Did You Know?

Learn how insurance companies can use social media to evaluate risk.

It’s fun to share snapshots of your life on social media. From your recent trip to Hawaii where you went SCUBA diving to the 5K run that benefitted your favorite charity, there are lots of moments to share. However, social media posts are constantly being monitored. From private investigators to insurance agents, social media posts are beneficial to gathering information about a person. When it comes to underwriting an insurance policy, information found on social media may be used to determine a person’s risk. Learn how social media can be used to help insurance companies identify risks.

Using Social Media Scores.

When a person uses social media, there’s always someone watching. Companies are gathering information about what people search for on the internet, what sites they visit, and what they post on social media. These factors make up a social media score. This score can then be sold to companies to help them make decisions about what to market to you and in some cases whether or not you’re a liability to insure. Insurance companies are starting to use social media as a factor in determining a person’s risk.  

Identifying Risk.

When it comes to evaluating risks, insurance companies look at what is posted on social media. For example, a person that posts lots of pictures of extreme sports such as skydiving or swimming with sharks, is a greater risk when it comes to life insurance. Alternatively, a person who checks in at the gym or likes healthy food stores on social media is more likely to lead a healthy lifestyle and is therefore less of a risk. These sorts of factors all play a role in gathering information about people and whether or not they’re a risk to insure.

When it comes to insurance risk, protect your company by evaluating all your client’s risk. Social media can be a valuable tool in helping to discover information about your clients. Use the best people search engine to gather the right intel about your clients. Contact the professionals at Skopenow to help you get the digital information that you need.