rankings

Joe McKendrick
Insurance Experts' Forum, October 8, 2010

NetProspex, an online business contact service, just released its Fall 2010 Social Business Report, which analyzed its database of 2 million participants to assess company affiliations, industry affiliations, professions and regions.

The good news is that the insurance industry made the top 50 list in terms of social networking-savvy industries. The bad news is that it was ranked number 42 on the list, behind restaurants and sports teams, and just ahead of debt collection and hair salons. For what should be a highly social industry, the insurance industry has some work to do in raising its profile among social networks.

The closest related industry to insurance, banking, ranks in third place among the top 50, right behind search engine companies and marketing firms.

The NetProspex report divulged some other interesting findings. For example, marketing managers across these industries appear to be the largest consumers of social networking, followed by human resources and IT professionals. Customer service professionals also ranked high on the social networking strata. 

Obviously, these are all key jobs in the insurance sector as well.  The question is, if this report is accurate, why is insurance so weak in overall social media engagements? 

The answer may be in the relatively conservative corporate cultures seen in the industry, which needs to fully assess and mitigate the risks of overexposure to outside communities.

Joe McKendrick is an author, consultant, blogger and frequent INN contributor specializing in information technology.

Readers are encouraged to respond to Joe using the “Add Your Comments” box below. He can also be reached at joe@mckendrickresearch.com.

This blog was exclusively written for Insurance Networking News. It may not be reposted or reused without permission from Insurance Networking News.

The opinions of bloggers on www.insurancenetworking.com do not necessarily reflect those of Insurance Networking News.

Comments (5)

Hey dear Katie "Geomarketing" am pleased about your estimation. Thanks for sharing it with us...
http://www.indicia-geomarketing.com/

Posted by: Gavin M | October 16, 2010 5:04 AM

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why are we so weak? b/c we are all working at the behest of our compliance depts., which are not "conservative" so much as just plain scared.

Posted by: khittel | October 8, 2010 3:52 PM

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140 characters forces you to fit your thoughts into concise, direct terms. 140 characters forces you to be creative and dynamic is how you deliver content. No you can't write a book in 140 characters. But honestly no one wants to read a book about insurance so keep your thoughts brief and deliver powerful short, 140 character messages.

Thank you,

Ryan H., www.RyanHanley.com

Posted by: Ryan H | October 8, 2010 1:17 PM

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Joe, I agree that 140 characters for a Tweet is quite limiting. But it can easily fit a brief headline and link to a longer message on your blog or another website that provides general education around insurance topics. There is a lot of knowledge to share out there, and insurance agents and company representatives are the best source!

Posted by: Katie H | October 8, 2010 1:02 PM

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Or maybe insurance topics can rarely be addressed in 140 character tweets?

Posted by: Joe D | October 8, 2010 11:44 AM

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