According to a recent IBM study, insurance firms should utilize social media and analytics to sell to today’s consumers whose shopping and buying patterns have changed.

The global insurance study is the largest conducted by the IBM Institute of Business Value. The study involved 21,740 respondents in 20 countries.

The study showed that more than 60 percent of consumers plan to use more than one interaction medium – like phone, website or face-to-face meetings – to buy insurance policies.

Consumers selected online channels (49.5 percent) as their top preference for information gathering purposes to search for insurance. Following close behind was personal contact with an agent (47.9 percent), peer groups like friends and family (46.4 percent), and websites of aggregators or independent comparison providers (35.5 percent).

Twenty percent of the respondents said they use more than four different interaction points to search and compare their insurance options.

One can conclude from these findings  that the customer of today is getting to be more diverse and multi-modal, having many interaction point to choose from. Today’s consumer can and could switch insurers, if their preferred interaction points are not available.


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Abadilla, Emmie. “IBM study urges insurers to tap social media to sell.” 22 January 2011. The Manila Bulletin. Accessed 25 January 2011. Link Here.


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