Article Synopsis :
Small and marginal changes in the distribution channel of an insurance company may be subtle, but the cumulative effect can make a significant impact. In an article published on April 24, 2013 Augie Ray, Director of Social Media Strategy at Prudential discusses four reports prepared by Forrester, Accenture, Brunswick and Cogent research. These reports basically try to establish correlation between social media usage among financial advisors and investors.
Key findings of the four studies are listed below for reference:
1. Forrester study depicts a strong correlation between social media usage and Financial Advisor earnings.
2. Accenture study shows social media usage helps Financial Advisors retain clients and acquire more business.
3. Brunswick Group findings show that usage of social media influence investor’s decision.
4. Cogent Research study shows inclination of HNI ‘s towards social media for investment decisions.
5. Leading social media platforms are Facebook, Linkedin and Twitter.
Digital Insurer's CommentsThe message to agents in Asia is that use of social media will help develop relationships with clients.
With tied agency structures, insurance companies are in a position to help facilitate better usage of social media, including training, to allow their agents to make better use of these tools.