n June 2011, AMC and Hilker Consulting investigated the social media engagement in the insurance industry with the study “Social Media in the Insurance Industry”. The study presents the strategies of the insurance companies: which channels they are active on, what offers they offer there and how they shape the interaction. The study was created by Désirée Schubert of AMC and Claudia Hilker of Hilker Consulting. It was released on 1 June 2011, costs 950 euros plus VAT and is available online. Now the new edition will be available shortly. Here are some infos.
The idea of the study
The heterogeneity in the German insurance industry is reflected firstly in the number of occupied channels, in the different levels of activity and reaction of the companies, in the “exuberance” of social media strategies and not least in the resources provided. We believe that insurance companies can no longer choose whether they want to be on the social web or not, because they are. Either their employees or sales partners are active in the social web or they are already being talked about. He who closes his eyes and ears becomes “gesocialt” – whether he likes it or not. Thus companies give away the opportunity to intervene controlling. But you also miss the chance to occupy a barely plowed field and to position yourself here on a wide corridor. These backgrounds were the reason to find out the success factors in social media in insurance.
Methodology and results
The study shows that social media has arrived in the insurance industry. The study leaders Claudia Hilker and Désirée Schubert draw the following conclusion: “Anyone who wants to communicate authentically with his target group in social media needs professional know-how about the new rules of the game in the internet, a goal-oriented concept and qualified employees”. The results of the study are based on three examination methods:
1) Analysis: Which insurance companies are active on which channels?
2) Online survey on social media strategies of insurance companies
3) Best-Practice Contributions with Expert Interviews: What are the Success Factors for Every Social Media Network?
Whitepaper: Social media in the insurance industry
After three months of social media analysis and survey, it can be said that the social media landscape of the German insurance industry is very heterogeneous. In addition, the analysis has shown which companies in which channel have a particularly good commitment to the day. First insights into the study can be found in the whitepaper “Social Media in the Insurance Industry”. Five interviews give you a behind-the-scenes look and experience with Xing, Facebook, Twitter, YouTube or a corporate blog.