Social Media Analytics for Insurance
Principal and Consulting Actuary, Pinnacle Actuarial Resources
Social media has become an integral part of most people’s lives. With its widespread growth has also come a substantial increase in the amount of information generated by its users and platforms. Businesses are taking advantage of this shift and attempting to determine how to use social media information to drive business decisions. Insurers are making significant investments in social media as well, but as is the case with other industries, they are not always systematically analyzing the valuable information that is resulting from their investments.
This session will discuss the application of correlation, clustering, and association analyses to social media text data. This will demonstrated by showing the results of an ongoing analysis of over 6 million insurance Twitter posts. The results of these analyses can help insurers identify applications in the areas of marketing, claims, underwriting and customer service.
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