More than 9 in 10 insurance and annuity providers use social media in some form, according to a new report.
Corporate Insight, a New York-based provider of competitive intelligence and user experience research to financial institutions, published this finding in a new survey, “Social Media Leaders.”
The report examines the use and effectiveness of social media initiatives of more than 90 financial services firms. The report offers rankings for four types of social properties: Facebook pages, Twitter profiles, proprietary communities and blogs. The research was conducted on companies that Corporate Insight tracks continuously through its Monitor services, including annuity issuers, banks, brokerages, credit card issuers, insurance companies and mutual fund firms.
Among the insurance and annuity providers tracked, 92% use social media, the report finds. Facebook is the most popular social media tool with every firm maintaining at least one page on the site and many firms offering “multiple pages.” The industry averages more than two pages, per firm, the report says. Five property and casualty companies, including several multiline insurers–Allstate, State Farm, Progressive, Geico and Progressive–offer four or more pages.
The report says the insurers use secondary pages to cover a range of issues. Among the most popular: advisor-related content, product promotions, recruitment, corporate mascots, and philanthropy.