IICF Social Media 2.0 for Insurance Professionals - Chubb Presentation

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Social media has transformed the ways in which we connect with friends and family. It has also opened new horizons for brand management, employee interaction and customer engagement. Social media is an ever-evolving medium that has changed the landscape of today’s business world. The Insurance Industry Charitable Foundation invites you join in our exploration of the uses, opportunities, risks and legalities of social media and its application for the insurance industry.

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IICF Social Media 2.0 for Insurance Professionals - Chubb Presentation

  1. 1. Social Media in P&C Insurers November 9, 2011 IICF Social Media Forum
  2. 2. Chubb Group of Insurance Companies (“Chubb”) isthe marketing name used to refer to the insurancesubsidiaries of The Chubb Corporation. For a list ofthese subsidiaries, please visit our website atwww.chubb.com. Not all insurers do business in alljurisdictions. This document is advisory in nature. It isoffered as a resource to be used together with yourprofessional insurance advisors. No liability assumedby reason of the information contained herein. Thisliterature is descriptive only. Actual coverage issubject to the language of the policies as issued.Chubb, Box 1615, Warren, NJ 07061-1615.
  3. 3. Agenda• The P&C Industry’s Approach to Social Media• Current Strategies for Social Media• Chubb’s Approach
  4. 4. Complements Existing BusinessStrategy• “Social” is not a strategy• Have a clear line of sight to existing channels• Determine how it fits your business• Integration of social channels is critical• Include not just external “social media,” but existing websites, mobile, and internal collaboration tools
  5. 5. Brand Enhancement• Efforts must be true to the brand’s essence• Aligned to build on that expectation• Integration with traditional media• Think of social as an ecosystem—all the pieces connect and work together
  6. 6. Additional Media/Platforms• Social is still at the “Cambrian Life Explosion” stage• Rapid emergence of new tools, evolution, consolidation and extinction• Google+—Facebook killer or DOA?
  7. 7. Managing Social Within theRegulatory Framework• Insurers are regulated at the State/Federal levels• Evolving regulatory area• Required to keep abreast of evolution regarding advertising, privacy, protection of personally identifiable customer information• Critical to have legal counsel directly involved at outset
  8. 8. Governance & Risk Control• Dedicated multidisciplinary team• Pick an integration model that fits (organic v. inorganic)• Develop a sound risk mitigation plan• Community management• Training• Attorney review and participation• Establish content take down and incident escalation protocols• Experiment small. Fail or accelerate fast.
  9. 9. Current Company Strategies• Facebook• Twitter• Youtube• LinkedIn• Emerging Platforms
  10. 10. Progressivestats:• facebook: 34,600+ fans• twitter: 9800+ followers, following 7100+• youtube: 423,000+ channel views, 2500+ subscribers• linkedin• blogs• mobile use of hashtags, tweeting @ people, and frequent tweeting
  11. 11. Progressivestats:• facebook: 34,600+ fans• twitter: 9800+ followers, following 7100+• youtube: 423,000+ channel views, 2500+ subscribers• linkedin• blogs• mobile house rules section of facebook clearly defines community guidelines
  12. 12. Progressivestats:• facebook: 34,600+ fans• twitter: 9800+ followers, following 7100+• youtube: 423,000+ channel views, 2500+ subscribers• linkedin• blogs• mobile leveraging facebook real estate by creating a “splash” page with house rules section of an interactive poll and facebook clearly defines a like prompt community guidelines
  13. 13. Progressivestats:• facebook: 34,600+ fans progressive has apps• twitter: 9800+ followers, that don’t have much following 7100+ to do with insurance• youtube: 423,000+ channel views, 2500+ subscribers• linkedin• blogs• mobile
  14. 14. The Hartford stats: • facebook: 108,900+ fans • twitter: 10,400+ followers, following 150+ • youtube: 47,100+ channel views, 120+ subscribers • linkedin have aligned themselves with a charitable cause
  15. 15. The Hartford stats: • facebook: 108,900+ fans • twitter: 10,400+ followers, following 150+ • youtube: 47,100+ channel views, 120+ subscribers • linkedin have alignedcohesion across themselves with aplatforms—each social charitable causemedia property has thesame background orphotos and theme
  16. 16. The Hartford stats: • facebook: 108,900+ fans • twitter: 10,400+ followers, following 150+ • youtube: 47,100+ channel views, 120+ subscribers • linkedin rather than just broadcasting, the hartford asks questions
  17. 17. The Hartford stats: • facebook: 108,900+ fans • twitter: 10,400+ followers, following 150+ • youtube: 47,100+ channel views, 120+ subscribers • linkedin uses contests as an engagement tool
  18. 18. The Hartford stats: • facebook: 108,900+ fans • twitter: 10,400+ followers, following 150+ • youtube: 47,100+ channel views, 120+ subscribers • linkedin has created a products & services page on linkedin
  19. 19. Travelersstats:• facebook:: 7,300+ fans• twitter: 6,600+ followers, following 80+• youtube: 43,100+ channel views, 540+ subscribers• mobile their website prominently features this “auto accident help” app, and they also have a mobile-friendly website
  20. 20. Travelersstats:• facebook:: 7,300+ fans• twitter: 6,600+ followers, following 80+• youtube: 43,100+ channel views, 540+ subscribers• mobile their content is less human-interest- oriented, more insurance focused
  21. 21. Travelersstats:• facebook:: 7,300+ fans• twitter: 6,600+ followers, following 80+• youtube: 43,100+ channel views, 540+ subscribers• mobile their splash page offers a lot of information about their products
