How To Use Social Media Data In Underwriting

Social media data provides insurers with an opportunity to gain insights into a customer’s risk exposure in real time. But it comes with many challenges.

With more pressure than ever to offer competitive pricing, insurers are seeking innovative ways to leverage additional data sources in underwriting.

Today, there are over 4.62 billion social media users globally, leaving endless amounts of personal data across social media platforms like Facebook, Twitter, Instagram and LinkedIn.

The need for more data sources to augment and support internal processes is growing, especially with the rise of predictive analytics, AI and new demands to improve the customer experience.

Social media data provides insurers with an opportunity to gain insights into a customer’s risk exposure in real time. But it comes with many challenges. It can be used—but take care!