Survey finds P&C companies value Facebook interaction

Published: November 3, 2017

Updated: July 24, 2018

Author: Luke Jones

CATEGORY:

Share:

While many insurance companies have not embraced digitalization, the switch to social media is well underway. Indeed, a survey conducted by Economical Insurance shows that 90% of P&C insurance brokerages prefer to communicate with customers on Facebook.

Conducted this summer, Economical’s 2017 Pulse Check: Social Media Usage in the Canadian Insurance Industry survey asked 300 professionals from the Canadian broker industry. Nine out of 10 said they use Facebook to make contact with consumers. 61% say they use business-oriented network LinkedIn, and over a half share information on Twitter.

Ontario-based Economical Insurance says most respondents see value in social media, with 85% saying companies with a compelling social media presence have an advantage over those that don’t.

“Social media is helping change the way Canadian P&C insurance brokers engage with customers,” said Michael Shostak, senior vice president and chief marketing officer at Economical, in the release. “Brokers are using social media in a variety of ways, from generating new leads and sales, to providing customer service. But it’s early days and as an industry, we haven’t yet fully realized the potential of the medium. Our survey tells a story of an industry that desires change, yet lacks the time, resources, and knowledge to implement an effective social media strategy.”

Naheed Somji, senior social media specialist at Economical, added that “most brokers recognize there’s value in having a strong social media presence. The top spenders agree that an engaging social presence gives an organization a greater competitive advantage.”