This document discusses the risks to insurance companies of not embracing digital technologies and social media. It notes that many insurers do not have coherent digital strategies and are lagging behind competitors. Failing to engage customers through new channels like social media exposes insurers to risks of losing business to new digital-focused entrants. The document advocates that insurers must innovate and adapt their business models to changing customer expectations and behaviors driven by new technologies if they want to remain relevant and acquire new customers.