  22. 22. Travelersstats:• facebook:: 7,300+ fans• twitter: 6,600+ followers, following 80+• youtube: 43,100+ channel views, 540+ subscribers• mobile . . . and they offer a “get a quote” service as a facebook tab
  23. 23. Travelersstats:• facebook:: 7,300+ fans• twitter: 6,600+ followers, following 80+• youtube: 43,100+ channel views, 540+ subscribers• mobile travelers’ red umbrella branding is very consistent across properties
  24. 24. Fireman’s Fund they have an app that provides you with instructions for filing a claimstats:• facebook:: 28,700+ fans• twitter: 1100+ followers, following 880+• linkedin• mobile
  25. 25. Fireman’s Fund they post consistently and frequentlystats:• facebook:: 28,700+ fans• twitter: 1100+ followers, following 880+• linkedin• mobile
  26. 26. Fireman’s Fund they are not using their real name as their facebook page titlestats:• facebook:: 28,700+ fans• twitter: 1100+ followers, following 880+• linkedin• mobile
  27. 27. Fireman’s Fundstats: have created a products &• facebook:: 28,700+ fans services page on linkedin• twitter: 1100+ followers, following 880+• linkedin• mobile
  28. 28. Liberty Mutualstats:• facebook:: 10,400+ fans• twitter: 5100+ followers, following 190+• linkedin• youtube (71,00+ channel view, 120+ subscribers)• mobile they are aligning themselves with a charitable initiative
  29. 29. Liberty Mutualstats:• facebook:: 10,400+ fans• twitter: 5100+ followers, following 190+• linkedin• youtube (71,00+ channel view, 120+ subscribers)• mobile using facebook’s apps and tabs to promote products
  30. 30. Liberty Mutualstats:• facebook:: 10,400+ fans• twitter: 5100+ followers, following 190+• linkedin• youtube (71,00+ channel view, 120+ subscribers)• mobile they use their twitter account to communicate with customers and resolve issues
  31. 31. Liberty Mutualstats:• facebook:: 10,400+ fans• twitter: 5100+ followers, following 190+• linkedin• youtube (71,00+ channel view, 120+ subscribers)• mobile another claims app
  32. 32. Liberty Mutualstats:• facebook:: 10,400+ fans• twitter: 5100+ followers, following 190+• linkedin• youtube (71,00+ channel view, 120+ subscribers)• mobile has created a products & services page on linkedin
  33. 33. Chartisstats:• linkedin• twitter (may/may not be affiliated) lively linkedin page
  34. 34. Chartisstats:• linkedin• twitter (may/may not be no facebook account . . . just affiliated) a “community page”
  35. 35. Chartisstats:• linkedin• twitter (may/may not be affiliated)
  36. 36. Chubb’s External Social Presencestats:•facebook: corporate (1900+ fans)and collector car•Twitter: corporate (7400+followers) and collector car•youtube: 24,500+ channel views•linkedin•blogs: risk conversation andcollector car•mobile: chubb personalinsurance, pitchbook, and collectorcar customizing tabs to emphasize service, community linking to other chubb platforms
  37. 37. Chubb’s External Social Presencestats:•facebook: corporate (1900+ fans)and collector car•Twitter: corporate (7400+followers) and collector car•youtube: 24,500+ channel views•linkedin•blogs: risk conversation andcollector car•mobile: chubb personalinsurance, pitchbook, and collectorcar were able to increase engagement using collector car- linking to other specific properties chubb platforms
  38. 38. Chubb’s External Social Presencestats:•facebook: corporate (1900+ fans)and collector car•Twitter: corporate (7400+followers) and collector car•youtube: 24,500+ channel views•linkedin•blogs: risk conversation andcollector car•mobile: chubb personalinsurance, pitchbook, and collectorcar were able to increase engagement using collector car- specific properties
  39. 39. Chubb’s External Social Presencestats:•facebook: corporate (1900+ fans)and collector car•Twitter: corporate (7400+followers) and collector car•youtube: 24,500+ channel views•linkedin•blogs: risk conversation andcollector car•mobile: chubb personalinsurance, pitchbook, andcollector car blogs provide platform for engagement and education
  40. 40. Chubb’s External Social Presencestats:•facebook: corporate (1900+ fans)and collector car•Twitter: corporate (7400+followers) and collector car•youtube: 24,500+ channel views•linkedin•blogs: risk conversation andcollector car•mobile: chubb personalinsurance, pitchbook, and collectorcar apps are created for various purposes, including advertising and sales
  41. 41. Industry Best Practices• Link to all of your social media properties from your homepage and from each other• Be consistent with your branding from platform to platform• Engage your users with questions• Use each platform to its advantage—Facebook for its homepage real estate, Twitter for its trending topics, etc.• Don’t allow your only presence on Facebook to be a “community page”
  42. 42. Industry Questions• Should you create an app about claims? Is there a better/more interesting application?• Should your postings be mostly insurance related? Should they be more “fun” or human-interest focused?• Should you choose a particular charity to emphasize?• Should you use games or contests to engage users?
  43. 43. Chubb’s Approach: Holistic ViewChubb uses Social Business technology in twoways:• Internally with employees to – Share knowledge – Collaborate/innovate – Focus on revenue production, account retention, problem solving, and process improvement
  44. 44. Chubb’s Approach: Holistic View• Externally with consumers, customers and business partners to/for – Marketing/Sales support – Enhance relationships and goodwill – Deliver important feedback in real time, facilitating Chubbs ability to respond to developments and customer and business partner feedback – Provide product access
  45. 45. “Ecosystem” Approach
  46. 46. Thank you!Any questions?

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